Home First Finance Company India Ltd. IPO Detail
Home First Finance Company is an affordable housing finance company. The company primarily caters to the low and middle income groups by offering them housing loans to construct and buy homes. It further offers other loans like loans against property, developer finance loans, and loans to buy commercial property.
The company has a diverse lead generation source channel including connectors, contractors, architects, affordable housing developers, and others. As on Sep 30, 2020, the business has a strong branch network of 70 branches across 60 districts in 11 different states and a union territory in India with key presence in market such as Maharashtra, Karnataka, Tamil Nadu, and Gujarat.
The firm currently focuses on leveraging technology benefits in the area such as processing loan applications, risk management, and managing customer experience. It offers quick and transparent loan transactions through its mobile app. As on Sep 30, 2020, it has serviced a total of 44,796 active loans.
Company Strengths
- Technology-driven affordable housing company.
- Strong penetration in the largest housing finance market.
- Diversified lead source channel.
- Experienced and qualified managerial team.
Company Promoters
True North Fund V LLP and Aether (Mauritius) Limited are the company promoters.IPO Details
| IPO Opening Date | Jan 21, 2021 |
| IPO Closing Date | Jan 25, 2021 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹2 per equity share |
| IPO Price | ₹517 - 518 per equity share |
| Market Lot | 28 Shares |
| Min Order Quantity | 28 Shares |
| Listing At | BSE, NSE |
| Issue Size | ₹1,153.72 Cr |
| Fresh Issue | Eq Shares of ₹2 (aggregating up to ₹265.00 Cr) |
| Offer for Sale | ₹888.72 Cr |
| Retail Portion | - |
IPO Tentative Timetable
The Home First Finance Company India Ltd. IPO open date is Jan 21, 2021, and the close date is Jan 25, 2021. The issue may list on Feb 03, 2021.
| IPO Open Date | Jan 21, 2021 |
| IPO Close Date | Jan 25, 2021 |
| Basis of Allotment Date | Jan 29, 2021 |
| Initiation of Refunds | Feb 01, 2021 |
| Credit of Shares to Demat Account | Feb 02, 2021 |
| IPO Listing Date | Feb 03, 2021 |
IPO Lot Size
The Home First Finance Company India Ltd. IPO market lot size is 28 shares. A retail-individual investor can apply for up to 13 lots (364 shares or ₹188552).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 28 | ₹14504 |
| Maximum | 13 | 364 | ₹188552 |
IPO Promoter Holding
| Pre Issue Share Holding | 52.85% |
| Post Issue Share Holding | 33.70% |
Company Financials:
For the year/period ended (₹ in Crs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 30-Sep-20 | 37,221.96 | 2,431.93 | 529.53 |
| 31-Mar-20 | 34,796.11 | 4,196.57 | 792.49 |
| 31-Mar-19 | 24,820.05 | 2,709.21 | 452.04 |
| 31-Mar-19 | 13,649.42 | 1,342.37 | 159.96 |
Objects of the Issue:
The net proceed from the issue will be used towards following purposes.
- To augment company's capital base to meet future capital requirement.
- To achieve share listing benefits on the exchange.
