Price band of Five Star Business Finance IPO is Rs 450-474 per share

4 Nov 2022 , 10:10 AM

Price band of the IPO of Five Star Business Finance has been fixed at Rs 450-474 per share. Minimum lot size has been fixed at 31 shares. The IPO will open on November 9th. It will close on November 11th. Sale to anchor investors, as part of  the IPO, will be made on November 7th. The IPO intends to raise Rs 1960 crore. This amount has been reduced. Earlier, the IPO intended to raise Rs 2752 crore.

The IPO is completely an offer-for-sale. No new shares will be issued as part of the IPO. Promoters and some of the existing investors will sell their shares in the IPO. Among investors that will sell their shares in the company in the IPO are Matrix Partners, Norwest Venture Partners etc. 

Five Star Business Finance is a Non-banking Financial Services Company. It provides secured loans of relatively small amounts to businesses and individuals.