 "Indostar Capital Finance lists at 5% premium over issue price")
Indostar Capital Finance has been listed at Rs 600, a 5% premium against its issue price of Rs 572 on the National Stock Exchange (NSE) and the BSE (Bombay Stock Exchange).
At 10:01 am; the stock was trading at Rs 596, a 4% higher against its issue price. It touched high of Rs 606 and a low of Rs 594 so far. A combined 5.85 million shares changed hands on the counter on the BSE and NSE.
The Rs 18.44-billion initial public offer had received good response with issue over-subscribed 6.8 times. The IPO was received bids for 153.61 million shares against the total issue size of 22.57 million shares.
The category reserved for qualified institutional buyers (QIBs) was subscribed 16.08 times, non institutional investors 6.91 times and retail investors 1.48 times.
The IPO consists of fresh issue of up to Rs 7-billion and an offer for sale of up to 20 million equity shares (including anchor portion of 9.67 million equity shares). The price band for public issue was at Rs 570-572 per share.
The fresh issue proceeds would be used to augment capital base to meet future capital requirements while money raised through offer for sale will go to selling shareholders.
Indostar Capital Finance, an NBFC which offers structured term financing solutions for corporates, and loans to small and medium enterprise (“SME”) borrowers in India. It has recently expanded its portfolio to offer vehicle finance and housing finance products.
At 10:01 am; the stock was trading at Rs 596, a 4% higher against its issue price. It touched high of Rs 606 and a low of Rs 594 so far. A combined 5.85 million shares changed hands on the counter on the BSE and NSE.
The Rs 18.44-billion initial public offer had received good response with issue over-subscribed 6.8 times. The IPO was received bids for 153.61 million shares against the total issue size of 22.57 million shares.
The category reserved for qualified institutional buyers (QIBs) was subscribed 16.08 times, non institutional investors 6.91 times and retail investors 1.48 times.
The IPO consists of fresh issue of up to Rs 7-billion and an offer for sale of up to 20 million equity shares (including anchor portion of 9.67 million equity shares). The price band for public issue was at Rs 570-572 per share.
The fresh issue proceeds would be used to augment capital base to meet future capital requirements while money raised through offer for sale will go to selling shareholders.
Indostar Capital Finance, an NBFC which offers structured term financing solutions for corporates, and loans to small and medium enterprise (“SME”) borrowers in India. It has recently expanded its portfolio to offer vehicle finance and housing finance products.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%