TPG, Matrix Partners, Norwest Ventures, Sequoia and KKR backed Five Star Business Finance backed Five Star had attained Unicorn status in March this year. The private lender closed a $234 million funding round that valued it at around $1.4 billion in March, earning a unicorn status.
It will now be going for a complete offer for sale (OFS) of its promoters’ shares up to the value of Rs Rs 2,752 crore.
The OFS includes offer of Rs 257.10 crore by SCI Investments V (Sequoia’s fund), Rs 568.92 crore by Matrix Partners India Investment Holdings II, LLC, Rs 9.56 crore by Matrix Partners India Investments II Extension, LLC, Rs 385.65 crore by Norwest Venture Partners X – Mauritius, Rs 1349.78 crore by TPG Asia VII SF Pte Ltd, Rs 180.93 crore by a part of the Promoter Group.
Currently, TPG Asia VII SF Pte Ltd holds 20.99%, Matrix Partners India Investments Holdings II, LLC, holds 14.09%, Individual Promoters Lakshmipathy Deenadayalan, Hema Lakshmipathy and Shritha Lakshmipathy combined at 20.26% and Norwest Venture Partners X – Mauritius own 13.01% and 10.22% stake in the company, respectively.
Founded in 1984, the NBFC offers consumer and vehicle loans.