Home First Finance Company (HFFC) is set to launch its ₹1,153 crore initial public offering on January 21.- The IPO will remain open for subscription until January 25, making it the third IPO of 2021 after $4.
- The company has set the price band at ₹517-₹518 per share.
The company has set the price band at ₹517-₹ 518 per share. An investor can place a minimum bid of 28 equity shares and in multiples of 28, thereafter.
The Mumbai-based affordable housing finance company received capital markets regulator Sebi’s approval for an initial public offering in $4, but the coronavirus pandemic led to the delay in its plans.
The public issue consists of a fresh issue of ₹265 crore and an offer for sale of ₹888.72 crore by existing shareholders, who will be selling part of their stake.
Home First Finance Company opens on Thursday
Once the IPO is concluded, the shares are likely to hit the bourses on February 3. The equity shares will be listed on both the exchanges — BSE and NSE. Axis Capital, Credit Suisse Securities, ICICI Securities and Kotak Mahindra Capital are the lead managers for its initial public offering (IPO).
Private equity fund Warburg Pincus (WP) holds 30.62% stake in the company. The marquee investor increased its stake in the company by $4, ahead of the IPO.
- Home First Finance Company is a technology-driven, affordable housing finance company, providing home loans to customers from low and middle-income groups.
- The RHP indicated that the company’s gross loan assets have grown at a compound annual growth rate (CAGR) of 63.4% to ₹3730 crore, between the fiscal year 2018-2020.
- According to CRISIL Research by FY23, the affordable housing outstanding credit will increase at approximately 9% to 10% CAGR to ₹1190000 crore.
- The grey market premium suggests an upside of $4 for the price band set at ₹517-₹ 518 per share.
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