IndoStar Capital Finance promoters to sell 14.2% stake through OFS

The company proposes to sell 1,93,40,000 equity shares, representing 14.21 per cent of the total paid-up equity shares with a face value of Rs. 10.00″, IndoStar Capital Finance said in an exchange filing.

OFS The company said that today (May 3, 2023) for non-retail investors and on Thursday (May 4, 2023) for retail investors and a separate, designated window provided by BSE and NSE for non-retail investors will open through ,

FMCG is looking to sell 1.82 crore units (13.38% of the total paid-up equity share capital) while Everstone Capital plans to offload 11,35,000 shares which is 0.83% of the total paid-up equity share capital.

The floor price of the offer will be 95 per equity share, the company said.

Ten percent of the offer size shall be reserved for allotment to retail investors subject to receipt of valid bids, Indostar Capital Added.

The unsubscribed portion of the Offer Shares reserved for retail investors will be available for allotment to investors in the non-retail category who have opted to carry forward their unallotted bids to T+1 day.

A minimum of 25% of the Offer Shares will be reserved for mutual funds and insurance companies, at or above the floor price and subject to receipt of valid bids as per the method of allotment. In the event of any undersubscription by mutual funds and insurance companies, the unsubscribed portion will be available to other bidders.

The allotment will be at or above the floor price on the basis of price preference based on multiple-clearing prices.

The company said in a regulatory filing that Motilal Oswal Financial Services would be the ‘selling broker’ and BSE would be the designated stock exchange.