Wednesday, February 28, 2018

IndoStar Capital files DRHP for 2000 crore IPO

IndoStar Capital Finance has filed draft red herring prospectus with SEBI for 2000 crore ipo. The company is a non-banking finance company and they might raise around Rs.2000 crore from capital market. They are coming with fresh issue of 700 crore shares as per DRHP.

The ipo will be managed by JM Financial, Kotak Mahindra Capital Company, Morgan Stanley India Company, Motilal Oswal Investment Advisors and Nomura Financial Advisory and Securities (India) Pvt Ltd.

IndoStar Capital was capitalised in 2011 by global investors. The company is an independent credit institution. The current share holders are Everstone Capital, Beacon India Fund, ACPI Investment Managers and CIDB Capital. Company got the expansion in the portfolio by adding vehicle finance and housing finance.

Company said "Our company proposes to utilise the net proceeds from the fresh issue towards augmenting its capital base to meet future capital requirements,"