Five-Star Business board OKs Rs 5,000 cr NCDs issue

The NBFC announced that its board has approved the issuance of non-convertible debentures (NCDs) aggregating upto Rs 5,000 crore through private placement basis.

The issuance of NCDs will be done in one or more tranches and/or series from time to time, said the company.

Five-Star Business Finance is a 'Systemically Important Non-Deposit taking Non-Banking Financial Company (NBFC-ND-SI)', providing secured business loans to micro-entrepreneurs and self-employed individuals largely excluded by traditional financing institutions.

The company reported 28% rise in net profit to Rs 151 crore on a 22% increase in total income to Rs 388.7 crore in Q3 FY23 over Q3 FY22.

 

The scrip ended 0.27% higher at Rs 543.50 on Friday, 24 February 2023.

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