- Five Star Business Financing: Five Star Business Finance, a non-banking finance company, is planning an initial public offering (IPO) to raise Rs 1,960 crore. The non-bank lender provides small business and modest mortgage loans to qualified customers to meet their personal and business needs.
Five Star Business Finance has a significant presence in South India, with the states of Tamil Nadu, Andhra Pradesh, Telangana and Karnataka accounting for 85% of the company’s total portfolio.
2. Archean Chemical Industries: Archean Chemical Industries Limited’s Initial Public Offering (IPO) will be listed on Wednesday. It will be available to subscribers until Friday. The chemical company hopes to raise Rs 1,462.31 crore through the initial public offering. A total of Rs 657.31 crore was seized through the Offer for Sale (OFS) mechanism.
3. Kaynes Technology India: Kaynes Technology India, a design-led electronics manufacturing business, also announced on Thursday that it will carry out its initial public offering (IPO). The price band for each stock has been set at Rs 559-587. The IPO consists of a fresh issue of Rs 530 crore and sale of 55.84 crore shares. The subsidy will be Rs 857.8 crore in the highest price bracket. The deadline for submission is November 14. On Wednesday, the anchor book will be open for one day before the publication of the issue.
4. Inox green energy: Inox Green Energy Services will begin its initial public offering on Friday and close on November 15. Profits from the new offering would be used for debt repayment and general corporate purposes, according to the energy company.
The company plans to announce the price range of the deal early next week. On November 10, the anchor book will be open for one day. Inox Green Energy Services is a subsidiary of Inox Wind (wind turbine generator manufacturer) and a member of the Inox GFL group of companies.