India Shelter Finance Corporation Limited, a retail focused affordable housing finance company with an extensive distribution network comprising 203 branches as of September 30, 2023 and a scalable technology infrastructure across business operations and throughout the loan life cycle, will open its Bid / Offer in relation to its initial public offer of Equity Shares on Wednesday, December 13, 2023.
The total offer size of Equity Shares of face value Rs 5 each aggregating up to Rs 1200 crore comprises fresh issue aggregating up to Rs 800 crore and Offer for Sale aggregating up to Rs 400 crore by Selling Shareholders. The Price Band of the Offer has been fixed at Rs 469 to Rs 493 Per Equity Share. Bids can be made for a minimum of 30 Equity Shares and in multiples of 30 Equity Shares thereafter.
The Anchor Investor Bidding Date shall be Tuesday, December 12, 2023. The Bid/Offer will open on Wednesday, December 13, 2023 for subscription and will close on Friday, December 15, 2023. The Company proposes to utilise net proceeds from fresh issue of Equity Shares to meet future capital requirements towards lending estimated to Rs 640 crore and balance amount towards general corporate purpose.
Equity Shares are proposed to be listed on the BSE and the NSE. ICICI Securities Limited, Citigroup Global Markets India Private Limited, Kotak Mahindra Capital Company Limited and Ambit Private Limited are the Book Running Lead Managers to the offer.
India Shelter Finance Corporation is a retail-focused, affordable housing finance company. Primarily serving the self-employed in low and middle-income groups, especially first-time home loan takers in Tier II and Tier III cities, the company offers affordable housing loans. The company has an extensive and well-established network of 203 branches spread across 15 states with a significant presence in many states.
