Indostar Capital Finance IPO subscribed 6 times overall
14/05/2018 00:29
The initial public offer of non-banking finance company Indostar Capital Finance was subscribed 6.80 times on the last Friday, reported PTI.

The Rs 1,844-crore IPO received bids for 15,34,39,156 shares against the total issue size of 2,25,75,438 shares, data available with the NSE showed.

The qualified institutional buyers (QIBs) portion was subscribed 16.05 times, non institutional investors 6.92 times and retail investors 1.34 times, merchant banking sources said.

The IPO comprises fresh issue of up to Rs 700 crore and an offer for sale of up to 2 crore equity shares, including anchor portion of 9,671,328 shares. The price band has been fixed at Rs 570-572 apiece.

Proceeds from the fresh issue of shares would be used to augment capital base to meet future capital requirements.

JM Financial, Kotak Mahindra Capital Company, Morgan Stanley India Company, Motilal Oswal Investment Advisors and Nomura Financial Advisory and Securities (India) are managing the issue.