IndoStar Capital Finance stock surges on debut
The stock was listed at Rs600, a 5% premium against its issue price of Rs572 on the NSE and the BSE.
The price band of the offer was fixed at Rs570-572 with a face value of Rs10 per share.
The stock is currently trading at Rs592.50 up by Rs20.5 or 3.58% from its previous closing of Rs572 on the BSE.
The scrip opened at Rs600 and has touched a high and low of Rs606.30 and Rs578.50 respectively.
IndoStar is a leading non-banking finance company (NBFC) registered with the Reserve Bank of India as a systemically important non-deposit taking company. It is a professionally managed and institutionally owned organization, which is primarily engaged in providing bespoke Indian Rupee denominated structured term financing solutions to corporates and loans to small and medium enterprise (SME) borrowers in India. The Company recently expanded its portfolio to offer vehicle finance and housing finance products.
The Company operates four principal lines of business, namely corporate lending, SME lending, vehicle financing and housing financing.