Five Star Business Finance IPO Allocation Likely Today, Check Status, GMP Here

Metalg

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posted on 2 years ago — updated on 1 second ago

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Non-banking finance company Five Star Business Finance's initial public offering (IPO) allotment status is likely to be revealed today.

Non-banking finance company Five Star Business Finance’s initial public offering (IPO) allotment status is likely to be revealed today. Those who have applied for the shares can check the allotment status online via the BSE website or via the official registrar’s website. The Five Star Business Finance IPO received a lukewarm response, with only 70 percent of the shares on offer receiving bids even on the final day of bidding. A filled institutional portion of the IPO helped it pull through. The portion of qualified institutional buyers (QIBs) was subscribed 1.77 times

The grey market premium (GMP) reveals a potentially unfavourable outcome for the IPO. According to the latest report by the Mint, the GMP of the IPO today is minus Rs 5. This implies that the grey market expects a discounted opening for the IPO.

Bidders who have applied for the IPO can check the Five Star Business Finance IPO’s allotment status online once the share allocation is announced. There are two ways one can go about this. The first is by logging in to the BSE website. Bidders can do this in three simple steps.

Step 1: Log in at the direct BSE link- bseindia.com/investors/appli_check.aspx and select Five Star Business Finance IPO.

Step 2: Enter your application number for this IPO.

Step 3: Enter your PAN details, verify that you are not a robot, and submit. Your page should display the information you are looking for.

The second method is to log in at the official registrar’s website. KGin Technologies Limited is the official registrar of the IPO.

Step 1: Follow the direct Link Intime web link kprism.kfintech.com/ipostatus/ and log in here.

Step 2: Pick the Five Star Business Finance IPO option.

Step 3: Enter your PAN details and press the search button. The page will display the allotment status.

The Five Star Business Finance’s Rs 1,960 crore IPO, which had a price band of Rs 450-474 per share, received a rather dull response. Only 61 percent of the shares reserved for non-institutional investors saw bidding. The number was at an even lower 11 percent of the reserved stock for retail bidders.

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