The year 2021 has started off on a big note, with a host of companies looking to raise funds through IPOs. As many as three companies are currently in the upcoming IPO lineup. One among them is the Home First Finance Company India Ltd. If you’re interested in getting to know more about this new IPO, here’s an in-depth look at the Home First Finance Company India Ltd IPO details.
About the company
Home First Finance Company India Ltd (HFFCI) started off its operations in the year 2010, with Bengaluru as the base for their operations. The company is in the business of providing housing finance, specifically catering to the affordable housing segment.
The primary customer base of the company belongs to the middle to low income category. In addition to providing loans for purchase and construction of residential property, the company is also in the business of providing developer finance loans, loans against property, and even loans for purchasing commercial property.
HFFCI enjoys an effective network that comprises almost 65 branches spread across 60 districts including those in major states like Maharashtra, Tamil Nadu, Karnataka, and Gujarat. Over the years, the company has experienced tremendous growth with its net profit soaring from 45.2 crores in FY 19 to 79.2 crores in FY 20.
Home First Finance Company India Ltd IPO details
Now you’re aware of the company, let’s take a look at a few of the most important details of this upcoming IPO from Home First Finance Company India Ltd including the Home First Finance Company India Ltd IPO date and the Home First Finance Company India Ltd IPO share price band.
Home First Finance Company India Ltd IPO date
According to the red herring prospectus filed by the company, this latest upcoming IPO 2023 will open up for subscription on January 21, 2021 and will come to a close on January 25, 2021.
Home First Finance Company India Ltd IPO issue size
The new IPO from Home First Finance Company India Ltd has a total issue size of Rs. 1,153.72 crores. This includes fresh issue of shares to the tune of Rs. 265 crores and an Offer for Sale (OFS) from the promoters of the company to the tune of Rs. 888.72 crores.
Home First Finance Company India Ltd IPO share price band
The company has set the upcoming IPO price band within a range of Rs. 517 to Rs. 518 per share. Considering the fact that the face value of the equity shares of HFFCI is just Rs. 2 per share, the remaining amount of Rs. 515 to Rs. 516 would go towards the share premium.
Home First Finance Company India Ltd IPO listing
Home First Finance Company India Ltd has decided to list its shares on both the Bombay Stock Exchange (BSE) as well as the National Stock Exchange (NSE).
Home First Finance Company India Ltd IPO objectives
The company has clearly stated that the net proceeds from its IPO would be used to meet any future capital expenditure that the company may have and to meet its minimum capital adequacy norms.
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