Five Star Business Finance Shares End At 3.57% Premium Over IPO Price
Five Star Business Finance launched its three-day IPO on Nov. 9 and the IPO was subscribed 70% on the last day.
The shares of Five Star Business Finance Ltd. ended at a premium of 3.57% over the IPO price, while it gained 8.79% from its listing price, to end at Rs 489.50.
Five Star Business Finance launched its three-day initial public offering on Nov. 9. The IPO was subscribed 70% or 0.70 times on the last day.
Shares of Five Star Business Finance listed at Rs 449 apiece on the BSE Ltd., a discount of 5.27% to its IPO price of Rs 474 apiece. On the National Stock Exchange of India Ltd., the stock debuted at Rs 468, a 1.26% discount.
The Chennai-headquartered lender deals in secured business loans to micro-entrepreneurs and self-employed individuals, each of whom are largely excluded by traditional financing institutions. As of June 30, loans to small business owners and self-employed borrowers accounted for 70.15% of gross term loans.