India Shelter Finance IPO: Key Details, Dates, Objectives, Risk
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Indian Shelter Finance Corporation (ISFC) is conducting an IPO from December 13, 2023, to December 15, 2023. Each share is priced in the range of ₹469 to ₹493 and has a face value of ₹5 per share. Investors can purchase a minimum of 30 shares for ₹14,790. The total value of this offering is ₹1200 crores, comprising a fresh issue of ₹800 crores.
Key Details on India Shelter Finance IPO
| IPO Date | December 13, 2023 to December 15, 2023 |
| Face Value | ₹5 per share |
| Price | 469-493 |
| Lot Size | 30 |
| Total Shares offered | 24,340,771 shares |
| Offer for Sale | 8,113,590 shares at ₹5 |
| Issue Type | Book Built Issue IPO |
| Listing at | BSE, NSE |
What does ISFC Industries Limited do?
- India Shelter Finance Corporation Limited founded in 1998, specializes in housing finance.
- Provides loans for home construction, extension, renovation, property purchase, and loans against property (LAP).
- Loan amounts: Rs. 5 Lakhs to Rs. 50 Lakhs, with a maximum tenure of 20 years.
In 2010 a certificate of registration was granted to ISFC by the National Housing Bank to carry on the business of a housing finance institution without accepting public deposits.
Details of the Offer for Sale by the Selling Shareholders
| Name of the Selling Shareholder | Type | Number Of equity Shares Offered / Amount (₹) |
| Catalyst Trusteeship Limited (as trustee of MICP trust) | Investor Selling Shareholder | Equity shares up to 0.20 Million |
| Catalyst Trusteeship Limited (as trustee of Madison India Opportunities Trust Fund) | Investor Selling Shareholder | Equity shares up to 1,712.90 Million |
| Madison India Opportunities IV | Investor Selling Shareholder | Equity shares up to 543.30 Million |
| MIO Starrock | Investor Selling Shareholder | Equity shares up to 317.60 Million |
| Nexus Ventures III, Ltd. | Investor Selling Shareholder | Equity shares up to 1,425 Million |
Company’s Financials
In Rs Crore:
| Particular | FY 23 | FY 22 | Growth % |
| Total revenue from operations | 584.530 | 447.978 | 30.48 |
| Total expenses | 404.279 | 292.905 | 38.02 |
| Net Profit | 155.342 | 128.447 | 20.93 |
Assets Under Management
In Rs Crore:
| Company | AUM (Rs million) | AUM Growth (CAGR FY21-23) |
| Aptus Value Housing Finance | 67,380 | 28.7% |
| India Shelter Finance Corporation | 43,594 | 40.8% |
| Poonawalla Housing Finance | 62,890 | 25.7% |
| Shubham Housing Finance | 31,140 | 26.7% |
| Vastu Housing Finance | 60,970 | 54.4% |
Key Takeaways
- IPO Structure is a mix of fresh issue and offer for sale (OFS) with a ₹1,200 crore size aims to draw a broad investor base.
- Promoter's share drops from 56.75% to 48.17%, raising concerns for some but potentially improving stock liquidity and market dynamics.
- Funding will be used for increasing capital to support long-term growth, particularly in expanding loan portfolio.
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