Home First Finance Company IPO to open this week. Details here1 min read . Updated: 19 Jan 2021, 04:38 PM IST
- The IPO would be open for subscription on January 21 and close on January 25
The IPO of mortgage financier Home First Finance Company (HFFC) opens for public subscription on January 21 and closes on January 25. The company has fixed a price band of ₹517-518 a share for its initial share-sale. Home First Finance IPO will be the third IPO this year after Indian Railway Finance Corporation (IRFC) which is currently open for public subscription, and Indigo Paints, which would be launched on January 20.
Here are 10 things to know about Home First Finance IPO:
1) The IPO of Home First Finance comprises a fresh issue of up to ₹265 crore and an offer-for-sale aggregating up to ₹888.71 crore by promoters and existing shareholders.
2) The share allocation in Home First Finance is likely to be finalised on January 29 while listing is likely on February 3
3) HFFC intends to utilise the net proceeds towards augmenting its capital base to meet its future capital requirements.
4) KFIN Technologies Private Limited is the registrar of Home First Finance IPO. It will manage share allocation and refund.
5) Axis Capital, Credit Suisse Securities (India) Pvt Ltd, ICICI Securities and Kotak Mahindra Capital Company will manage the share sale.
6) The offer-for-sale consists of shares worth ₹435.61 crore by promoter True North Fund V LLP, ₹291.28 crore shares by promoter Aether (Mauritius) Ltd, ₹120.46 crore by investor Bessemer India Capital Holdings II Ltd and up to ₹41.3 crore by two individual shareholders -- PS Jayakumar and Manoj Viswanathan.
7) Half of the issue is reserved for qualified institutional buyers, 35% for retail investors and 15% for non-institutional buyers.
8) Home First Finance was incorporated in 2010. HFFC provides home loans to customers from low- and middle-income segments, who are building or buying their first homes
9) In October 2020, US based private equity firm Warburg Pincus had announced an investment of ₹700 crore into Home First Finance.
9) As of March 31, 2020, Home First had an assets under management of ₹3,618 crore with gross non-performing assets of 0.87%.
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