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Home First IPO to open on January 21: Here are key things to know

Home First IPO to open on January 21: Here are key things to know

By Ritu Singh  Jan 19, 2021 4:16 PM IST (Updated)

The initial public offer (IPO) of affordable housing finance company Home First Finance Company (HFFC) will open for subscription on January 21 with a price band of Rs 517-518 per share.

Mortgage lender Home First Finance Company India Limited is set to launch its Rs 1,153 crore initial public offering (IPO) on January 21. This will be the third public offering for 2021, after IRFC and Indigo Paints.

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The Mumbai-based housing finance company is backed by marquee private equity players, including True North, which holds 30.2 percent stake, Warburg Pincus with a 29.2 percent stake, GIC with 20.1 percent, and Bessemer Venture Partners with 10.6 percent. Former Bank of Baroda MD & CEO and ex-Citi banker PS Jayakumar holds 3.4 percent stake in Home First Finance and others about 6.6 percent.
Home First Finance has set a price band of Rs 517-518 per equity share, with a face value of Rs 2 each. The issue opens on January 21 and closes on January 25. Investors can bid in lots of 28 shares and multiples thereof. The anchor investor bidding date has been set for January 20. Post the issue, Home First Finance's implied market capitalisation could rise between Rs 4,518 crore and Rs 4,527 crore.
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The issue of equity shares aggregating up to Rs 1,153.72 crore includes a fresh issue aggregating up to Rs 265 crore, and offer for sale (OFS) aggregating up to Rs 888.72 crore.
Incorporated on February 3, 2010, Home First Finance is an affordable housing finance company that targets first time home buyers in low- and mid-income groups. It primarily offers customers housing loans for the purchase or construction of homes, which comprised 92.1 percent of gross loan assets, as of September 30, 2020. Gross loan assets have grown at a CAGR of 63.4 percent between FY18-20 and increased to Rs 3,730.01 crore as of September 30, 2020.
Its net worth stood at Rs 988.2 crore as of 1H FY21. Home First Finance has a network of 70 branches covering over 60 districts in 11 states and a union territory in India, with a significant presence in the states of Gujarat, Maharashtra, Karnataka and Tamil Nadu.
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