IPO Alert! Home First Finance IPO opens today, here's all you need to know

Home First Finance is a young housing finance company blending tech and personalisation to serve its customers.

Jan 21, 2021 09:01 IST India Infoline News Service

Initial Public Offering, IPO
The third IPO of this year, is all set to hit the markets today. Home First Finance Company, catering to housing finance needs, is ready to roll out its Rs1,153cr initial public offering today. Backed by Warburg Pincus, the IPO will be live till January 25, 2021.

The Mumbai based company's shares will be available for bidding in lots of minimum 28 shares each, at a price band of Rs517-518 apiece. 

The Rs1,153cr public issue comprises of a fresh issue of Rs265cr while the offer for sale (OFS) is worth Rs888.71cr by company's promoters True North Fund V LLP, Aether (Mauritius), and investor Bessemer India Capital Holdings II Ltd, and company's two individual shareholders, P S Jayakumar and Manoj Vishwanathan.

The company says it intends to utilise the proceeds from the fresh issuance in FY22 towards augmenting its capital base to meet future capital requirements arising out of the growth of business and assets.

While the reservation for qualified institutional buyers is 50% of the issue, 15% is reserved for non-institutional buyers and the remaining 35% for retail investors.

Home First's shares are expected to get listed on February 3 on NSE and BSE both.

The company mopped up over RS346cr from its anchor investors ahead of the IPO going live.

Axis Capital Ltd, Credit Suisse Securities (India), ICICI Securities Ltd, Kotak Mahindra Capital Company Ltd have been appointed as the book running lead managers to the issue.

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