India Shelter Finance Corporation Limited is launching its IPO. The IPO opens for subscription on 13th December and will close on 15th December 2023.
What does India Shelter Finance do?
Incorporated in 1998, India Shelter Finance Corporation Limited is a retail-focused affordable housing finance company targetting self-employed customers 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 ₹25 lakhs.
As of September 30, 2023, The company has an extensive 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 years and above.
Between FY 2021 and 2023, They witnessed a two-year CAGR growth of 40.8% in terms of assets under management (AUM).
They primarily finance the purchase and self-construction of residential properties by first-time home loan takers through home loans and also offer loans against property. As of September 30, 2023, 70.7% of their customers were first-time home loan takers, and home loans account for 57.6% of their AUM, while loans against property represent 42.4% of their AUM.
What is the issue size of the India Shelter Finance IPO?
The 1200 crore public offer of the company is a combination of a Fresh equity issue worth 800 crore and an offer for sale (OFS) worth Rs. 400 crore from the existing shareholders.
Financials of India Shelter Finance Corporation Limited (₹ crores)
| Financial Year | Total Assets | Total Revenue | Profit After Tax | EPS |
|---|---|---|---|---|
| March 31, 2021 | 2,462.64 | 322.80 | 87.39 | 10.19 |
| March 31, 2022 | 3,221.22 | 459.81 | 128.45 | 14.80 |
| March 31, 2023 | 4,295.59 | 606.23 | 155.34 | 17.75 |
Schedule/Timeline of India Shelter Finance Corporation Limited IPO
| Issue Period | 13th December to 15th December 2023 |
|---|---|
| Price band | ₹ 469 to 493 |
| Minimum Bid quantity | 30 & Multiples thereof |
| Deadline for accepting UPI mandate | Until 5 PM on the issue closing day |
| Finalization of Allotment | December 18, 2023 |
| Initiation of Refunds | December 19, 2023 |
| Credit of Shares | December 19, 2023 |
| Date of Listing | December 20, 2023 |
| Mandate end date | December 30, 2023 |
| Anchor Investors Lock-In End Date (50% of the investment) | January 15, 2024 |
| Anchor Investors Lock-In End Date (Remaining investment) | March 15, 2024 |
How to apply to the India Shelter Finance Corporation Limited IPO?
You can apply for the India Shelter Finance Corporation Limited IPO using any supported UPI app by following two steps:
- Enter your bid on Kite
- Accept the UPI mandate on your phone
On acceptance of the mandate, the bid amount will get blocked in your bank account. Click here to learn more.
How to check the allotment status for India Shelter Finance Corporation Limited IPO?
You can check the allotment status for the India Shelter Finance Corporation Limited IPO on the website of the Registrar and Transfer agent. Alternatively, you can also check the allotment status on the NSE website.