IndoStar Capital Finance IPO subscribed 0.36 times

May 09
21:33 2018

The initial public offer of IndoStar Capital Finance was subscribed 0.36 times so far on the first day of bidding today.

The IPO to mop-up Rs 1,800-2,000 crore received bids for 80,46,558 shares against the total issue size of 2,25,75,438 shares, data available with the NSE till 4.15 pm showed.

The segment meant for qualified institutional buyers (QIBs) was subscribed 0.70 times, non institutional investors 0.0015 times and retail investors 0.0486 times according to BSE.

Price band for the issue has been fixed at Rs 570-572.

The company has raised a little over Rs 553 crore from anchor investors.

JM Financial, Kotak Mahindra Capital Company, Morgan Stanley India Company, Motilal Oswal Investment Advisors, Nomura Financial Advisory & Securities are book running lead manager for the issue. Link Intime India is registrar to the issue.

The company’s shares are proposed to be listed on BSE and the National Stock Exchange.

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