Indostar Capital Listed With 4.90% Premium, Company mobilized 1844 crores
There
was another stock listing on the stock exchange on Monday. The non-banking
finance company, Indostar Capital Finance, is listed on BSE at a price of Rs
600 per share with a premium of 4.90 per cent. On the NSE, the shares were
also listed on the price of 600 rupees. The listing price of Indostar
Capital for the listing was fixed at Rs 572 per share. After listing, the
shares of Indostar Capital on the NSE reached 606.80 rupees.
Price band 570-572
Issue
of Indostar Capital was open from May 9 to 11. From the issue, the company
raised Rs. 1844 crores. There was lot size of 26 shares and the upper
price band had to invest Rs 14,872. The IPO of this NBFC was subscribed up
to 6.8 times. 700 million rupees new shares were introduced in this IPO,
whereas the remaining amount was bid for 2 crore equity shares. In this,
96,71,328 equity shares were held for anchor investors' stake.
Anchor investors were mobilized with Rs
553.2 crore
Indostar
Capital Finance raised Rs 553.2 crore from 24 Anchor Investors. The
company allocated 96.7 lakh shares to Anchor Investors. Anchor Investors
included BNP Paribas Arbitrage, SBI Mutual Fund, HDFC Mutual Fund, Aditya Birla
Sun Life Mutual Fund, Sundaram Mutual Fund, Fidelity, ICICI Prudential Life
Insurance and Reliance Mutual Fund.
Use of the money raised
The
use of the money raised through the IPO will be done to meet the capital
requirements of the future of Indostar Capital Finance.
Company business
The
start of Indostar Capital was in 2010. It lends to mid-size corporates and
SMEs. Indostar recently started loaning for vehicle and Affordable
Housing.
Move on such a stock
After
listing on the price of Rs 600, the stock on BSE reached a high of Rs
606.30. On the NSE, the stock managed to reach 606.80 rupees. At
present, the share listing price on BSE is down 2.05 per cent and is trading at
Rs 587.70.
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The data of this blog has taken from Moneybhasker.com by this link Indostar Capital Listed With 4.90% Premium, Company mobilized 1844 crores
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