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13-Feb2018

IndoStar Capital Finance files DRHP with SEBI for IPO

IndoStar Capital Finance has filed a Draft Red Herring Prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to float its initial public offering (IPO). The IPO comprises issuance of fresh shares worth Rs 700 crore. Besides, existing shareholders will offer up to 2 crore shares.

The company will raise an estimated Rs 2,000 crore through an initial share-sale. The company proposes to utilize the net proceeds from the issue towards augmenting its capital base to meet future capital requirements. The IPO will also enhance its brand name and create public market for its equity shares in the country.

JM Financial, Kotak Mahindra Capital Company, Morgan Stanley India Company, Motilal Oswal Investment Advisors and Nomura Financial Advisory and Securities (India) will manage the issue.

IndoStar Capital Finance is a non-banking financial company, provides various financing services to large and mid-sized corporates in India. The corporate and SME-focused non-banking finance player has recently expanded its portfolio to offer vehicle finance and housing finance products.




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