- December 6, 2022
- Posted by: Bastion team
- Category: World News
Shares of Five-Star Business Finance Ltd (FSBF) zoomed 19 per cent to Rs 619.50, hitting its highest level since listing, on the BSE on Tuesday. The stock of the non-banking finance (NBFC) made its market debut on November 21. The stock of FSBF is now 31 per cent higher against its issue price of Rs 474 per share. It has also bounced back 38 per cent from its 52-week low of Rs 448.20, touched on the listing day.
FSBF is a NBFC registered with Reserve Bank of India, and has a network of 352 branches catering to around 250,000 active live accounts in Tamil Nadu (including the Union Territory of Puducherry), Andhra Pradesh, Telangana, Karnataka, Madhya Pradesh, Maharashtra, Uttar Pradesh and Chattisgarh.
The Company primarily offers small loans for business purposes, asset creation and other economic purposes to micro-entrepreneurs, and selfemployed individuals after due underwriting of their cashflows and backed by the collateral of…