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Five Star Business Finance
Non-banking finance company Five-Star Business Finance Ltd has recorded a 40 per cent rise in its profit after tax for the January-March 2024 quarter at Rs 236 crore. The city-based company had registered a profit after tax at Rs 169 crore during the corresponding quarter of last year. Total disbursements made during the quarter under review grew by 20 per cent to Rs 1,336 crore, from Rs 1,110 crore registered in the same period of last year. For the year ending March 31, 2024 the profit after tax grew by 39 per cent to Rs 836 crore from Rs 604 crore registered last financial year. Total disbursements for the year ending March 31, 2024 stood at Rs 9,641 crore, up by 39 per cent from Rs 6,915 crore registered year ago. Commenting on the financial performance, company Chairman and Managing Director Lakshmipathy Deenadayalan said, "Q4 was a very strong quarter across the three aspects of quality, profitability and growth. During the quarter, we disbursed Rs 1,336 crore of loans as ..
Three entities on Friday offloaded 2.55 crore shares of non-banking financial company Five-Star Business Finance for Rs 1,863 crore through open market transactions. Following the share sale, shares of Five-Star Business Finance plunged 5.89 per cent to close at Rs 727.80 apiece on the BSE. Norwest Venture Partners X Mauritius, Matrix Partners India Investment Holdings II LLC and TPG Asia VII SF Pte were the entities that sold the shares of Five-Star Business Finance on the BSE. According to the bulk deal data on the BSE, they offloaded a total of 2.55 crore shares of Five-Star Business Finance in four tranches. The shares were sold in the price range of Rs 730-730.62 apiece, taking the combined transaction value to Rs 1,862.86 crore. Meanwhile, HDFC Mutual Fund acquired 41.19 lakh shares of Five-Star Business Finance, at an average price of Rs 730 apiece, taking the deal value to Rs 300.71 crore.
The primary market continues to be a busy one with four firms, including Archean Chemical Industries and Five Star Business Finance, are set to float their IPOs next week to collectively raise about Rs 5,000 crore. The other two firms whose initial public offerings (IPOs) are ready to open are -- Kaynes Technology India and Inox Green Energy Services. This came after four companies launched their initial share-sales last week. Of these, two IPOs -- maker of snacks and sweets Bikaji Foods International and Global Health Ltd which operates hospitals under the Medanta brand -- are currently underway. The IPOs of Archean Chemical and Five Star Business will be open for public subscription on November 9 and close on November 11, while that of Kaynes Technology and Inox Green are set to kick off on November 10 and November 11 respectively, as per the red herring prospectus (RHP). So far in 2022, as many as 26 companies have floated their IPOs to raise over Rs 48,000 crore. In 2021, 63 IP