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a leading non-banking finance company, initial public offering is opening for subscription today. The issue will close on May 11, 2018.he price band of the issue is Rs 570-572 per equity share of face value of Rs 10 each. The IPO lot size has been set at 26 shares, which at the upper end of the price band accrues to Rs 14,872. The company plans to raise Rs 1,800-2,000 crore including fresh capital worth Rs 700 crore.
The company's equity shares are proposed to be listed on the National Stock Exchange and BSE.
In a very short time span of 6 years, Indostar has built healthy corporate lending business & strong relationships with leading corporates to grow better than industry growth. It has also forayed into the SME segment in 10 major cities of India which accounts for more than 20% of credit book.
Considering parameters like institutional investors ensuring corporate governance standards, better CV business cycle, decent asset quality through robust credit assessment, strong credit rating and reasonable valuation makes this offer a rewarding investment on long term horizon. Hence we recommend investors to subscribe on the issue.
The company started out primarily catering to the corporate. However since last 2-3 years, it has diversified into retail lending as well. As of today, the corporate book forms about 77% of the total exposure while SME forms another 22% and rest being housing and vehicle finance combined.
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