India Shelter Finance is into Financial Services Housing Finance and is looking raise funds through Fresh Issue and Offer for Sale
India Shelter Finance IPO: India Shelter Finance Corporation Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 5 per share via initial public offering.
Initial Public Offer comprising of a Fresh Issue aggregating up to Rs. 1,000 crores and an Offer for Sale up to Rs 800 crores. ICICI Securities, Citigroup Global Markets India, Kotak Mahindra Capital Company, Ambit have been appointed as lead merchant bankers for the proposed IPO. It has appointed KFin Technologies Ltd. as Registrar and Share transfer Agent. Company is yet to finalize issue size and some other important details relating to the IPO.
Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Fresh Issue aggregating Rs. 1,000 Crs andby Catalyst Trusteeship Limited(as trustee of MICP Trust, Catalyst Trusteeship Limited (as trustee of Madison India Opportunities Trust Fund), Madison India Opportunities IV, MIO Starrock, NexusVentures III,Ltd. and Nexus Opportunity Fund II, Ltd. who will offload Equity Shares up to Rs.4.9 crores, up to Rs. 294.5 crores, up to Rs. 78.4 crores, up to Rs137.2 crores, up to Rs220.56 crores and up to Rs64.4 crores respectively... Objects of the issue is To meet future capital requirements towards onward lending estimated at Rs800 crores, and General corporate purposes.
About Company:
India Shelter Finance Corporation, established in _ is retail focused affordable housing finance company. AUM during FY21-23 grew at a CAGR of 40.8%. Company's 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.
About Industry:
The housing finance sector of India comprises public sector banks, private sector banks, housing finance companies, non-banking financial companies and other players. The overall size of the affordable housing finance market in India in terms of loan outstanding was around ₹11.5 trillion as of March 2023, constituting around 37% of the overall housing finance market. TheIndian housing finance market recorded a CAGR of approximately 13.5% (growth in loan outstanding) over the financial years 2019-2023 on account of a rise in disposable income, healthy demand, and a greater number of players entering the segment.(Source:CRISIL Report)
Source: SEBI, BSE, NSE, DRHP, Company, Industry Data
Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.
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