Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
IPO News

| More

IndoStar Capital Finance Limited Offer opens on May 9, 2018

Posted On: 2018-05-09 08:48:26

- The Price Band to the Offer is Rs. 570 to Rs. 572 per Equity Share
- The Floor Price is 57 times of the face value and the Cap Price is 57.2 times of the face value of the Equity Shares.
- Bids can be made for a minimum of 26Equity Shares and in multiples of 26 Equity Shares thereafter.
- The IPO comprises a Fresh Issue aggregating up to Rs. 7,000 million and an Offer for Sale of up to 20,000,000 Equity Shares.
- Offer Opening Date - May 9, 2018 and Offer Closing Date - May 11, 2018.

IndoStar Capital Finance ("Company") will be launching its initial public offering ("IPO" or the "Offer"). The IPO is scheduled to open on May 9, 2018 and close on May 11, 2018 with a price band of Rs. 570 to Rs. 572 per equity share of face value of Rs. 10 each of the Company (the "Equity Shares"). The anchor investor allocation will be a day prior to the Bid/Offer Opening Date i.e. May 8, 2018.

The IPO comprises a Fresh Issue aggregating up to Rs. 7,000 million ("Fresh Issue") and an Offer for Sale of up to 20,000,000 Equity Shares by the selling shareholders, comprising an offer for sale of up to 18,508,407 equity shares by Indostar Capital ("Promoter Selling Shareholder") and an offer for sale of up to 1,491,593 Equity Shares by the Other Selling Shareholders (as defined in the RHP, and together with the Promoter Selling Shareholder, the "Selling Shareholders", and such offer for sale, the "Offer for Sale").

The Company intends to primarily utilize the Net Proceeds of the Fresh Issue for augmenting its capital base to meet future capital requirements.

The Offer is being made in terms of Rule 19(2) (b) of the Securities Contracts (Regulation) Rules, 1957 (SCRR), through the Book Building Process in accordance with Regulation 26(1) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (the "SEBIICDR Regulations"), wherein 50% of the Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers ("QIBs"). Our Company and the Promoter Selling Shareholder, in consultation with the BRLMs, may allocate up to 60% of the QIB Portion to Anchor Investors at the Anchor Investor Allocation Price, on a discretionary basis, out of which at least one-third will be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price.

In the event of under-subscription or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion. Such number of Equity Shares representing 5% of the Net QIB Portion (other than Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only. The remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to QIBs (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received from them at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion for proportionate allocation to QIBs.

Further not less than 15% of the Offer shall be available for allocation on a proportionate basis to Non Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders in accordance with the SEBIICDR Regulations, subject to valid Bids being received from them at or above the Offer Price such that, subject to availability of Equity Shares, each Retail Individual Bidder shall be Allotted not less than the minimum Bid Lot, and the remaining Equity Shares, if available, shall be allotted to all Retail Individual Bidders on a proportionate basis.

All Bidders, other than Anchor Investors, shall participate in the Offer mandatorily through the Applications Supported by Blocked Amount ("ASBA") process by providing the details of their respective bank accounts in which the corresponding Bid Amount will be blocked by the self-certified syndicate banks. Anchor Investors are not permitted to participate in the Offer through the ASBA process.

JM Financial Limited, Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, Motilal Oswal Investment Advisors Limited and Nomura Financial Advisory and Securities (India) Private Limited are the Book Running Lead Managers to the Offer. The Registrar to the Offer is Link Intime India Private Limited.

The Equity Shares are proposed to be listed on BSE Limited and National Stock Exchange of India Limited.

All capitalized terms used herein and not specifically defined shall have the same meaning as ascribed to them in the RHP.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

IndoStar Capital Finance Ltd - IPO Note - Angel Broking

IPO Note - SoftTech Engineers Ltd - Arihant Capital Markets Ltd

Hindustan Aeronautics Ltd to list on March 28, 2018

Expectations high on listing of Bandhan Bank shares tomorrow

Mishra Dhatu Nigam Limited IPO receives subscription of 1.21 times

Lemon Tree Hotels Limited - IPO Note - Angel Broking

Mishra Dhatu Nigam Ltd - IPO Note - Sushil Finance

ICICI Securities Ltd - IPO Note - Sushil Finance

Lemon Tree Hotels Ltd - IPO Note - Sushil Finance

Mishra Dhatu Nigam Ltd - IPO Note - Angel Broking

Mishra Dhatu Nigam Ltd - IPO Note - Avoid - Hem Securities

ICICI Securities Ltd - IPO Note - SSJ Finance & Securities

Mishra Dhatu Nigam Ltd - IPO Note - Subscribe - SSJ Finance & Securities

IPO Note: MISHRA DHATU NIGAM LTD - NOT RATED - Kotak

IPO Note: ICICI Securities Ltd - SUBSCRIBE - Kotak

IPO: Mishra Dhatu Nigam Ltd - IIFL

Sandhar Technologies Limited - IPO Note - Angel Broking

Hindustan Aeronautics LTD - IPO Note - HEM Securities

ICICI Securities IPO to open for subscription on Mar 22, 2018

IPO Note: Sandhar Technologies Ltd - SUBSCRIBE - Kotak

IPO Note: Hindustan Aeronautics Ltd - SUBSCRIBE - Kotak

Bandhan Bank Ltd - IPO Note - Subscribe - HEM Securities

HDFC Asset Management Company Ltd files DRHP for IPO

Bandhan Bank Ltd - IPO Note - Subscribe - SSJ Finance

Bandhan Bank Limited - IPO Note - Angel Broking

IPO of ICICI Securities Ltd to open on March 22, 2018

Bharat Dynamics Ltd - IPO Note - SUBSCRIBE - Kotak

Bharat Dynamics Ltd - SUBSCRIBE - IPO Report - HEM SECURITIES

Bandhan Bank Ltd - IPO NOTE - Arihant Capital Markets

Bharat Dynamics Ltd - SUBSCRIBE - IPO Note - SSJ Finance

Bharat Dynamics Ltd - IPO Note - Angel Broking

Sarveshwar Foods Limited - IPO NOTE - Arihant Capital Markets

H.G. Infra Engineering Ltd - AVOID - IPO Update - SSJ Finance

HG Infra Engineering - IPO Note - Angel Broking

IPO Note - Aster DM Healthcare Ltd - Avoid - By SSJ Finance & Securities

Galaxy Surfactants Ltd - IPO Note - SUBSCRIBE - SSJ Finance & Securities

Shalby Limited - IPO Note - Angel Broking

Future Supply Chain Solutions Ltd - IPO Note - Angel Broking

HDFC Asset Management Company Limited to file for IPO

Reliance General Insurance receives final observations from SEBI for IPO

Srei Equipment Finance Ltd files DRHP for IPO

Future Supply Chain Solutions Ltd IPO to open for subscription on Dec 6, 2017

New India Assurance Co Ltd - IPO Note - CSEC Research

Khadim India Ltd - IPO Note - Angel Broking

The New India Assurance Company Ltd - IPO Note - Angel Broking

Mahindra Logistics Limited - IPO Note - Angel Broking

IPO of The New India Assurance Company Ltd. opens on November 01, 2017

Reliance Nippon Life Asset Management Ltd - IPO Note - Angel Broking

Srei Equipment Finance Ltd approves IPO

Price band for Mahindra Logistics Limited's IPO fixed



Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2018