India Shelter Finance to launch ₹1,200-cr IPO on Dec 13
The Hindu
India Shelter Finance fixes ₹469-493/share price band for ₹1,200cr IPO. QIBs get 50%, retail 35%, non-institutional 15%. Target segment: self-employed, low/middle-income groups in Tier II/III cities. ICICI Securities, Citigroup, Kotak Mahindra, Ambit are book-running lead managers.
New Delhi
Affordable housing finance company India Shelter Finance on Friday fixed a price band of ₹469-493 a share for its ₹1,200-crore initial public offering (IPO).
The maiden public issue will open for subscription from December 13-15, and the anchor book will be open for one day of bidding on December 12, according to a public announcement.
The IPO comprises a fresh issue of equity shares worth ₹800 crore and an offer-for-sale (OFS) of ₹400 crore by investor shareholders.
Those offering shares in the OFS include Catalyst Trusteeship Ltd, Madison India Opportunities IV, MIO Starrock, Nexus Ventures III Ltd, and Nexus Opportunity Fund II Ltd.
Proceeds of the fresh issue will be used to meet future capital requirements towards onward lending and for general corporate purposes.
Half of the issue size has been reserved for qualified institutional buyers (QIBs), 35% for retail investors, and the remaining 15% for non-institutional investors.
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