India Shelter Finance IPO: Check latest GMP, other issue details ahead of opening

India Shelter Finance Corporation Ltd IPO : India Shelter Finance IPO is scheduled to open on Wednesday, December 13, and close on Friday, December 15. The details on allocation to anchor investors for India Shelter Finance IPO will be out Tuesday, December 12. India Shelter IPO price band has been fixed in the range of ₹469 to ₹493 per equity share of face value of ₹5.

The floor price is 93.80 times the face value of the equity shares and the cap price is 98.60 times the face value of the equity shares. The price to earnings ratio based diluted EPS for fiscal 2023 at the floor price is 26.85 times and at the cap price is 28.22 times. Bids can be made for a minimum of 30 equity shares and in multiples of 30 equity shares thereafter. 

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 India Shelter Finance Corporation Limited deals with housing finance. Lending for new home construction, remodelling, additions, and land acquisition is what the company offers. Additionally, loans against property (LAP) are provided by the company.

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Let's check what does India Shelter Finance IPO GMP today signal ahead of opening for subscription;

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India Shelter Finance IPO GMP today

India Shelter Finance IPO GMP today or grey market premium is +190. This indicates India Shelter Finance share price were trading at a premium of ₹190 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of India Shelter Finance share price was indicated at ₹683 apiece, which is 38.54% higher than the IPO price of ₹493.

Based on last 5 sessions grey market activities, today IPO GMP trending upward and expects a strong listing. The lowest GMP is ₹0, while the highest GMP is ₹220, as per investorgain.com.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

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India Shelter Finance Corporation Ltd IPO details

India Shelter Finance IPO consists of a fresh issue of shares of up to ₹800 crore and an offer for sale (OFS) of equity shares with face value of ₹5 each by a promoter and others aggregating up to ₹400 crore.

The net proceeds from the issue will be used by the company for general corporate purposes and to fund the following initiatives in order to meet future capital requirements for further lending.

The book running lead managers of the India Shelter Finance IPO are ICICI Securities Limited, Citigroup Global Markets India Private Limited, Kotak Mahindra Capital Company Limited, and Ambit Private Limited. The registrar of the offering is Kfin Technologies Limited.

India Shelter Finance IPO has reserved not more than 50% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 15% for Non Institutional Investors (NII), and not less than 35% of the offer is reserved for Retail Investors.

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