India Shelter Finance IPO: Check IPO Date, Price, Details | Espresso

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India Shelter Finance Corporation IPO opens on December 13. Check IPO Details Issue Date Price

December 12, 2023
India Shelter Finance Corporation IPO opens on December 13. Check IPO Details Issue Date Price

India Shelter Finance Corporation Limited is coming out with a fresh public issue to raise Rs 1200 crores from the market.

Below are the details of the India Shelter Finance Corporation Limited IPO:

  • Issue opens – December 13 (Wednesday)
  • Issue closes – December 15 (Friday)
  • Issue size – Rs 1200 crores
  • Price band – Rs 469 to 493 per equity share
  • Bid lot – 30 shares and in multiples thereof

And here are some details of the company and further details on the India Shelter Finance Corporation Limited IPO.

Company details:

  • India Shelter Finance Corporation Limited are a retail focused affordable housing finance company with an extensive distribution network comprising 203 branches as of September 30, 2023 and a scalable technology infrastructure across their business operations and throughout the loan life cycle. Between Financial Year 2021 and Financial Year 2023, they witnessed a two year CAGR growth of 40.8% in terms of assets under management (“AUM”) (Source: CRISIL Report). Their target segment is the self-employed customer with a focus on first time home loan takers in the low and middle income group in Tier II and Tier III cities in India, and affordable housing loans, i.e., loans with ticket size lower than ?2.5 million as per the criteria set out in the Refinance Scheme under Affordable Housing Fund for the Financial Year 2021-22.

  • They have an extensive and well-established network of 203 branches spread across 15 states with a significant presence in the states of Rajasthan, Maharashtra, Madhya Pradesh, Karnataka and Gujarat wherein their branch vintage is five year and above, as of September 30, 2023. They have presence in states which cover 94% of the affordable housing finance market in India, as of March 31, 2023 (Source: CRISIL Report). Also Read: Know about Pre-IPO investing

  • They leverage technology and analytics across their operations and throughout the customer life cycle. This includes onboarding, underwriting, asset quality monitoring, collections and customer services. They have implemented a paperless approach to customer acquisition and onboarding, with tailored mobile solutions that cater to different stages of the lending process. Their iSales application integrates, streamlines and optimizes their customer acquisition process whereas their IndiaShelter iCredit application facilitates underwriting.

  • They have an integrated customer relationship management and loan management system set up on a cloud-based platform. This provides them with connectivity and access to real time information with a holistic view of the profile of all their customers, throughout the loan lifecycle. They have also adopted an end-to-end in-house approach to key aspects of their lending operations including customer acquisition, underwriting, collateral valuation, legal assessment, and collections. This allows them to directly connect with their customers, minimize turnaround times, increases customer retention, and mitigate the risk of fraudulent activities.


Issue Size: Rs. 1200 crores

Issue break-up:

  • QIB – 50% of the offer – Rs 600 crores
  • NIB – 15% of the offer – Rs 180 crores
  • RET – 35% of the offer – Rs 420 crores

Listing: BSE and NSE

Registrar: KFIN Technologies Limited

UPI: All Retail & NII bidders' (bids up to Rs. 5,00,000) applications through brokers are compulsorily in UPI Mode.

Note:

  • Application made using third-party UPI or ASBA Bank A/c are liable to be rejected.
  • The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs 5,00,000) shall expire at 5 PM on the closing day of the IPO i.e. Friday, December 15, 2023     

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