India Shelter Finance IPO to open on December 13. Here are 10 things to know about the offer

India Shelter Finance IPO to open on December 13. Here are 10 things to know about the offer

By

Akash Podishetti

, ETMarkets.comLast Updated: Dec 09, 2023, 03:23:27 PM IST

Synopsis

India Shelter Finance IPO comprises fresh equity issue worth Rs 800 crore along with an offer for sale (OFS) of 400 crore. The price band of this public issue is fixed at Rs 469-493, and at the upper end, the company plans to raise Rs 1200 crore. ICICI Securities, Citigroup Global Markets, Kotak Mahindra Capital Company and Ambit Pvt Ltd are the book running lead managers for the IPO.

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The initial public offering (IPO) of India Shelter Finance will open for subscription on December 13. The issue closes on December 15. The company’s shares are expected to get listed on both the exchanges. Here are 10 things to know about the offer.

What is the business overview of India Shelter Finance?
India Shelter Finance is a retail-focused affordable housing finance company with an extensive distribution network and a scalable technology infrastructure. The company offers home loans up to Rs 50 lakhs to urban households for construction, extension, renovation and purchase of new homes.What is the industry overview of India Shelter Finance?
The overall size of the affordable housing finance market in India in terms of loan outstanding was around Rs 11.5 lakh crore as of March 2023, constituting around 37% of the overall housing finance market. The Indian housing finance market recorded a CAGR of approximately 13.5% over the financial years 2019-2023 on account of a rise in disposable income.What is the size of India Shelter Finance IPO?
The IPO comprises fresh equity issue worth Rs 800 crore along with an offer for sale (OFS) of 400 crore.Who are the selling shareholders under OFS?
Under the OFS, investors selling shareholders Catalyst Trusteeship, Madison India, MIO Starrock and Nexus Ventures will offload shares.What is the price band for India Shelter Finance IPO?
The price band of this public issue is fixed at Rs 469-493, and at the upper end, the company plans to raise Rs 1200 crore.What is the structure of India Shelter Finance IPO?
About 50% of the offer is reserved for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors.How is the financial performance of India Shelter Finance?
The company has recorded 32% year-on-year growth in its total income at Rs 606 crore for the financial year ended March 2023. Profit for the same period rose 21% to Rs 155 crore.What are the objects of India Shelter Finance IPO?
Net proceeds from the fresh issue will be utilised towards augmenting Tier–I capital base to meet its future capital requirements, arising out of the growth of business and assets. A part of the proceeds will also be used for meeting offer expenses.What is the current GMP of India Shelter Finance?
According to market analysts, the current GMP of India Shelter Finance is Rs 0 in the unlisted market.Who are the book running lead managers for India Shelter Finance IPO?
ICICI Securities, Citigroup Global Markets, Kotak Mahindra Capital Company and Ambit Pvt Ltd are the book-running lead managers for the IPO.

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