The Chennai-headquartered non-banking finance company (NBFC) debuted at a discount of 1% at Rs 468.80 as against the given issue price on the National Stock Exchange (NSE).
Ahead of its listing, shares of Five Star were trading at a marginal discount of Rs 5 apiece in the grey market, signalling some disappointment for investors.
Incorporated in 1984,
is a non-banking finance company (NBFC) which provides secured business loans to micro-entrepreneurs and self-employed individuals
The company’s Rs 1,960 crore IPO was sold in the range of Rs 450-474 per share and received a muted investor response.
Allocation reserved for non-institutional investors (NIIs) and retailers was subscribed 61% and merely 11%, respectively. The quota reserved for qualified institutional buyers (QIBs) was subscribed 1.77 times.
The company has an extensive network of 311 branches, spread across eight states and one union territory and about 150 districts across India, with Tamil Nadu, Andhra Pradesh, Telangana and Karnataka being key states.
With more than Rs 3,000 crore in assets under management (AUM), the company has the fastest AUM growth among its compared peers.
