India Shelter Finance, BLS E-Services files DRHP to raise funds via IPO

7 Aug 2023 , 09:48 AM

Earlier known as Satyaprakash Housing Finance India (SHFIL), India Shelter Finance Limited and BLS E-Services Limited have filed DRHP to raise funds via IPO. 

Gurugram-based India Shelter Finance is looking to raise around Rs 1800 crore from the primary market. The issue comprises fresh equity shares worth Rs 1000 crore and an offer-for-sale of up to Rs 800 crore. As per DRHP, investors Catalyst Trusteeship, Madison India Opportunities IV, MIO Starrock, Nexus Ventures III, and Nexus Opportunity Fund II will offload their shares through OFS.

The newly raised funds will primarily be allocated to fulfill upcoming capital needs for onward lending and general corporate objectives. Conversely, the funds generated through the offer for sale will be directed to the shareholders who are selling their shares.

The company has designated ICICI Securities, Citigroup Global Markets India, Kotak Mahindra Capital Company, and Ambit as the book-running lead managers responsible for overseeing and managing the Initial Public Offering (IPO) process.

BLS E-Services IPO

BLS E-Services functions as a web-based platform that facilitates access to a diverse range of services offered by both the Government and Service partners. The company asserts its capability to offer comprehensive and seamless solutions for a variety of services accessible via this portal, covering the entire spectrum of user needs.

As per DRHP, the company wants to raise funds by issuing 2.41 crore fresh equity shares with no component for offer-for-sale. The company will use its net proceeds for strengthening technology infrastructure to develop new capabilities and consolidating existing platforms.

Unistone Capital has been exclusively appointed as the sole book-running lead manager for the upcoming issue. The company’s equity shares are set to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).