Upcoming IPO in market: Home First Finance Company

Home First Finance Company (HFFC), the Mumbai based affordable housing finance company has planned to launch its maiden IPO for subscription from January 21st with a price band of Rs 517-518. The company got an approval for SEBI to launch an IPO in March last year.

The total issue size will be Rs 1,153.72 crore, which includes fresh equity shares worth Rs 256 crore and offer for sale worth Rs 888.72 Crores by existing shareholders and promoters.

The issue will close on 25th January and investors can bid for minimum 28 equity shares and in multiples of 28 thereafter.

HFFC is a technology driven affordable housing finance company who provides home loans to the people from low and middle income group. The company has sanctioned loans to over 50,000 clients spread across 60 districts of 11 states and 1 Union Territory.

The AUM of the company in September 2020 was Rs 3730 Crores with a net worth of over 988 Crore and gross non-performing assets of 0.74 per cent.

Axis Capital, Credit Suisse Securities (India), ICICI Securities and Kotak Mahindra Capital Company are the book running lead managers to the issue.

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