The initial public offering (IPO) of Home First Finance opens today for membership on 21 January. The public issue will close on 25 January. This will be the third IPO in 2021 after public offers by the Indian Railway Finance Corporation (IRFC) and Indigo Paints. The shares of Home First Finance are likely to be listed on BSE Sensex and NSE Nifty on 3 February.
Meanwhile, Indigo Paints IPO opened on the previous day i.e. January 21 and subscribed 1.90 times on the first day of bidding.
Home First Finance’s Rs 1,153.71 crore IPO includes a fresh issue of Rs 265 crore and an offer for sale of Rs 888.72 crore by promoters and existing shareholders.
Investors can bid for a minimum of 13 lots out of 28 equity shares and up to multiples. Shares are being offered in the price band of Rs 517-518 per share. A total of 50 per cent of the issue will be reserved for qualified institutional buyers (QIB), 35 per cent for the retail category and 15 per cent for the non-institutional group.
Established in 2010, Home First Finance is an affordable housing finance company that offers home loans to customers in the lower and middle income groups. It operates in 60 districts in 11 states and union territories and had a large presence in Gujarat, Maharashtra, Karnataka and Tamil Nadu.
Axis Capital, Credit Suisse Securities (India), ICICI Securities and Kotak Mahindra Capital are the lead run managers in the IPO of the company Home First Finance. KFintech Private Limited is the registrar of the issue.