Home First Finance Company IPO – Jan 21 to 25

EspressoLogy

Home First Finance Company IPO – Jan 21 to 25

January 19, 2023
Home First Finance Company IPO – Jan 21 to 25

Home First Finance Company India Limited is coming out with a fresh public issue to raise Rs 1,153.72 crores from the market.

Key details of the issue:

  • Issue opens – Jan 21, 2021 (Thursday)
  • Issue closes – Jan 25, 2021 (Monday)
  • Issue size – Rs 1,153.72 crores
  • Price band – Rs 517 – 518 per equity share

And here are some details of the company and further details on the Home First Finance Company issue.

Company details:

  • Home First Finance Company India Limited is a technology-driven affordable housing finance company that targets first-time home buyers in low- and middle-income groups. The company primarily offer customers housing loans for the purchase or construction of homes, which comprised 92.1% of Gross Loan Assets, as of Sept 30, 2020. The company’s Gross Loan Assets have grown at a CAGR of 63.4% between the financial year 2018 and the financial year 2020 and increased from Rs 13,559.32 million as of Mar 31, 2018, to Rs 37,300.12 million, as of Sept 30, 2020.

  • The company serves salaried and self-employed customers. Salaried customers account for 73.1% of its Gross Loan Assets and self-employed customers account for 25% of Gross Loan Assets, as of Sept 30, 2020. The company has serviced 44,796 active loan accounts as of Sept 30, 2020. The company also offers other types of loans, comprising loans against property, developer finance loans and loans for the purchase of commercial property, which comprised 5.1%, 1.9% and 0.9% of its Gross Loan Assets, as of Sept 30, 2020, respectively.

  • As of Sept 30, 2020, the company has a network of 70 branches covering over 60 districts in 11 states and a union territory in India, with a significant presence in urbanised regions in the states of Gujarat, Maharashtra, Karnataka and Tamil Nadu.

  • The company typically obtains long-term funding from a variety of sources, including private and public sector banks, the NHB and through assignment transactions. According to the CRISIL Report, the company has the highest share of NHB refinance (26%) among its peers in its borrowing mix as of Mar 31, 2020. The company has improved its credit ratings from CARE A- as of Mar 31, 2017, to CARE A+ as of Sept 30, 2020, and also currently has an A+ (stable) rating from ICRA Limited.

Issue size: Rs 1,153.72 crores

Issue break-up:

  • QIB – 50% of the offer – Rs 576.86 crores
  • NIB – 15% of the offer – Rs 173.06 crores
  • RET – 35% of the offer – Rs 403.80 crores

Listing: NSE and BSE

Registrar: KFin Technologies Private Limited

UPI: All retail applications through brokers are compulsorily in UPI mode

Not an Espresso customer, but still want to apply for the Indigo Paints IPO? Become an Espresso customer in just 15 mins* by tapping here and take it from there! (* T&C apply)

Team Espresso
by Team Espresso

We care that you succeed

Bringing readers the latest happenings from the world of Trading and Investments specifically and Finance in general.