Get the Latest Update on Five Star Business Finance IPO Subscription Status
Five Star Business Finance Ltd. is the largest SFB (Small Finance Bank) in India that is planning an initial public offering (IPO) for raising funds from the market. The company filed its Draft Red Herring Prospectus (DRHP) with SEBI (Securities and Exchange Board of India) in April 2021, and the subscription has begun since 29th June 2021.
As per the latest update, Five Star Business Finance IPO has been subscribed 2.11 times on the last day of the offering, July 2, 2021. The company was able to raise INR 1,332 crores from the market by selling shares at a price of Rs. 252 per share during the IPO.
Here is a detailed insight into Five Star Business Finance IPO subscription status:
What is the Five Star Business Finance IPO Subscription Status?
The Five Star Business Finance IPO subscription status is the level of demand for the shares from investors during the IPO. A high subscription rate indicates strong demand for the company’s shares, while a low subscription rate indicates weak demand. The final subscription status of the IPO is derived by dividing the number of shares issued by the company with the total number of bids received at the time.
Five Star Business Finance IPO Subscription Details
The Five Star Business Finance IPO opened on 29th June 2021 and closed on 2nd July 2021. The IPO was available for subscription for three days, and the company offered to sell approximately 53.61 lakh equity shares.
As per the data sourced from BSE and NSE exchange, the IPO subscription for Five Star Business Finance as of July 2, 2021, was as follows:
– Qualified Institutional Buyers (QIB) – 0.63 times subscribed
– Non-Institutional Investors (NII) – 1.84 times subscribed
– Retail Individual Investors (RII) – 5.23 times subscribed
– Overall subscription – 2.11 times subscribed
The retail individual investors’ portion was oversubscribed 5.23 times, indicating strong demand from retail investors. The Non-Institutional Investors (NII) category was subscribed 1.84 times, while the Qualified Institutional Buyer (QIB) category was subscribed 0.63 times.
Conclusion
Five Star Business Finance IPO received a subscription of 2.11 times overall on the last day of the IPO offering. It is crucial to keep a tab on the updates related to the IPO subscription status as they provide an indication of demand and investors’ interest in investing in the company. The strong subscription from retail investors is a positive sign for the company’s future growth prospects.
