Five Star Business Finance IPO Day 1: Non-banking finance company Five Star Business Finance hit primary markets today. The public issue worth Rs 1,960.01 crore is going to open today, November 9 and it will remain open for bidding till November 11, 2022. The offer size has been reduced to 3.04 crore shares, from 4.13 crore shares after the NBFC raised Rs 588 crore from anchor investors on November 7, a working day before the issue opened.
Five Star Business Finance, which provides business loans to microentrepreneurs and self-employed individuals, aims to mobilise Rs 1,960 crore from the public issue that comprises only an offer-for-sale of 4.13 crore shares by selling shareholders.
Five Star Business Finance IPO Subscription Status
The public issue of non-banking finance company Five Star Business Finance has mopped up bids for 2.36 lakh equity shares against an offer size of 3.04 crore shares subscribing 1 per cent on the first day of bidding.
Retail investors and high networth individuals started off putting in bids for the issue, while qualified institutional buyers have not bought any shares yet.
Retail bought 1 percent shares of the allotted quota, while high net worth individuals have bids for 13,423 shares against 65.33 lakh shares reserved for them. Half of the offers is reserved for qualified institutional investors, 15 per cent for non-institutional investors, and the rest for retail investors.
Five Star Business Finance IPO Financials
The NBFC posted a 19.49 per cent growth in total income at Rs 1256.16 crore in FY22 from Rs 1051.25 crore in FY21, while its net profit stood at Rs 453.54 crore in FY22 from Rs 358.99 crore in FY21.
Total income increased by 12.74 per cent to 339.05 crore for the three months ended June 30, 2022, from Rs 300.75 crore for the three months ended June 30, 2021, primarily due to an increase in revenue from operations. Profit after tax increased by 37.28 per cent to Rs 139.43 crore for the three months ended June 30, 2022, from Rs 101.57 crore for the three months ended June 30, 2021.
The public issue is priced at a price band of Rs 450 to Rs 474 per equity share. It will open for subscription on November 9 and it will remain open for bidding till November 11, 2022. The PO is proposed for listing on both BSE and NSE and it is likely to list on November 21, 2022.
Five Star Business Finance IPO GMP Today
As per the market observers, Five Star Business Finance IPO grey market premium (GMP) today is Rs 12, which is Rs 2 higher from its Tuesday GMP of Rs 10 per equity share.
The tentative date for share allocation is November 16, 2022. KFin Technologies Limited has been appointed as official registrar of the public issue.
The public issue is proposed for listing on both BSE and NSE. Shares of Five Star Business Finance are likely to list on 21st November 2022.
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