Home First Finance IPO: After Indigo Paints, Home First Finance Company has got a great listing on the stock market on Wednesday. Home First Finance was listed at Rs 612 on BSE. It was 18.18 percent higher than the issue price. Its listing on the NSE was at Rs 618 with a 20 per cent premium. Its shares reached a price of Rs 637 in a few minutes. This is the third successful listing of 2021 in the stock market. The market capital of Home First Finance Company at the listing price was Rs 5,349 crore. The company’s IPO was subscribed 26.26 times more than investors. The bid was received for 41.64 crore shares against the company’s 1.56 crore shares.
Mumbai’s affordable housing finance company Home First Finance launched the third IPO of the year 2021 on 21 January. Home First Finance Company has raised about 1154 crores from this IPO. The price band for this IPO was fixed at Rs 517.518. This IPO was opened from 21 January to 25 January. Prior to the launch of the IPO, the company raised Rs 346 crore from anchor investors. The lot size was 28 shares in the IPO of Home First Finance. That is, at least 28 shares had to be bid. In terms of the upper price band of Rs 518, the investors had to invest at least Rs 14,504 in it.
The average home loan ticket size of the company is Rs 10 lakh. Brokerage firm Motilal Oswal said in a note that the company has created an extensive distribution network of 70 branches in 11 states including Gujarat and Maharashtra.
Financial health of the company
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 net worth was Rs 988 crore, the company’s gross non-performing asset was 0.74 percent. Talking about till September 2020, the company had a 44 percent 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 crores came.