The IPO comprises a fresh issue of Rs700 crore and an offer-for-sale of 20 million shares by the promoters of IndoStar Capital. Photo: iStockMumbai: The Rs1,844 crore IPO of non-banking financial company (NBFC) IndoStar Capital Finance Ltd witnessed an overall subscription of 41% on Wednesday, the first day of the share sale. IndoStar Capital Finance was started in 2011 by private equity investors Everstone Capital, ACPI Investment Managers, Beacon India Fund and CIDB Capital. Everstone holds a 51.24% in IndoStar Capital. On Tuesday, IndoStar Capital Finance raised Rs553 crore by selling shares to 24 institutional investors as part of its anchor book allocation.

Source: Mint May 09, 2018 15:11 UTC