India Shelter Finance IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Dec 20, 2023Let’s have a detailed review of the company and analytics of the India Shelter Finance IPO release date, IPO offer price, subscription, India Shelter Finance Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 5 |
| Price Band | Rs 469 to Rs 493 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 30 Shares |
| Listing Date | December 20, 2023 |
| Offer for Sale | Rs 400.00 Cr. |
| Fresh Issue | Rs 800.00 Cr. |
| IPO Size | Rs 1,200.00 Cr. |
| Tick Size | 1 |
India Shelter Finance IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
| Live Performance – India Shelter Finance Share Price |
India Shelter Finance IPO – Summary
They are a retail-focused affordable housing finance company with an extensive distribution network comprising 203 branches as of September 30, 2023, and a scalable technology infrastructure across its business operations and throughout the loan life cycle.
Between Financial Year 2021 and Financial Year 2023, they witnessed a two-year CAGR growth of 40.8% in terms of assets under management (“AUM”). Their target segment is the self-employed customer with a focus on first-time home loan takers in the low and middle-income group in Tier II and Tier III cities in India and affordable housing loans.
The Promoter of this company is ANIL MEHTA, WESTBRIDGE CROSSOVER FUND, LLC AND ARAVALI INVESTMENT HOLDINGS. The lead manager of the issue is ICICI Securities Limited, Citigroup Global Markets India Private Limited, Kotak Mahindra Capital Company Limited and Ambit Private Limited, and the Registrar of this issue is KFin Technologies Limited.
Check out Related IPO Links:
| India Shelter Finance IPO GMP |
| Allotment – India Shelter Finance IPO |
| LIVE Subscription – India Shelter Finance IPO |
India Shelter Finance IPO Date
The opening and closing dates of the India Shelter Finance IPO are December 13, 2023, and December 15, 2023, respectively.
India Shelter Finance IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – 13th Dec | 0.38x | 4.42x | 2.53x | 2.34x |
| 2nd Day – 14th Dec | 0.88x | 7.76x | 5.41x | 4.62x |
| 3rd Day – 15th Dec | 94.29x | 29.97x | 10.46x | 38.59x |
| Shares Offered or Net Issue | 4,868,154 | 3,651,116 | 8,519,270 | 24,340,769 |
The shares subscribed by the public will be updated here.
India Shelter Finance IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
India Shelter Finance Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | December 18, 2023 |
| Refunds Initiation | December 19, 2023 |
| Credit of Shares to Demat Account | December 19, 2023 |
| Share Listing Date | December 20, 2023 |
India Shelter Finance IPO Price Band
The face value of each share is Rs.5, but the price band of the IPO is Rs 469 to Rs 493
India Shelter Finance IPO Equity Size
This Initial Public Issue of 24,340,771 Equity Shares of Rs.5 each for cash at a price of Rs 469 to Rs 493 per equity share aggregating to Rs.1,200.00 Cr.
India Shelter Finance IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 24,340,771 Equity Shares of Rs.5/ each.
Issue Size: 16,227,181 Equity Shares of Rs.5 each, aggregating to Rs.1,200.00 Cr.
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India Shelter Finance IPO – Live Performance
The listing date of this IPO is December 20, 2023. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – India Shelter Finance Share Price |
India Shelter Finance IPO Grey Market Premium
The India Shelter Finance Limited IPO Grey Market Premium price is Rs 165, the Kostak rate is Rs 400 and the Subject to Sauda is Rs 3500.
India Shelter Finance IPO – Company Overview
They have an extensive and well-established network of 203 branches spread across 15 states with a significant presence in the states of Rajasthan, Maharashtra, Madhya Pradesh, Karnataka and Gujarat wherein their branch vintage is five years and above, as of September 30, 2023.
Also, they have a presence in states which cover 94% of the affordable housing finance market in India, as of March 31, 2023. They have increased the scale of their operations and grown their branches by adopting a strategy of deepening their penetration in regions with a substantial demand for affordable housing finance. Their vintage in these states has facilitated a better understanding of the location-specific intricacies of affordable housing finance.
This experience has empowered us with insights into local businesses and property by-laws, enabling them to make better underwriting decisions based on accurate assessments of cash flows and collateral
India Shelter Finance IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Million) | |||||
| 30-Sep-23 | 30-Sep-22 | Mar-23 | Mar-22 | 31-Mar-21 | |
| Total Assets |
47,586.78
|
37,499.93
|
42,955.91
|
32,212.21
|
24,626.40
|
| *Total Revenue |
3,859.91
|
2,646.51
|
5,845.30
|
4,479.78
|
3,167.07
|
| Total Expense |
2,602.19
|
1,917.11
|
4,042.79
|
2,929.05
|
2,098.42
|
| Profit After Tax |
1,073.54
|
620.21
|
1,553.42
|
1,284.47
|
873.89
|
Earnings per Equity Share (in Million)
| 30-Sep-23 | 30-Sep-22 | Mar-23 | Mar-22 | 31-Mar-21 | |
| Basic & Diluted |
12.13
|
7.09
|
17.75
|
14.80
|
10.19
|
Further, their PAT for the period ended on March 31, 2023, March 31, 2022, and March 31, 2021, were Rs. 1,553.42 Million, Rs. 1,284.47 Million and Rs. 873.89 Million respectively.
