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India Shelter Finance IPO: Empowering Dreams of Affordable Housing
Introduction:
India Shelter Finance Corporation Limited, a stalwart in the housing finance sector, recently marked its presence on the capital market with a Book Built IPO of Rs 1,200.00 crores. This blog takes you on a comprehensive journey through the vital details of the India Shelter Finance IPO, including its subscription success, financial standing, and the company's commitment to affordable housing.
Key Dates:
| Bidding Period | Allotment Date | Listing Date |
|---|---|---|
| December 13 to December 15, 2023 | December 18, 2023 | December 20, 2023 |
IPO Highlights:
| Issue Size | Fresh Issue | Offer for Sale | Price Band | Lot Size | Minimum Investment |
|---|---|---|---|---|---|
| ₹1,200.00 Crores | 16,227,181 shares (Rs 800.00 Crores) | 8,113,590 shares (Rs 400.00 Crores) | Rs 469 to Rs 493 per share | 30 Shares | Rs 14,790 for retail investors |
Financial Overview:
| Total Issue Size | Shareholding Pre-Issue | Shareholding Post-Issue |
|---|---|---|
| 24,340,771 shares, aggregating up to Rs 1,200.00 Crores | 90,823,956 shares | 107,051,137 shares |
Shareholding Structure:
| Pre-Issue Shares | Post-Issue Shares |
|---|---|
| 56.75% | 48.17% |
IPO Management:
| Lead Manager | Registrar |
|---|---|
| ICICI Securities Limited, Citigroup Global Markets India Private Limited, Kotak Mahindra Capital Company Limited, and Ambit Private Limited. | Kfin Technologies Limited |
Subscription Highlights:
The India Shelter Finance IPO witnessed a robust subscription of 38.59 times, showcasing strong interest from investors. Retail investors, along with Non-Institutional Investors (NII) and Qualified Institutional Buyers (QIB), participated actively in the subscription process.
IPO Journey Timeline:
| IPO Open Date | IPO Close Date | Basis of Allotment | Refunds Initiation | Shares Credited to Demat | Listing Date |
|---|---|---|---|---|---|
| December 13, 2023 | December 15, 2023 | December 18, 2023 | December 19, 2023 | December 19, 2023 | December 20, 2023 |
Market Maker Segment:
| Prabhat Financial Services | 193,000 shares |
|---|
Lot Size Details:
Investors had the flexibility to bid for a minimum of 30 shares, with the following investment parameters for retail investors and High Net Worth Individuals (HNIs):
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 30 | Rs 14,790 |
| Retail (Max) | 13 | 390 | Rs 192,270 |
| S-HNI (Min) | 14 | 420 | Rs 207,060 |
| S-HNI (Max) | 67 | 2,010 | Rs 990,930 |
| B-HNI (Min) | 68 | 2,040 | Rs 1,005,720 |
India Shelter Finance IPO Reservation:
The IPO featured a reservation of 24,340,769 shares, strategically allocated to different investor categories, including Anchor Investors, Retail Individual Investors (RII), Non-Institutional Investors (NII), and Qualified Institutional Buyers (QIB).
About India Shelter Finance Corporation Limited:
Founded in 1998, India Shelter Finance Corporation Limited has emerged as a prominent player in the affordable housing finance sector. The company, previously known as Satyaprakash Housing Finance India Limited, provides financial solutions for house construction, extension, renovation, and the purchase of new homes or plots. Additionally, it offers loans against property (LAP).
Key Financial Indicators:
As of September 30, 2023, India Shelter Finance showcased robust financial figures:
| Metric | Values |
|---|---|
| Assets | Rs 4,758.68 Crores |
| Revenue | Rs 398.58 Crores |
| Profit After Tax | Rs 107.35 Crores |
| Net Worth | Rs 1,374.97 Crores |
| Reserves and Surplus | Rs 1,335.36 Crores |
Key Performance Indicators:
- - Market Capitalization: Rs 5,277.62 Crores
- - Return on Equity (ROE): 13.4%
- - Return on Capital Employed (ROCE): 18.58%
- - Debt/Equity: 2.12
- - Return on Net Worth (RoNW): 13.4%
Objects of the Issue:
The Net Proceeds from the IPO will be utilized for:
- - Meeting future capital requirements towards onward lending.
- - General Corporate Purposes.
Conclusion:
India Shelter Finance Corporation Limited, with its commitment to affordable housing and steady financial growth, has emerged as a significant player in the housing finance sector. The IPO's strong subscription highlights investors' confidence in the company's mission and financial stability. As India Shelter Finance continues to facilitate the dreams of owning homes, investors may consider this opportunity for medium to long-term rewards in the growing affordable housing market.
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