India Shelter Finance Corporation Limited: Initial Public Offer of ₹1200 crore to open on December 13, 2023

 

Mumbai: “India Shelter Finance Corporation Limited” (“India Shelter” or the “Company”), 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 our business operations and throughout the loan life cycle, will open its Bid/Offer about its initial public offer of Equity Shares on Wednesday, December 13, 2023.

The total offer size of Equity Shares of face value ₹5 each aggregating up to ₹12,000 million [₹1200 crore] comprises fresh issues aggregating up to ₹8,000 million [₹800 crore] and Offer for Sale aggregating up to 4,000 million [₹400 crore] by Selling Shareholders.

The Price Band of the Offer has been fixed at ₹469 to ₹493 Per Equity Share. Bids can be made for a minimum of 30 Equity Shares and in multiples of 30 Equity Shares thereafter.

The Anchor Investor Bidding Date shall be Tuesday, December 12, 2023. The Bid/Offer will open on Wednesday, December 13, 2023, for subscription and will close on Friday, December 15, 2023.

The Company proposes to utilize net proceeds from the fresh issue of Equity Shares to meet future capital requirements towards lending estimated to ₹6,400 million [₹640 crore] and the balance amount towards general corporate purposes.