/cdn.vox-cdn.com/uploads/chorus_asset/file/25784221/247333_EOY_Package_Check_In_CVirginia_PRIME.jpg?w=400&resize=400,250&ssl=1 "Amazon Prime Video: the best shows from 2024")
Five-star Business Finance Block Deal: 28 mn shares change hands, stk up 4%
Source: Business Standard
Five-star Business Finance shares surge: Five-Star Business Finance share price was buzzing on Thursday, September 26, as the scrip rallied up to 3.78 per cent to hit an intraday high of Rs 847.45 per share.
While Business Standard could not independently confirm the buyers and sellers in the deal, reports suggested Peak XV Partners and other private equity investors could be the likely sellers.
According to various reports, TPG Asia, Norwest Venture Partners, and Peak XV Partners (formerly Sequoia Capital) likely offloaded Five Star Business Finance shares.
Until quarter-ending June, TPG Asia held 9.28 per cent, Norwest Venture Partners had 5.16 per cent while Peak XV Partners held 3.77 per cent.
At 10:23 AM, shares of the company were off highs and were trading 0.32 per cent higher at Rs 811 per share. In comparison, BSE Sensex was trading 0.27 per cent higher at 85,403.52 levels.
Five-Star Business Finance Limited is a non-deposit taking, non-banking finance company (NBFC) that specialises in providing loans for various purposes, primarily focusing on business needs, home renovations, and other mortgage-related activities.
The company offers tailored loans for small businesses and micro-entrepreneurs, supporting operational requirements and asset creation, as well as mortgage loans for personal uses like home improvement and significant life events, such as education or marriage. Loan amounts range from Rs 1 lakh to Rs 10 lakh, with tenures of up to seven years, requiring repayment in monthly equated instalments.
Eligibility is determined through thorough underwriting of cash flows, with loans secured by collateral from the borrower’s house property.
Five-Star Business Finance sources its loans primarily through in-house efforts, leveraging local marketing, repeat customers, and walk-in clients, effectively addressing diverse financial needs and contributing to economic growth among individuals and small businesses.
The market capitalisation of the company is Rs 23,719.83 crore, according to BSE. The company falls under the BSE500 category.
The 52-week high of Five-Star Business Finance is Rs 860 per share while 52-week low of Rs 601 apiece.
First Published: Sep 26 2024 | 10:40 AM IST
