KKR-backed Indian shadow lender Five Star said to target IPO at 27% lower valuation

KKR-backed Indian shadow lender Five Star said to target IPO at 27% lower valuation

Photo: Mint

Indian non-banking finance company Five Star Business Finance is planning to make its stock market debut within weeks, with anchor investors including Fidelity Investments in talks to subscribe to the issue at a valuation 27% below the company’s last fundraising, three sources said.

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