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India Shelter Finance plans to raise up to Rs 1200 crore through an initial public offering. The subscription for the IPO will be open from December 13 to December 15, 2023. The price band is set at Rs 469 – Rs 493 per share.
The IPO consists of fresh issue of shares worth Rs 800 crore and offer for sale of equity shares worth Rs 400 crore. The face value is fixed at Rs 5 per share and the minimum lot size for an application is 30 shares.
Company Summary
Housing financing is the activity of India Shelter financing Corporation Limited, formerly known as Satyaprakash Housing Finance India Limited. The organization offers loans for new home construction, home additions, remodeling, and land purchases. Moreover, the business provides loans secured by property (LAP).
For a maximum 20-year term, the organization offers loans in the range of Rs. 5 lakhs to Rs. 50 lakhs. As of November 30, 2023, IndiaShelter has provided loans totaling more than Rs. 5500 crores, assisting families in purchasing, building, or renovating their houses.
The organization operates 203 branches throughout 15 states as of September 30, 2023, with a presence in Gujarat, Rajasthan, Maharashtra, Madhya Pradesh, and Karnataka. The business now has 115 branches, up from 115 as of March 31, 2021, to 130 as of March 31, 2022, and 203 as of September 30, 2023.
Company Strengths
- Experienced promoters supported by a professional senior management team.
- Healthy credit rating of ICRA A+ (stable) from ICRA Limited and CARE A+ (Positive) from CARE Limited
- Diversified lender base comprising over 37 counterparties, including 24 scheduled commercial banks
- Operates in 15 states with a network of 203 branches.
- AUM growth stood at 43.3% and has AUM worth Rs. 5180.69 cr.
Company Financials
Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
Assets | 4,758.68 | 4,295.59 | 3,221.22 | 2,462.64 |
Revenue | 398.58 | 606.23 | 459.81 | 322.80 |
Profit After Tax | 107.35 | 155.34 | 128.45 | 87.39 |
Net Worth | 1,374.97 | 1,240.53 | 1,076.13 | 937.27 |
Reserves and Surplus | 1,335.36 | 1,197.98 | 1,033.02 | 894.20 |
Total Borrowing | 3,272.48 | 2,973.43 | 2,059.40 | 1,480.72 |
Purpose of the IPO
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- To meet future capital requirements towards onward lending, and
- General corporate purposes.
Company Promoters
Anil Mehta, WestBridge Crossover Fund, LLC, and Aravali Investment Holdings are the company’s promoters.
IPO Details
IPO Date | December 13, 2023 to December 15, 2023 |
Face Value | ₹5 per share |
Price Band | ₹469 to ₹493 per share |
Lot Size | 30 Shares |
Total Issue Size | 24,340,771 shares (aggregating up to ₹1,200.00 Cr) |
Fresh Issue | 16,227,181 shares (aggregating up to ₹800.00 Cr) |
Offer for Sale | 8,113,590 shares of ₹5 (aggregating up to ₹400.00 Cr) |
Issue Type | Book Built Issue IPO |
Listing At | BSE, NSE |
IPO Lot Size
Application | Lots | Shares | Amount |
Retail (Minimum) | 1 | 30 | Rs 14,790 |
Retail (Maximum) | 13 | 390 | Rs 1,92,270 |
Small HNI (Minimum) | 14 | 420 | Rs 2,07,060 |
Small HNI (Maximum) | 67 | 2,010 | Rs 9,90,930 |
Large HNI (Minimum) | 68 | 2,040 | Rs 10,05,720 |
Allotment Details
Event | Date |
Allotment of Shares | December 18, 2023 |
Initiation of Refunds | December 19, 2023 |
credit of Shares to Demat Account | December 19, 2023 |
Listing Date | December 20, 2023 |
To check allotment, click here