May 21, 2018 / 4:40 AM / a month ago

Indostar Capital Finance rises 6.1 percent on market debut

(Reuters) - Shares of Indostar Capital Finance Ltd rose as much as 6.08 percent on their trading debut on Monday after the non-banking finance firm’s initial public offering raised 18.44 billion rupees ($270.65 million).

One rupee coins is seen in this picture illustration taken in Mumbai April 30, 2012. REUTERS/Vivek Prakash/Files

The stock was trading at 596.4 rupees, as of 0434 GMT, compared with the IPO issue price of 572 rupees.

The IPO was subscribed more than six times on the last day of sale earlier in the month.

Reporting By Arnab Paul in Bengaluru, Editing by Sherry Jacob-Phillips

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