IndoStar Capital Finance Promoters to Sell 14.21% Stake via OFS

capital-finance

Indostar Capital and Everstone Capital Partners II LLC, the promoter entities, have announced their plans to sell up to 1.93 crore equity shares, which represent a 14.21% stake in IndoStar Capital Finance. This will be done through an offer for sale on May 3-4 at a floor price of Rs 95 per equity share. The sale is aimed at raising funds for the promoters and reducing their stake in the company. Interestingly, the company’s shares have seen a significant rise of over 40% since the beginning of this year. Investors are closely watching this move as it could potentially impact the stock price of IndoStar Capital Finance significantly.