Indostar Capital Finance IPO subscribed 6.35 times

The most sought-after IPO of recent times, Indostar Capital Finance IPO, was subscribed – per cent till 4 pm on its last day of subscription, on Friday.

The IPO which open on May 9 is offered at the price band of Rs. 570-572 per share. Post the IPO, the company will be trading at P/BV of 1.3 times its book value of Rs. 430 per share as of Q3FY18, at the upper end of the price band at Rs. 572 per share,

According to the data provided by NSE, total bid received for the IPO was 14,32,53,552, with 1,03,22,026 received at cut-off price. The total issue size is of 2,25,75,438 equity shares. The IPO was subscribed 6.35 times at 16:00 pm on Thursday.

Among the top anchor investors were Aditya Birla Sunlife, Bajaj Alliance Life, BNP Paribas Arbitrage, EastBridge, Fidelity, HDFC Life Insurance, ICICI Lombard General Insurance, ICICI Prudential Life Insurance, National Westminister Bank and SBI Life Insurance. While among anchor investors under the mutual fund house category, Aditya Birla MF, HDFC MF, Motilal Oswal, Reliance, SBI MF, Sundaram subscribed to the issues.

Incorporated in 2009, Indostar Capital Finance Limited is a top non-banking finance company (NBFC) headquartered in Mumbai, India. The finance company offers structured term financing to corporate companies and lends to small and medium enterprises (SMEs).