Indostar Capital Finance IPO subscribed 69% on Day 2
New Delhi: The initial public offer of non-banking finance company Indostar Capital Finance was subscribed 69% on the second day of bidding on Thursday.
The Rs1,844 crore IPO received bids for 1,55,94,982 shares against the total issue size of 2,25,75,438 shares, NSE data showed.
The category set aside for qualified institutional buyers (QIBs) was subscribed 1.80 times, non institutional investors 3% and retail investors 34%.
The issue, which is in a price band of Rs570-572 per share, would close for bidding tomorrow.
The IPO is of fresh issue of up to Rs700 crore and an offer for sale of up to 2 crore equity shares (including anchor portion of 9,671,328 equity shares).
Indostar Capital Finance on Tuesday raised a little over Rs553 crore from anchor investors.
Proceeds of the fresh issue will be used to augment capital base to meet future capital requirements. JM Financial, Kotak Mahindra Capital Company, Morgan Stanley India Company, Motilal Oswal Investment Advisors and Nomura Financial Advisory and Securities (India) are managing the issue.