Five-Star Business Finance Ltd Overview
Fundamentals of Five-Star Business Finance Ltd
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Financials of Five-Star Business Finance Ltd
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About Five-Star Business Finance Ltd
Five-Star Business Finance Limited was incorporated as a Private Limited Company under the name, 'Five-Star Business Credits Private Limited' at Chennai, Tamil Nadu dated May 7, 1984. The Company conv ... erted from a Private Limited to a Public Limited and consequently, name of the Company was changed from Five-Star Business Credits Private Limited' to Five-Star Business Credits Limited' on October 3, 1988. Subsequently, Company changed its name of to Five-Star Business Finance Limited' pursuant to a Special Resolution passed by the Shareholders at the EGM held on April 12, 2016, and a fresh Certificate of Incorporation consequent upon change of name was issued by the RoC on May 13, 2016. The Company is registered with the RBI to carry on the business of non-banking financial institution without accepting public deposits. The Company is an NBFC-ND-SI providing secured business loans to micro-entrepreneurs and self-employed individuals, each of whom are largely excluded by traditional financing institutions. Headquartered in Chennai, Tamil Nadu with a strong presence in South India, all of its loans are secured by the borrowers' property, predominantly being SORP. The Company is primarily engaged in providing loans for business purposes, house renovation / extension purposes and other mortgage purposes. The Company had an extensive network of 311 branches, as of June 30, 2022 with Tamil Nadu, Andhra Pradesh, Telangana and Karnataka being the key states. It started operations in Chennai, Tamil Nadu and has increased scale of operations through growth in number of branches across geographies where there is substantial demand for their offering. It has implemented a comprehensive and robust credit assessment, risk management and collections framework to identify, monitor and manage risks inherent in their line of business. Apart from this, the Company secure financing from diversified sources of capital, including term loans; proceeds from loans securitized; proceeds from the issuance of NCDs; issuance of principal protected market linked debentures; and proceeds from loans assigned from banks, financial institutions, mutual funds, and other domestic and international development financial institutions, as applicable to meet capital requirements. In 2008, the Company rearranged portfolio for advances by moving focus to financing the immovable properties. In 2017, it expanded the geographical presence to Telangana. The Company had 1 wholly owned subsidiary, Five-Star Housing Finance Private Limited upto the financial year 2018-2019, which was merged with itself in financial year 2019-2020. The Company came out with a Public Issue during November, 2022 by raising Rs. 1960.005 crores through Offer for Sale. Read More
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