Indostar Capital Finance plans to utilize the net proceeds from the IPO towards augmenting its capital base to meet future capital requirements. Photo: iStockphotoNew Delhi: Indostar Capital Finance has received approval of Securities and Exchange Board of India (Sebi) to go-ahead to raise an estimated Rs2,000 crore through initial public offering (IPO). Going by the draft papers, IndoStar Capital Finance’s IPO comprises issuance of fresh shares worth Rs700 crore and existing shareholders will offer up to 2 crore shares. The Indostar Capital IPO will enhance the NBFC’s brand name and create public market for its equity shares in the country. Ltd will manage the Indostar Capital IPO.

Source: Mint April 09, 2018 13:52 UTC