CHENNAI: City-based non-banking financial company Five Star Business Finance Limited has filed its draft red herring prospectus (DRHP) for a Rs 2,752 crore public offer with SEBI.
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.