 "IPO, Initial Public Offer")
IndoStar Capital Finance’s Rs 18.44-billion Initial Public Offering (IPO) garnered nearly seven times subscription. The Qualified Institutional Buyer (QIB) portion saw the highest demand at 16 times the shares on offer. The High Net-worth Individual (HNI) and retail portion of the issue were subscribed just seven times and 1.34 times respectively.
Through the IPO, IndoStar is looking to raise Rs 7 billion by issuing fresh equity shares to shore up its capital base. The offering will also comprise of an offer for sale worth Rs 11.44 billion.
The price band for the IPO was Rs 570 to Rs 572 per
