Home First Finance Company IPO: The IPO of Home First Finance Company is getting great response from investors. By noon on the second day, the IPO was subscribed nearly 1.8 times. Home First Finance is a Mumbai based affordable housing finance company. The IPO has so far received bids for 2.79 crore equity shares, while its issue size is 1.56 crore equity shares. Experts are also looking positive on the IPO and are expecting a stock market listing at its premium. This issue of the company is about Rs 1154 crore. The funds raised through this will be used by the company to increase its capital base.
Which part how much subscribe
So far, the IPO has been subscribed 1.8 times. Reserve Porson has received bids for retail investors 2.7 times so far, while for qualified institutional buyers, reserve portion has received bids of 1.28 times. At the same time, non-institutional investors have subscribed 40 percent so far. Up to 50 per cent of the IPO is reserved for qualified institutional buyers, 35 per cent for retail investors and 15 per cent for non-institutional.
Investment opportunity by 25 January
The IPO of Home First Finance Company was opened on January 21 and it was full on the very first day. Investments can be made in this IPO till 25 January i.e. Monday. Prior to launching the IPO, the company has raised Rs 346 crore from anchor investors. The price band for the IPO has been fixed at Rs 517-518. The lot size will be 28 shares in the IPO of Home First Finance. That is, at least 28 shares have to be bid. If you look at the upper price band of Rs 518, then investors will have to invest at least Rs 14504 in it.
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The company performs better financial health
Home First Finance started in 2010. The company is the Technology Drive Affordable Housing Finance Company. The company offers home loans to low and middle-class customers. In more than 60 districts of 11 states, the company has loaned loans to more than 50 thousand customers. As of September 2020, the company’s AUM was Rs 3,730 crore, while the net worth was Rs 988 crore. The company’s gross non-performing asset was 0.74 percent. As of September 2020, the company had a 44 per cent annual growth in profits in the first half of last year; The company had a profit of 52.95 crores in 6 months. While revenue stood at Rs 88.2 crore with 37 percent growth. The company made a profit of 79.25 crore in FY 2020. While this revenue of 151.27 crore came.