The IPO of IndoStar Capital Finance Ltd opens on 9 May and closes on 11 May. The company is offering shares in the price band of Rs 570 - Rs 572.
About IndoStar Capital Finance
IndoStar is a non-banking finance company (NBFC) primarily engaged in providing financing solutions to corporates and small and medium enterprise (SMEs). The company recently expanded in vehicle and housing finance. The current loan book of the company stood at nearly Rs 5200 crores with corporate and SME lending constituting 79% and 21% respectively. The gross non performing assets (GNPA) of the company stood at 1.4%.
Draft red herring prospectus
Purpose of the issue
The company intends to use the proceeds of the issue to augment its capital base and to meet future capital requirements.
Issue details
The offer consists of a fresh issue of 12,237,762 shares aggregating to Rs 700 crores and an offer for sales (OFS) of 20,000,000 shares aggregating to Rs 1,144cr.
IPO schedule
Issue opens - May 9th
Issue close - May 11th
Issue size - ₹ 1844 crores at the upper end of the price band.
Listing on both NSE and BSE
Retail portion - 35%
Bid lot - 26 shares
Basis of allotment - 16 May
Refunds - 17 May
Credit of shares - 18 May
Listing 21 May
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