IPO News

Day 1 stats of Home First Finance IPO – Fully Subscribed, QIB portion booked 1.3 times

The affordable housing finance company issued its IPO on Thursday and initially received bids for Rs 1.24 lakh crore equity.

Home First Finance Company opened its IPO today, on January 21, 2021, and the issue will remain open till January 25, 2021.

The price band has been fixed at Rs 517 to Rs 518 for each share. The bids have crossed over the offer size of 1.56 crores shares as per the data records.

However, the issue size has been reduced to Rs 880 crore following the fund raising from anchor book.

Within the first day of IPO opening, the company received 1.28 times subscription of QIB portion.

Apart from QIB, the portion reserved for non-institutional investors had 12.7 percent subscription. Moreover on the retail investors portion, the portion had 1.29 times of subscription.

The IPO comprised of fresh issue of Rs 265 crore with an offer for sale of Rs 888.71 crore. The promoters of this issue were True North Fund V LLP and Aether (Mauritius).

Bessemer India Capital Holdings II Ltd and two individual shareholders-PS Jayakumar and Manoj Viswanathan were the investors of the IPO.

The company has reported a net interest income of 58.6 percent compound annual growth rate in the last two years 2018-2020.


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