Five Star Business Finance company is going to launch IPO on 7th November, total value is 1960 crore, stay tuned!

If you also invest money through IPO in the stock market, then this news is for you, Rs 1,960 crore IPO of NBFC company Five Star Business Finance is going to open. The IPO will be open to the general public from November 9 to November 11, while the IPO will be opened for anchor investors on November 7.

This will be the complete IPO offer for sale. shares worth Rs 1960 crore will be sold on behalf of the existing promoters and investors. Let us tell you, on selling IPO shares under the offer for sale, all the money goes to the promoters and investors and not to the company. 

Who is selling shares in Five Star Business Finance IPO

Notably, Five Star Business Finance has been invested by world's largest investors such as TPG, Matrix Partners, Norwest Ventures, Sequoia and KKR. According to the draft issued by the company, SCI Investments worth Rs 166.74 crore, Matrix Partners Rs 731 crore, Norwest Ventures Rs 361 crore and TPG shares worth Rs 700 crore are being sold in this IPO. 

What does Five Star Business Finance do?

Five Star Business Finance provides secured loans to small businesses and self-employed individuals. The company has a good presence in South India. The company gives loans only against the property of the borrowers. As of June 2022, 85 percent of the company's business comes from Tamil Nadu, Andhra Pradesh, Telangana and Karnataka. The company has 311 branches. The company had a profit of Rs 453 crore in the financial year 2022.