The Initial Public Offering (IPO) of the India Shelter Finance Corporation (IFSC) Limited is set to open for subscription on 13th December 2023. The issue will remain open for 3 days and will close on 15th December 2023. According to the red-herring prospectus, the IPO comprises of a fresh issue of Rs 800 crore and an Offer-for-sale (OFS) of Rs 400 crore. It’s a mainline IPO that will be listed on the BSE and NSE on 20th December 2023.
Key details about India Shelter Finance Corporation Limited IPO
India Shelter Finance Corporation Limited is a affordable housing finance company that disburses small ticket home loans. The company has disbursed loans worth over Rs 5,500 crore till now through its network of 183 branches across 15 states in India. The company proposes to use the funds to meet future capital required towards its onwards lending and general corporate expenses.
Kfin Technologies is the IPO registrar for the India Shelter Finance Corporation Limited and will oversee the allotment process.
Dates:
- The IPO will be open for subscription between 13th December to 15th December 2023.
- The basis of allotment will be finalised on 16th December. The
- The initiation of refunds and credit of shares to the Demat accounts of successful bidders will take place on 19th December 2023.
- The company aims for 13th December listing on the primary markets.
Issue Details
- The company has set a price band of Rs 469 to Rs 493 per share at a face value of Rs 5 per share.
- The total IPO size is Rs 1,200 crore, comprising of fresh issue of 1.62 crore shares aggregating to Rs 800 score and on off-for-sale of 0.81 crore shares aggregating to Rs 400 crore.
Reservation & Lot size
- The lot size is 30 shares, making the investment per lot to Rs 14,790 when calculated at upper price band.
- Retail investors are allowed to make bids for 1-13 lots and NIIs can bid for 14-68 lots.
- As per the IPO reservation details, QIBs portion is capped at maximum 50% of the net offer, HNIs at minimum 15% and retail investors portion at minimum 35% of the net offer.
Company Financials
- Net revenue: Indian Shelter Finance Company Limited reported a net revenue of Rs 696.23 crore in FY23 vs Rs 459.81 crore in FY22. In FY24 H1, the company’s net revenue was reported at Rs 398.58 crore.
- PAT: The company posted a net profit of Rs 107.35 crore in FY24 H1. PAT in FY23 was Rs 155.34 crore against Rs 128.45 crore in FY22.
- By 30th September 2023, The company’s assets were reported at Rs 4,758.68 crore, total borrowing at Rs 3,272.48 crore, reserves & surplus at Rs 1,335.36 crore.
India Shelter Finance Corporation IPO opens on the same date as another mainline issue DOMS Industries. More than 15 IPOs are bound to open in next two months.
