Non-banking financial firm Five Star Business Finance’s initial public offering (IPO) worth ₹1,960 crore is set to open today for bidding for the next two days. The Non Banking Financial Company has fixed the IPO price band at ₹450 to ₹474, Livemint reported.
According to reports, the shares of Five Star Business Finance are available at a premium of ₹12. The NBFC is planning to raise ₹1,960 crore from the IPO. According to report, the bidder will be able to subscribe in 32-share lots. The tentative date of share allocation has been fixed at November 16, and will be listed on both the Bombay Stock Exchange and National Stock Exchange.
The company provides secured business loans to micro-entrepreneurs and self-employed individuals.
On the other hand, the share allocation of DCX Systems Ltd’s IPO is set to be announced any time today. Those who have applied for the initial public offering, can check their allotment status online by logging in at the Bombay Stock Exchange website, Livemint reported.
On the last day of bidding, the IPO had received 69.79 times the subscription, the data on National Stock Exchange website stated. Its price range was at ₹197-207 a share.
The Bengaluru-based company is primarily engaged in system integration and manufacturing of a comprehensive array of cables and wire harness assemblies, and are also involved in kitting.
The share allotments of Fusion Microfinance’s IPO are likely to be carried out tomorrow. The bidders can check their allotment status through the BSE website or that of the official registrar i.e Link Inktime Private Limited. According to the market observers, the shares are available at a premium of ₹6 at the grey market, Livemint reported.
The company has a fixed price band of ₹350-368 per share for its IPO worth ₹1,104 crore. The IPO comprises fresh issuance of equity shares worth ₹600 crore and an offer of sale of 1,36,95,466 equity shares by promoters and existing shareholders.
(With PTI inputs)