In a significant move in the realm of housing finance, India Shelter Finance Corporation Limited is set to launch its Initial Public Offering (IPO). A stalwart in the business of housing finance, the company has consistently provided support for individuals aspiring to own, extend, or improve their homes. Let’s delve into the details of the India Shelter Finance IPO to understand its structure, financials, and the role it plays in the affordable housing sector.
IPO Details:
The India Shelter Finance IPO is a book-built issue of Rs 1,200.00 crores, encompassing a fresh issue of 1.62 crore shares amounting to Rs 800.00 crores and an offer for sale of 0.81 crore shares aggregating to Rs 400.00 crores.
Structure of the Issue:
| Type | Number of Shares | Amount (in Crores) |
|---|---|---|
| Fresh Issue | 16,227,181 | ₹800.00 |
| Offer for Sale | 8,113,590 | ₹400.00 |
IPO Timeline:
The India Shelter Finance IPO opens for subscription on December 13, 2023, and closes on December 15, 2023. The allotment is expected to be finalized on Monday, December 18, 2023, with the listing date tentatively fixed as Wednesday, December 20, 2023.
Price Band:
The price band for the India Shelter Finance IPO is set at ₹469 to ₹493 per share, with a minimum lot size for an application being 30 shares.
India Shelter Finance | इंडिया शेल्टर फाइनेंस Today IPO GMP
| Price Range | Lot Size | Max. Investment | Bid Dates | Listing Date | GMP Yesterday (12 Dec 2023) | GMP Today (13 Dec 2023) | Expected Share Price | Expected Profit per Lot | Buy Y/N |
|---|---|---|---|---|---|---|---|---|---|
₹469 to ₹493 | 30 Shares | ₹ 14790 | 13-Dec-23 to 15-Dec-23 | 20-Dec-23 | ₹150 | ₹135 | ₹628 | ₹4050 | Y |
| Date | GMP |
|---|---|
| 13-Dec-2023 | ₹135 |
| 12-Dec-2023 | ₹150 |
| 11-Dec-2023 | ₹200 |
| 10-Dec-2023 | ₹90 |
| 9-Dec-2023 | ₹0 |
इंडिया शेल्टर फाइनेंस IPO Reservation:
Investors can take note of the reservation details:
| Investor Category | Shares Offered |
|---|---|
| QIB | Not more than 50.00% of the Net offer |
| Retail | Not less than 35.00% of the Offer |
| NII (HNI) | Not less than 15.00% of the Offer |
IPO Lot Size:
Investors can bid for a minimum of 30 shares and in multiples thereof. The lot size calculator provides insights into the minimum and maximum investment for various investor categories:
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 30 | ₹14,790 |
| Retail (Max) | 13 | 390 | ₹192,270 |
| S-HNI (Min) | 14 | 420 | ₹207,060 |
| S-HNI (Max) | 67 | 2,010 | ₹990,930 |
| B-HNI (Min) | 68 | 2,040 | ₹1,005,720 |
IPO Promoter Holding:
The promoters of India Shelter Finance Corporation Limited are Anil Mehta, WestBridge Crossover Fund, LLC, and Aravali Investment Holdings.
| Share Holding Pre Issue | 56.75% |
|---|---|
| Share Holding Post Issue | 48.17% |
About India Shelter Finance Corporation Limited:
Incorporated in 1998, India Shelter Finance Corporation Limited is a key player in the business of housing finance. The company provides loans for house construction, extension, renovation, and purchase of new homes or plots. Additionally, it offers loans against property (LAP).
Key Strengths of the Company:
- One of the fastest-growing housing finance companies in India, with a granular, retail-focused portfolio.
- Distribution network across various cities, including Tier II and Tier III cities.
- In-house origination model for efficient and seamless operations.
Financial Performance:
As of 30th Nov 2023, India Shelter has disbursed over Rs. 5500 Crores in loans. The company has a network of 183 branches spread across 15 states. The financials indicate a positive trajectory:
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets (₹ Cr.) | 4,758.68 | 4,295.59 | 3,221.22 | 2,462.64 |
| Revenue (₹ Cr.) | 398.58 | 606.23 | 459.81 | 322.80 |
| Profit After Tax | 107.35 | 155.34 | 128.45 | 87.39 |
| Net Worth (₹ Cr.) | 1,374.97 | 1,240.53 | 1,076.13 | 937.27 |
| Reserves and Surplus | 1,335.36 | 1,197.98 | 1,033.02 | 894.20 |
| Total Borrowing (₹ Cr.) | 3,272.48 | 2,973.43 | 2,059.40 | 1,480.72 |
Key Performance Indicators:
| KPI | Values |
|---|---|
| P/E (x) | 27.77 |
| Market Cap (₹ Cr.) | ₹5,291.69 |
| ROE | 13.4% |
| Debt/Equity | 2.12 |
| EPS (₹) | 17.47 |
| RoNW | 13.4% |
IPO Objectives:
The net proceeds from the India Shelter Finance IPO will be utilized for:
- Meeting future capital requirements towards onward lending.
- General corporate purposes.
IPO Review:
[Dilip Davda] The company has created a niche place in affordable housing finance in the middle and lower-middle class and has extended its reach to 15 states with 203 branches. It has posted steady growth in its top and bottom lines, and the management is confident of maintaining the trends. Based on FY24 annualized earnings, the issue appears fully priced. Investors may consider parking funds for medium to long-term rewards in this rising star.
Investors are encouraged to refer to the India Shelter Finance IPO Red Herring Prospectus (RHP) for detailed information before making investment decisions.
This comprehensive article provides potential investors with a detailed overview of the India Shelter Finance IPO, offering insights into its structure, financials, and the company’s role in providing affordable housing finance. As always, it is advisable for investors to conduct thorough research and consult financial experts before making any investment decisions.
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