The IPO consists of a fresh issue aggregating up to Rs400cr and an offer for sale of up to Rs1,100cr by the selling shareholders. The equity shares, of face value Rs2 each, will be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange) BSE.
True North Fund V LLP, Aether (Mauritius) Limited, Bessemer India Capital Holdings II Ltd, P S Jayakumar, Manoj Vishwanathan and Bhaskar Chaudhry are the promoter and investor selling shareholders
Further, the DRHP states that the company may consider a pre-IPO placement of up to Rs160cr in consultation with the Book Running Lead Managers (BRLMs). If the pre-IPO placement is undertaken, the amount will be reduced from the fresh issue.
The company intends to utilize the net proceeds towards augmenting its capital base to meet its future capital requirements, arising out of the growth of its business and assets and to receive the benefits of listing of the equity shares on the stock exchanges.
Axis Capital Limited, Credit Suisse Securities (India) Private Limited, ICICI Securities Limited and Kotak Mahindra Capital Company Limited have been appointed as the Book Running Lead Managers (BRLMs) for the share sale.
HomeFirst has been the first port of call for over 30,000 customers, most of them falling under PMAY, across urbanized regions of Gujarat, Maharashtra, Karnataka and Tamil Nadu which accounts for 79% of the affordable housing market. The company’s loans have an average ticket size of Rs10.4 lakh mainly accounting for purchase and construction of homes.