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Indostar Capital Finance sees dull debut
(17:33, 21 May 2018)

Shares of Indostar Capital Finance listed on the BSE at Rs 600, a premium of 4.89% over the issue price of Rs 572. The stock had hit a high of Rs 606.30 and low of Rs 578.50 during the day. 26.88 lakh shares were traded on the counter on the BSE.

The initial public offer (IPO) of Indostar Capital Finance received bids for 15.36 crore shares, as against 2.25 crore shares on offer. The issue was subscribed 6.80 times. The issue opened for subscription on 9 May 2018 and closed on 11 May 2018. The price band for the issue was fixed at Rs 570 to Rs 572 per share.

The qualified institutional buyers (QIBs) category was subscribed 16.08 times. The non-institutional investors category was subscribed 6.91 times. The retail individual investors (RIIs) category was subscribed 1.48 times.

Ahead of the opening of the IPO, the board of directors of the company at its meeting held on 8 May 2018, finalised allocation of 96.71 lakh equity shares to anchor investors at Rs 572 per share.

Indostar Capital Finance is a Mumbai-based non-banking finance company providing structured term financing solutions to companies and loans to small and medium enterprise (SME) borrowers. The portfolio was recently expanded to offer vehicle finance and housing finance products.

On a consolidated basis, Indostar Capital Finance reported net profit of Rs 164.08 crore on total income of Rs 585.95 crore in the nine-month ended December 2017.

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