Affordable housing finance company, India Shelter Finance, has announced its debut initial public offering (IPO) valued at Rs 1,200 crore. The IPO encompasses a fresh issuance of equity shares amounting to Rs 800 crore and an offer-for-sale (OFS) worth Rs 400 crore by investor shareholders. The subscription window for retail investors is scheduled from December 13 to 15, with the anchor book opening for bidding on December 12.
Price Band and Share Offering: India Shelter Finance has fixed the price band for the shares at Rs 469-493 each. The OFS involves shares offered by entities such as Catalyst Trusteeship Ltd, Madison India Opportunities IV, MIO Starrock, Nexus Ventures III Ltd, and Nexus Opportunity Fund II Ltd. The proceeds from the fresh issue will be allocated for future capital requirements and general corporate purposes, particularly towards onward lending.
Reserved Quotas and Bidding Information: Half of the IPO’s size is reserved for qualified institutional buyers (QIBs), 35% for retail investors, and the remaining 15% for non-institutional investors. Investors can bid for a minimum of 30 equity shares, with subsequent bids in multiples of 30 equity shares.
Company Profile and Backing: India Shelter Finance, supported by Westbridge Capital and Nexus Venture Partners, is a retail-centric affordable housing finance company targeting self-employed customers. The focus is on first-time home loan applicants within 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 appointed book-running lead managers overseeing the IPO.
