India Shelter Finance to launch Rs 1,200 crore IPO on December 13
New Delhi: Affordable housing finance company India Shelter Finance on Friday set a price range of Rs 469-493 per share for its Rs 1,200 crore initial public offering (IPO).
According to a public announcement, the first public issue will open for subscription from December 13-15 and the anchor book will be open for one-day bidding on December 12.
The IPO comprises a fresh issue of equity shares worth Rs 800 crore and an offer for sale (OFS) worth Rs 400 crore by investor shareholders.
Those offering shares in the OFS include Catalyst Trusteeship Ltd, Madison India Opportunities IV, MIO Starrock, Nexus Ventures III Ltd and Nexus Opportunities Fund II Ltd.
The proceeds from the fresh issue will be used to fund further lending and to meet future capital requirements for general corporate purposes.
Half of the issue size has been reserved for qualified institutional buyers (QIBs), 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors. Investors can bid for a minimum of 30 equity shares and in multiples of 30 equity shares thereafter.
India Shelter Finance, backed by Westbridge Capital and Nexus Venture Partners, is a retail-focused affordable housing finance company with a wide distribution network and technology infrastructure.
The company’s target segment is self-employed customers, with a focus on first-time home loan borrowers in the low and middle income groups in Tier II and Tier III cities in India.
ICICI Securities, Citigroup Global Markets India, Kotak Mahindra Capital Company and Ambit are the book-running lead managers to manage the IPO.
