Non-banking financial corporation (NBFC) Five Star Business Finance’s initial public offering (IPO) saw a tepid response, receiving bids for only 70% of the total shares on offer on the last day of subscription. The Five Star Business Finance IPO was an offer for sale (OFS) by the Chennai-based NBFC’s promoters and existing shareholders. Promoters SCI Investments V and Matrix Partners India Investment Holdings II, LLC will be selling their shares via this OFS.
The Five Star Business Finance IPO received a poor response for its retail investor portion too, which was subscribed only 0.11 times. The lender was looking to raise ₹1,960 Crore through this IPO.
Five Star Business Finance IPO Timeline
Below are some of the key dates to know about the Five Star Business Finance IPO.
Five Star Business Finance IPO GMP Today
The price band for the Five Star Business Finance IPO was set at ₹450-₹474 per share. After receiving a poor response during the bidding process, which closed on November 11, 2022, the shares of Five Star Business Finance are trading at a discount of ₹7 in the grey market today.
Five Star Business Finance IPO: Allotment Date
Five Star Business Finance’s shares are expected to list on the Bombay Stock Exchange and the National Stock Exchange on November 21, 2022. The company is likely to finalise share allotment on Wednesday, November 16, 2022.
Five Star Business Finance, which has a strong presence in South India, provides secured loans to self-employed individuals and micro-entrepreneurs. As of March 31, 2022, the lender had assets under management (AUM) of up to ₹5,100 Crore, as compared to ₹4,400 Crore in the previous year. Five Star Business Finance has a network of 311 branches in 150 districts, 8 states and 1 union territory.
For more information on upcoming IPOs, take a look at the BQ Prime IPO Watch.
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