The IPO of Home First Finance will also hit the market this week. The company has fixed the price range for the IPO at Rs 517-518 per share on Tuesday.
The IPO of Home First Finance will also hit the market this week. The company has fixed the price range for the IPO at Rs 517-518 per share on Tuesday. According to the company, the IPO will open on January 21. This is the third IPO this year.
The IPO of Indian Railway Company IRFC is currently open, while the IPO of Indigo Paints will open on January 20. According to the company, the IPO of Home First Finance is worth Rs 1,153.71 crore, which includes a fresh offer of Rs 265 crore and a sales offer of Rs 888.71 crore.
The IPO will open for bid on January 21 and will close on January 25. The share of anchor investors will open for bidding on 20 January. The Home First Finance Company (HFFC) will use the entire proceeds from the IPO to meet capital requirements.
Half of the IPO is reserved for qualified institutional buyers, 35 percent for retail investors and 15 percent for non-institutional buyers. The shares of the company will be listed on the National Stock Exchange (NSE) and BSE.
Company CEO Manoj Vishwanathan told that the company’s shareholding pattern is 90% private equity fund. Among them are the shareholding of True North Fund, Ather Mauritius, Besmer India, PS Jayakumar. Of these, 30% of True North is 20% of GIC of Singapore. Warburg Pinks will not sell its stake in it.
Home first finance is an affordable finance company. The company gives loans to first time home buyers. The ticket size of the loan is between 5 and 25 lakh rupees. The company has reach in more than 11 states. Housing demand will increase after Covid. People are coming from small cities to big ones. The company’s growth has been less than last year. But it will increase further..
