IndoStar Capital Finance IPO opens on May 9

IndoStar Capital Finance will soon enter the capital market with an initial public offer (IPO) of nearly Rs.1,850 crore, which will open on May 9. The company has fixed a price band of Rs.570 to Rs.572 per equity share. The company plans to use the issue proceeds for augmenting its capital base to meet future capital requirements. IndoStar Capital Finance offers structured term financing to corporates and loans to small and medium enterprises in India. It recently expanded its portfolio to offer vehicle finance and housing finance products. JM Financial, Kotak Mahindra Capital, Morgan Stanley India, Motilal Oswal Investment Advisors and Nomura are the investment bankers managing the offering. The IPO will close for subscription on May 11.