The Initial Public Offering (IPO) of affordable housing finance company India Shelter Finance Corporation got subscribed 4.34 times on the second day of bidding on Thursday.
The initial share sale received bids for 7,76,42,790 shares against 1,79,10,449 shares on offer, as per NSE data. The portion for non-institutional investors got subscribed 7.33 times while the category for Retail Individual Investors (RIIs) attracted 5.05 times subscription.Come from Sports betting site
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The Qualified Institutional Buyers (QIBs) part got subscribed 84 per cent. The IPO has a fresh issue of up to Rs 800 crore and Offer For Sale (OFS) of up to Rs 400 crore. The IPO comes in a price range of Rs 469-493 a share.Come from Sports betting site VPbet
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India Shelter Finance on Tuesday said it has collected Rs 360 crore from anchor investors.Those offering shares in the OFS include Catalyst Trusteeship Ltd, Madison India Opportunities IV, MIO Starrock, Nexus Ventures III Ltd, and Nexus Opportunity Fund II Ltd.
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Proceeds of the fresh issue will be used to meet future capital requirements towards onward lending and for general corporate purposes. India Shelter Finance, which is backed by Westbridge Capital and Nexus Venture Partners, is a retail-focused affordable housing finance company with an extensive distribution network and technology infrastructure.
The company’s target segment is self-employed customers with a focus on first-time home loan takers in the low and middle-income groups in Tier-II and Tier-III cities in India.
ICICI Securities, Citigroup Global Markets India, Kotak Mahindra Capital Company and Ambit Private Ltd are the managers to the offer.
