 "initial public offerings")
Non-banking financial company FiveStar Business Finance's initial public offering (IPO) was subscribed two per cent on the first day of the issue.
The company received bids for 7,21,742 shares against 3,04,88,966 shares on offer, according to data available on the National Stock Exchange (NSE).
Retail individual investors subscribed 4.30 lakh shares. Qualified Institutional Buyers (QIBs) have bid for 2.55 lakh shares.
These bids account for 2 per cent of the total offer size. The IPO closes on November 11.
FiveStar Business Finance has fixed a price band of Rs 450-Rs 474 per share.
On Monday, FiveStar Business Finance Ltd said it has raised Rs 588
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