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Business News/ Markets / Ipo/  India Shelter Finance IPO: GMP, price, subscription status, review, other details. Should you apply?
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India Shelter Finance IPO: GMP, price, subscription status, review, other details. Should you apply?

India Shelter Finance IPO GMP: Shares of the financial company are available at a premium of ₹152 in grey market today, say market observers

India Shelter Finance IPO size: Housing Finance company aims to raise ₹1200 crore from this public issue. (Photo: Courtesy company website)Premium
India Shelter Finance IPO size: Housing Finance company aims to raise 1200 crore from this public issue. (Photo: Courtesy company website)

India Shelter Finance IPO: The initial public offering (IPO) of India Shelter Finance Corporation Ltd has opened today and it will remain open for bidding till 15th December 2023. Promoters of the company, which was previously known as Satyaprakash Housing Finance India Limited, has fixed India Shelter Finance IPO price band at 469 to 493 per equity share. The book build issue is proposed for listing on BSE and NSE. 

According to market observers, shares of India Shelter Finance Corporation Ltd are available at a premium of 152 in grey market today.

India Shelter Finance IPO subscription status

By 11:45 AM on day one of bidding, the public issue has been subscribed 0.38 times whereas its retail portion has been subscribed 0.63 times. The NII portion of the book build issue has been subscribed 0.29 times.

Important India Shelter Finance IPO details

1] India Shelter Finance IPO GMP today: Shares of India Shelter Finance Corporation Ltd are available at a premium of 152 in grey market today, say market observers.

2] India Shelter Finance IPO price: Company has fixed India Shelter Finance IPO price band at 469 to 493 per equity share.

3] India Shelter Finance IPO date: The book build issue has opened today and it will remain open till 15th December 2023.

4] India Shelter Finance IPO size: The financial company aims to raise 1,200 crore from its public offer.

Also Read: DOMS IPO opens today. GMP, date, review, other details. Apply or not?

5] India Shelter Finance IPO lot size: A bidder will be able to apply in lots and one lot of the public issue comprises 30 shares of the company.

6] India Shelter Finance IPO allotment date: After T+3 listing becoming mandatory from 1st December 2023, the book build issue may finalise share allocation on Monday next week, i.e on 18th December 2023.

7] India Shelter Finance IPO registrar: KFin Technologies Limited has been appointed as officla registrar of the company.

8] India Shelter Finance IPO listing: The public issue is proposed for listing on BSE and NSE.

9] India Shelter Finance IPO listing date: The initial issue may list on 20th December 2023.

India Shelter Finance IPO: Should you apply?

10] India Shelter Finance IPO review: Giving 'subscribe' tag to the public issue, Amit Goel, Co-founder & Chief Global Strategist at Pace 360 said, "India Shelter Finance Corporation Limited, previously known as Satyaprakash Housing Finance India Limited, is engaged in the business of housing finance was incorporated in 1998. Their target segment is the self-employed customer with a focus on first time home loan takers in the low- and middle-income group in Tier II and Tier III cities in India, and affordable housing loans, i.e., loans with ticket size lower than 2.5 million. The Total income grew at a CAGR of 35% over FY21 – FY23. The net profit margin as at FY23 stood at 39%. The gross NPA and net NPA stood at 1.13% and 0.85% respectively, which improved significantly from previous year."

Amit Goel went on to add that the company generated ROE and ROA of 13.4% and 4.1% for FY23. They have been able to maintain their average sanction loan to value on portfolio at 50.9% as of September 30, 2023.The average incremental cost of borrowings as of March 31, 2023, was 8.0%. The company presents an investment opportunity as both its top line & bottom-line has shown significant growth.

On suggestion to investors, Amit Goel said, "Considering all the factors, we recommend that investors can apply for the listing gains of around 35% with expected listing price of 650 to 680 per share."

Advising investors to apply for long term, Shreyansh Shah, Research Analyst at StoxBox said, "With interest rates near their peak, we expect borrowing costs to stabilize in 1QFY25 and the overall profitability of housing loans to be sustained on account of higher interest income. The issue seems to be attractively valued at a P/BV multiple of 2.5x and advise investors to subscribe to the issue from a long-term perspective."

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decision.

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
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Published: 13 Dec 2023, 07:59 AM IST
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