India Shelter Finance IPO – Promoters
The Promoter of this company is:
- ANIL MEHTA,
- WESTBRIDGE CROSSOVER FUND,
- LLC AND ARAVALI INVESTMENT HOLDING
List of Related Parties (Key Managerial Personnel)
- Sudhin Bhagwandas Choksey, Chairman and Non-ExecutiveNominee Director
-
Rupinder Singh, Managing Director and Chief Executive Officer
-
Anup Kumar Gupta, Non-ExecutiveNominee Director
-
Shailesh J. Mehta, Non-ExecutiveNominee Director
India Shelter Finance IPO – Promoters Holding
- Pre-Issue Share Holding – 56.75%
- Post-Issue Share Holding – 48.17%
India Shelter Finance IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to X Equity Shares aggregating up to Rs.12,000 Million |
| of which: | |
| Issue Reserved for the Market Makers | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Net Issue to the Public | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Of which: | |
| Retail Investors Portion | Not less than [●] Equity Shares |
| Other than Retail Individual Investors | Not more than [●] Equity Shares |
| Equity Shares outstanding prior to the Issue | 90,823,956 Equity Shares |
| Equity Shares outstanding after the Issue | X Equity Shares |
India Shelter Finance IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
-
To meet future capital requirements towards onward lending; and
-
For general corporate purposes.
India Shelter Finance IPO – Business Strategy
- Further, Grow and Diversify their Distribution Network to Achieve Deeper Penetration
- Leverage their Technology Stack to Achieve Scalability, Improving Efficiency and Productivity
-
Diversify Borrowing Profile and Optimize Borrowing Costs
-
Enhance Brand Equity and Foster Sustainability
India Shelter Finance IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
-
One of the fastest growing assets under management among housing finance companies in India, high yields, and granular, retail-focused portfolio
-
Extensive and diversified Phygital distribution network with a significant presence in Tier II and Tier III cities
-
In-house origination model to ensure efficient and seamless operations across various key functions;
-
Technology and analytics-driven company with a scalable operating model
-
Robust underwriting, collection and risk management systems
-
Diversified financing profile with a demonstrated track record of reducing financing costs; and
-
Experienced management team supported by qualified and experienced personnel.
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-23 |
17.75
|
13.4
|
141.38
|
| 31-Mar-22 |
14.80
|
12.8
|
– |
| Mar-21 |
10.19
|
9.8
|
– |
India Shelter Finance IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Millions) | |
| India Shelter Finance Limited | 5 | [●] |
17.75
|
13.4
|
5,845.30
|
| Listed Peers | |||||
| Aptus Value Housing Finance India Limited | 2 |
29.9x
|
10.11
|
16.1
|
10,933.57
|
| Avas Financiers Limited | 10 |
27.4x
|
54.38
|
14.1 |
16,087.64
|
| Home First Finance Company India Limited | 2 |
37.7x
|
26.01
|
13.5 |
7,909.85
|
India Shelter Finance IPO Lead Managers
| Lead Managers |
| ICICI Securities Limited, Citigroup Global Markets India Private Limited, Kotak Mahindra Capital Company Limited Ambit Private Limited |
India Shelter Finance IPO Registrar to offer
| Registrar to the Offer |
| KFin Technologies Limited Selenium Tower B, Plot No.31-32 Gachibowli, Financial District Nanakramguda, Serilingampally Hyderabad 500 032, Telangana, India Tel:+91 40 6716 2222/ 1800 309 4001 Email:indiashelter.ipo@kfintech.com Website:www.kfintech.com Investor grievance e-mail:einward.ris@kfintech.com Contact Person: M Murali Krishna SEBI Registration No.:INR000000221 |
India Shelter Finance IPO – Other Details
- Statutory Auditor – T R Chadha & Co. LLP, Chartered Accountants
- Legal Counsel to the Company – Shardul Amarchand Mangaldas & Co
- Bankers to the Company – HDFC BankLimited and The Federal Bank Limited
India Shelter Finance IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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India Shelter Finance Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
India Shelter Finance IPO Review FAQs
Check out various FAQs related to India Shelter Finance IPO:
What is the Issue Size of India Shelter IPO?
The Company is making an initial public offer of 24,340,771 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of India Shelter IPO?
The price band for this particular IPO ranges between Rs 469 to Rs 493. As far as the face value of the share is concerned, it is Rs. 5 per share.
What is the India Shelter IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on December 20, 2023, while the closing date is set at December 20, 2023.
What is the India Shelter IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on December 20, 2023, refund initiation is on December 20, 2023, credit of shares is on December 20, 2023, and share listing date is on December 20, 2023.
What is the India Shelter Finance IPO Listing Date?
Shares of this company shall be listed in the exchanges on December 20, 2023. The date, when the listing would be done, is stagnant on December 20, 2023.
Who is the Registrar of India Shelter IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. KFin Technologies Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of India Shelter IPO?
Here are the promoters of this IPO – ANIL MEHTA, WESTBRIDGE CROSSOVER FUND, LLC AND ARAVALI INVESTMENT HOLDING. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of India Shelter IPO?
They have obtained the GMP of this IPO and it is Rs 165. Further insights into the Kostak rate and subject to sauda or SS are as well included in this report.
Is India Shelter Finance IPO Good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of India Shelter Finance Company?
They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2023 in Million is 1,553.42, 2022 is 1,284.47, and 2021 is 873.89. PAT from Sep 2023 is 1,073.54.
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