Five Star Business Finance IPO will open on November 9th

1 Nov 2022 , 03:32 PM

The IPO of Five Star Business Finance will open for subscription on November 9th. The IPO will close on November 11th. The IPO intends to raise Rs 2751.95 crore through sale of existing shares. This IPO will be completely an Offer for Sale one. No new equity shares will be sold in the IPO. Existing investors of the company will sell some of their stake in this IPO. These investors include TPG Asia, Matrix Partners, Norwest Ventures, SCI Investments etc. 

Five Star Business Finance provides small business loans and small mortgage loans to its customers. The loans provided by it are secured by cash flows of businesses or property assets. The company currently caters mainly to the South Indian market. It has been in operations since 1984. The company is currently profitable. Lead Managers of this IPO are ICICI Securities, Kotak Mahindra Capital, Nomura Financial Advisory and Edelweiss Financial.