Home First Finance’s initial public offering (IPO) will open for subscription on January 21 and close on January 25. This will be the third IPO in 2021 after the public offers by Indian Railway Finance Corporation (IRFC) and Indigo Paints. The shares are likely to be listed on the BSE Sensex and NSE Nifty on February 3.
The Rs 1,153.71-crore IPO comprises of a fresh issue of Rs 265 crore and an offer for sale of Rs 888.72 crore by promoters and existing shareholders, including True North Fund V LLP, Aether (Mauritius) and Bessemer India Capital Holdings II.
Investors can bid for a minimum one lot of 28 equity shares and in multiples up to 13 lots, in the price band of Rs 517-518 per share. A total of up to 50 per cent of the issue will be reserved for qualified institutional buyers (QIBs), 35 per cent for the retail category and 15 per cent for non-institutional group.
Founded in 2010, Home First Founded in 2010 is an affordable housing finance company, providing home loans to customers belonging to the low and middle-income segments. It is spread across 60 districts across 11 states and a Union Territory, with significant presence in the urban regions of Gujarat, Maharashtra, Karnataka and Tamil Nadu.
Axis Capital, Credit Suisse Securities (India), ICICI Securities and Kotak Mahindra Capital Company are the book running lead managers to the public issue, while KFintech Private Limited is the registrar to the issue.