India Shelter IPO Oversubscribed 7.6 times on Day 3 so far

15 Dec 2023 , 12:26 PM

The initial public offering (IPO) of India Shelter Finance Corporation Limited Ltd opened for subscription on December 13, 2023, and the subscription period will conclude on December 15, 2023. The financial company, with a public issue size of Rs 1,200 crore, has garnered strong interest from investors in the first two days of the subscription. Click here to subscribe the IPO.

India Shelter IPO’s price has been fixed in the range of Rs 469 to Rs 493 per equity share. By the end of the second day, the IPO was oversubscribed 4.36 times. On the third day, as of 12:20 PM, the issue received bids for 13,60,94,490 shares out of the total 1,79,10,449, representing an oversubscription of 7.60 times.

High net-worth individuals (HNIs) and retail investors played a significant role in supporting the offer, subscribing 15.24 times and 7.16 times, respectively, of the portions set aside for them. Qualified institutional buyers (QIBs) subscribed 2.62 times the shares reserved for them.

The IPO comprises a fresh issue of shares worth Rs 800 crore and an offer-for-sale (OFS) of shares worth Rs 400 crore by investors, including Catalyst Trusteeship Limited, Catalyst Trusteeship, Madison India Opportunities Trust Fund, Madison India Opportunities IV, MIO Starrock, and Nexus Ventures III. The Gurugram-based affordable housing finance company plans to utilize Rs 640 crore of the net fresh issue proceeds for future capital requirements towards onward lending, while the remaining funds will be kept for general corporate purposes.