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Five Star Business Finance debuts at 5% discount at Rs449 on BSE

21 Nov 2022 , 10:22 AM

A non-banking financial corporation Five Star Business Finance, made a discounted debut on the stock exchange today. The stock is listed at Rs449.95, with a discount of 5% to its issue price of Rs474.

Shares got listed at Rs468.80 per share on the National Stock Exchange (NSE), down by 1.10% against the given issue price.

At around 10:15 AM, the stock is currently trading at Rs465.25 per share up by 15.30 or 3.40% from its previous closing of Rs449.95 on the BSE. The scrip opened at Rs449.95 per share and has touched a high and low of Rs473.75 per share and Rs448.20 per share respectively.

The IPO was subscribed 70% on its final day of bidding on November 11. The public issue is priced at a price band of Rs450 per share to Rs474 per share.

The retail investors portion was subscribed 11% of the quota, while the portion for non-institutional investors was subscribed 0.61 times on the last day.

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. 

For feedback and suggestions, write to us at editorial@iifl.com

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