Home First Finance Company, one of the fastest growing affordable housing finance companies in India, has raised Rs 346.11 crore from anchor investors ahead of its initial public offer (IPO), that opens on January 21.
The company in its circular available on exchanges said IPO committee and selling shareholders in consultation with merchant bankers have finalised the allocation of 66,81,766 equity shares to anchor investors, at upper price band of Rs 518 per share.
The issue will close on January 25. The price band has been fixed at Rs 517-518 per share.
Marquee names amongst anchor investors included Nomura, Fidelity, Eastspring, CLSA, Morgan Stanley, Buena Vista, Grandeur Peak, Moon Capital, Goldman Sachs and BNP Paribas.
ICICI Prudential MF, Birla MF, Nippon MF, Sundaram MF, Motilal MF, IIFL Special Opportunities Fund, Aditya Birla Sun Life, Bharti AXA, Tata AIA Life and Edelweiss amongst the domestic institutions received shares of Home First.
Home First Finance Company aims to raise Rs 1,153.72 crore via public issue which comprises a fresh issue of Rs 265 crore and an offer for sale (OFS) worth Rs 888.71 crore by promoters True North Fund V LLP and Aether (Mauritius), investor Bessemer India Capital Holdings II Ltd, and two individual shareholders (PS Jayakumar and Manoj Viswanathan).
Home First Finance Company IPO: Here are 10 things you should know before the issue
Investors can bid for a minimum of 28 equity shares, translating to Rs 14,504 per lot, and in multiples of 28 shares thereafter.
The company will utilise the net fresh issue proceeds in FY22, towards augmenting its capital base to meet future capital requirements, arising out of the growth of business and assets.
The book running lead managers to the issue are Axis Capital, Credit Suisse Securities (India), ICICI Securities and Kotak Mahindra Capital Company.
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