Indostar Capital Finance lists at 5% premium over issue price

Indostar Capital Finance has been listed at Rs 600, a 5% premium against its issue price of Rs 572 on the National Stock Exchange (NSE) and the BSE (Bombay Stock Exchange).
At 10:01 am; the stock was trading at Rs 596, a 4% higher against its issue price. It touched high of Rs 606 and a low of Rs 594 so far. A combined 5.85 million shares changed hands on the counter on the BSE and NSE.

The Rs 18.44-billion initial public offer had received good response with issue over-subscribed 6.8 times. The IPO was received bids for 153.61 million shares against the total issue size of 22.57 million shares.

The category reserved for qualified institutional buyers (QIBs) was subscribed 16.08 times, non institutional investors 6.91 times and retail investors 1.48 times.

The IPO consists of fresh issue of up to Rs 7-billion and an offer for sale of up to 20 million equity shares (including anchor portion of 9.67 million equity shares). The price band for public issue was at Rs 570-572 per share..

GET LIVE UPDATES ON MARKET