Five Star Business Finance IPO: Non-Banking Financial Company Five Star Business Finance is going to bring its initial public offer i.e. IPO next week. In this you will be able to invest money from 9 to 11 November 2022. Giving additional benefits to the anchor investors, the company is giving the freedom to subscribe to the IPO (Five Star Business Finance IPO Subscription) from 7th November. The company will do allotment of shares on 16 November 2022. On the other hand, those who will not get the allotment of shares, the invested amount will be returned to their account by 17 November 2022. The listing of the shares will go on November 21, 2022.
The company will raise this amount from IPO
Five Star Business Finance, a big company in the NBFC sector, is going to raise a huge amount of Rs 1,960 crore through this IPO. Earlier the company had planned that it would raise Rs 2,552 crore through this IPO, but later reduced the size of its IPO to Rs 1,960 crore. The company is known as a strong financial institution in South India. The company is going to bring this IPO through offer for sale. OFS means that the company is not going to bring new shares to the market through this IPO, rather the promoters are reducing their stake through IPO.
These promoters of the company are selling their shares
Many promoters of the company are going to sell their shares through OFS. This includes SCI Investment V’s own shares worth Rs 166.74 crore, Matrix Partners India Investment II Extension worth Rs 12.08 crore, Matrix Partners India Investment Holdings-II shares worth Rs 719.41 crore, TPG Asia VII SF Pte Ltd worth Rs 700.31 crore and Norwest Venture Shares worth Rs 361.44 crore are being sold by Partners X Mauritius through this IPO.
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Know other details of IPO-
Explain that the face value of the equity shares of the company has been kept at Rs 1 per share. On the other hand, talking about the price band, it has been fixed between Rs 450 to Rs 474. In this IPO, the company has reserved 35% for retail investors, 15% for non-institutional investors and 50% for qualified institutional buyers.
Five Star Business Finance Company Details
It is a non-banking financial company which operates the largest in South India. Secured business loans are given to micro-entrepreneurs and self-employed people from this company so that they can take their business forward. The company has 311 branches across the country. This company was started in the year 1984. Its business is most spread in Andhra Pradesh, Telangana, Karnataka and Tamil Nadu.
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