Home >Markets >Ipo >Home First Finance IPO to launch on 21 Jan with price band of 517- 518

MUMBAI : Warbug Pincus backed mortgage lender Home First Finance Co. India Ltd on Tuesday announced plans to raise 1,153.71 crore in an initial public offering (IPO). The issue with a price band of 517-518 per equity share will open for subscription on 21 January and close on 25 January.

Apart from new shares, the IPO comprises the sale of existing shares by True North Fund V LLP and Aether (Mauritius) Ltd, Bessemer India Capital Holdings II Ltd, an existing investor and certain individual shareholders, according to a press statement. The company said it will use the net proceeds to augment its capital base.

In its pre-IPO placement, the company has raised 75 crore and 4.08 crore to Orange Clove Investments B.V (an affiliate of Warburg Pincus) and certain company employees respectively through preferential allotments.

Axis Capital Ltd, Credit Suisse Securities (India) Pvt. Ltd, ICICI Securities Ltd, and Kotak Mahindra Capital Co. Ltd are the book running lead managers to the offer.

Home First Finance is a technology-driven affordable housing lender. It offers housing loans for buying or constructing homes. Its gross loan assets have expanded at a compound annual growth rate of 63.4% between FY18 and FY20, as per company documents.

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