Home First is a technology-driven, affordable housing finance company, providing home loans to customers
Affordable housing financier Home First will open its initial public offering (IPO) of equity shares on January 21 and close on January 25.
The price band for the offer has been decided at Rs 517 to 518 per equity share. The company and promoter selling shareholders may consider participation by anchor investors. The offer aggregating up to Rs 1,153.7 crore comprises of a fresh issue of up to Rs 265 crore and an offer for sale aggregating up to Rs 888.7 crore by the selling shareholders being True North Fund V LLP and Aether (Mauritius) Ltd, Bessemer India Capital Holdings II Ltd, an existing investor and certain individual shareholders of the company.
The fresh issue portion of offer aggregates up to Rs 265 crore excluding the pre-IPO placement of Rs 75 crore and Rs 4 crore to Orange Clove Investments BV (an affiliate of Warburg Pincus) and certain employees of the company respectively by way of preferential allotments.
The offer for sale aggregates up to Rs 888.7 crore: up to Rs 435.6 crore by True North, up to Rs 291.2 crore by Aether, up to Rs 120.4 crore by Bessemer India Capital Holdings II Ltd and up to Rs 41.3 crore by the two individual shareholders.
Axis Capital, Credit Suisse Securities India, ICICI Securities and Kotak Mahindra Capital Company are the book running lead managers to the offer.
Home First is a technology-driven, affordable housing finance company, providing home loans to customers from low- and middle-income groups. Over the last 10 years, the company has sanctioned home loans to more than 50,000 customers in 60 districts across 11 states and one union territory.
As on September 30 last year, Home First had Rs 3,730 crore of assets under management and Rs 988 crore of net worth.