Latest News | India Shelter Finance IPO Subscribed 36.62 Times on Last Day of Offer
Get latest articles and stories on Latest News at LatestLY. The initial public offer of affordable housing finance company India Shelter Finance Corporation received 36.62 times subscription on the last day of offer on Friday.
New Delhi, Dec 15 (PTI) The initial public offer of affordable housing finance company India Shelter Finance Corporation received 36.62 times subscription on the last day of offer on Friday.
The initial share sale got bids for 65,59,44,390 shares against 1,79,10,449 shares on offer, as per NSE data.
The quota for Qualified Institutional Buyers (QIBs) received 89.70 times subscription while the portion for non-institutional investors attracted 28.47 times subscription. The Retail Individual Investors (RIIs) part was subscribed 9.79 times.
The Initial Public Offer (IPO) had a fresh issue of up to Rs 800 crore and an Offer for Sale (OFS) of up to Rs 400 crore.
The IPO had a price range of Rs 469-493 a share.
On Tuesday, India Shelter Finance said it has collected Rs 360 crore from anchor investors.
Those who offered shares in the OFS include Catalyst Trusteeship Ltd, Madison India Opportunities IV, MIO Starrock, Nexus Ventures III Ltd, and Nexus Opportunity Fund II Ltd.
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 were the managers to the offer.
(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)