Home First Finance files draft papers for IPO

New Delhi, Nov 29 () Mortgage financier Home First Finance Company (HFFC) has filed draft papers with markets regulator Sebi for its proposed initial public offering (IPO).

The IPO consists of fresh issue aggregating up to Rs 400 crore and an offer-for-sale of up to Rs 1,100 crore by selling shareholders, according to the draft red herring prospectus (DRHP).

The offer is worth Rs 1,500 crore, according to the DRHP.

True North Fund V LLP, Aether (Mauritius) Ltd, Bessemer India Capital Holdings II Ltd, P S Jayakumar, Manoj Vishwanathan and Bhaskar Chaudhry are the promoter and investor selling shareholders.

Shares of the company are proposed to be listed on the National Stock Exchange (NSE) and the BSE.

Axis Capital, Credit Suisse Securities (India) Pvt Ltd, ICICI Securities and Kotak Mahindra Capital Company will manage the share sale.

Up to 50 per cent of the offer will be available for allocation to qualified institutional buyers (QIBs). Further, up to 15 per cent of the offer will be available for allocation on a proportionate basis to non-institutional bidders and 35 per cent of the offer will be for retail individual bidders, it said.

The company intends to utilise the net proceeds towards augmenting its capital base to meet its future capital requirements. SUM HRS