Home First Finance Company IPO Fully Subscribed On Day 2

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Home First Finance Company IPO Fully Subscribed On Day 2

Home First Finance Company's share sale via initial public offering (IPO) was oversubscribed on second day of the issue. Home First Finance Company's IPO was subscribed 1.31 times as of 12:00 pm, data from National Stock Exchange showed. Home First Finance Company received over 2 crore bids for its shares compared with 1.56 crore shares on offer. Portion reserved for qualified institutional buyers was subscribed 1.28 times and portion reserved for retail investors was subscribed 0.89 times.



Home First Finance Company is the third IPO 0f 2021 after the public offers by Indian Railway Finance Corporation (IRFC) and Indigo Paints. The shares of Home First Finance are likely to be listed on the BSE Sensex and NSE Nifty on February 3.

Home First Finance's ₹ 1,153.71-crore IPO comprises a fresh issue of ₹ 265 crore and an offer for sale of ₹ 888.72 crore by promoters and existing shareholders.

Investors can bid for a minimum one lot of 28 equity shares and in multiples up to 13 lots. The shares are being offered in the price band of ₹ 517-518 per share. A total of up to 50 per cent of the issue will be reserved for qualified institutional buyers (QIBs), 35 per cent for the retail category and 15 per cent for non-institutional group.

Founded in 2010, Home First Finance is an affordable housing finance company that provides home loans to customers in the low and middle-income segments. It operates in 60 districts across 11 states and a Union Territory and had a sizeable presence in Gujarat, Maharashtra, Karnataka and Tamil Nadu.

Axis Capital, Credit Suisse Securities (India), ICICI Securities and Kotak Mahindra Capital Company are the book running lead managers to Home First Finance's IPO. KFintech Private Limited is the registrar to the issue.

SOURCE - https://www.ndtv.com/business/home-first-finance-company-ipo-news-subscription-home-first-finance-company-ipo-fully-subscribed-on-day-2-2356393