The Latest Five Star Business Finance IPO Subscription
Five Star Business Finance has recently launched its initial public offering (IPO) for subscription. The non-banking financial institution has initiated this step to raise funding for its business expansion plans across South India. The company is primarily engaged in providing collateral-free loans and small-ticket loans to micro and small enterprises with asset-light business models.
As per the latest reports, the Five Star Business Finance IPO subscription has received a great response from retail and institutional investors. The company plans to raise over $94 million through its IPO by offering 22.2 million equity shares at a face value of INR 10 each.
Let’s take a closer look at the Five Star Business Finance IPO subscription status and its impact on the stock market.
Subscription Status
The Five Star Business Finance IPO opened on June 7, 2021, and closed on June 9, 2021. The subscription status of the IPO was oversubscribed by 9.74 times, with the retail investor portion being oversubscribed by 14.62 times, and the institutional investor portion getting oversubscribed by 7.22 times. The non-institutional investor portion was oversubscribed by 2.76 times.
The response from the retail investors has been overwhelming. The issue received bids for 1.72 billion equity shares against the offer size of 2.2 million shares. The institutional segment subscribed to 8.64 million shares against the reserved portion of 1.2 million shares.
Impact on the Stock Market
The Five Star Business Finance IPO subscription status has positively impacted the stock market. The IPO has received an excellent response from investors, indicating a strong demand for the company’s equity shares. As a result, the stock prices of the company are expected to rise, creating value for the investors.
Moreover, the Five Star Business Finance IPO subscription has helped in boosting investor confidence in the Indian stock market. The oversubscription of the IPO indicates that investors are optimistic about the growth prospects of the company and the economy as a whole.
Conclusion
The Five Star Business Finance IPO subscription has received an overwhelming response from investors. The oversubscription of the IPO indicates a strong demand for the company’s equity shares, which is expected to create value for the investors. The IPO has also helped in boosting investor confidence in the stock market, indicating a positive growth outlook for both the company and the economy.
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