India Shelter Finance Corporation Ltd, formerly known as Satyaprakash Housing Finance India Limited, has officially launched its initial public offering (IPO) today, marking a significant milestone in the company’s journey. The IPO bidding window will remain open until December 15, 2023, offering investors a chance to be part of this housing finance venture. Click here to subscribe the IPO.
Key IPO Details:
Subscription Progress:
As of 11:45 AM, the IPO has garnered a subscription rate of 0.37 times. Notably, retail investors have shown substantial interest, contributing to 62% of the allocated portion, while non-institutional investors have bid for 29%. The Qualified Institutional Buyers (QIB) category is yet to subscribe.
Offer Structure:
The Rs 1,200 crore public offer comprises a fresh issue of 1.62 crore shares valued at Rs 800 crore and an offer-for-sale (OFS) of 81.13 lakh shares worth Rs 400 crore. Catalyst Trusteeship, acting as the trustee of Madison India Opportunities Trust Fund, and Nexus Ventures III are the major selling shareholders in the OFS, divesting Rs 171.3 crore and Rs 142.5 crore worth of shares, respectively.
India Shelter Finance Corporation Ltd, a prominent player in the housing finance sector, is set to leverage this IPO to fuel its growth and expand its presence in the market.
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