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Home First Finance provides home loans to customers in low and middle-income segments
Home First Finance, Mumbai-based affordable housing finance company, made a modest debut on the bourses. The shares opened at a premium of 19 per cent at Rs 612.15 on the BSE, as against issue price of Rs 518 per share. On the NSE, the shares opened at a 19.46 per cent premium at Rs 618.80. At 10:20 am, the shares of Home First Finance were trading at Rs 594.70, higher by 14.40 per cent on the BSE and at Rs 594.35, up 14.70 per cent on the NSE.
The company’s Rs 1,154-crore initial public offering, which was open between January 21 and 25, was subscribed 27 times. The IPO received bids for 6.59 times of the issue size in the retail segment, 52.53 times in qualified institutional buyers (QIB) portion and 39.00 times in the non-institutional category. The shares were offered in the price band of Rs 517-518 per share.
The Home First Finance IPO consisted of a fresh issue of Rs 265 crore and an offer for sale of Rs 888.72 crore by promoters and current shareholders.
The company will utilise net proceeds from its fresh issue to augment capital base to meet future requirements.
Founded in 2010, Home First Finance provides home loans to customers in the low and middle-income segments in 60 districts across 11 states and a Union Territory.
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