970*90
768
468
mobile

Everstone-backed IndoStar Capital shares Rise on stock market debut

Franchise India Bureau
Franchise India Bureau May 21 2018 - 1 min read
Everstone-backed IndoStar Capital shares Rise on stock market debut
IndoStar is the 14th company to list on the main board of the bourses in 2018. Seven of the previous 13 companies had gained on debut.

Mumbai-based IndoStar Capital Finance Ltd made a positive start on the stock exchanges on Monday, with its shares listing at a 4.9% premium.

Shares of the Everstone Capital-backed non-banking finance company (NBFC) began trading on the BSE at Rs 600 compared with the initial public offering (IPO) price of Rs 572, stock-exchange data showed.

The stock touched a high and a low of Rs 606.30 and Rs 591.10, respectively, in early trade. The BSE’s benchmark Sensex was flat.

The company now commands a market capitalisation of Rs 5,423 crore.

IndoStar is the 14th company to list on the main board of the bourses in 2018. Seven of the previous 13 companies had gained on debut.

The positive listing follows an IPO that received a strong response from investors. The IPO was subscribed 6.5 times.

Subscribe Newsletter
Submit your email address to receive the latest updates on news & host of opportunities
Entrepreneur Magazine

For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you

or Click here to Subscribe Online

Newsletter Signup

Share your email address to get latest update from the industry