India Shelter Finance Corporation IPO: The company announced that it has completed allotment of 73,02,229 shares to anchor investors at Rs 493 per share
Retail-focused affordable housing finance company India Shelter Finance Corporation raised Rs 360 crore from anchor investors on December 12, a day ahead of its issue open.
The public issue will open on December 13 and the last day for submission of offers is December 15.
According to filings with exchanges, 38 investors participated in the anchor book, including notable names such as Goldman Sachs, Massachusetts Institute of Technology, NHIT and Steinberg India.
Among others, ICICI Prudential Mutual Fund, Nippon Life India, Kotak Mahindra Trustee, Axis Mutual Fund, UTI Mutual Fund, Mirae Asset, Whiteoak Capital, LGT Select Funds, Tata Mutual Fund, Franklin India, Motilal Oswal Mutual Fund, Edelweiss Trusteeship, Bandhan Financial Services, Quant Mutual Fund and Axis Growth Avenues AIF 1 also invested in the company through an anchor book.
Also read: India Shelter Finance IPO: 10 things you should know before subscribing to an issue worth Rs 1,200 crore
India Shelter said it has completed allotment of 73,02,229 shares to anchor investors at Rs 493 per share.
Insurance companies like SBI Life Insurance Company, ICICI Prudential Life Insurance Company and Max Life Insurance Company also invested in India Shelter.
Insurance companies like SBI Life Insurance Company, ICICI Prudential Life Insurance Company and Max Life Insurance Company also invested in India Shelter.
Also read: India Shelter Finance IPO: Should you subscribe to Rs 1,200 crore issue?
“Out of the total allotment of 73,02,229 shares, 41,69,370 shares, representing 57.10 per cent of the total allotment to anchor investors, were allotted to 14 domestic mutual funds through a total of 25 schemes,” the company said.
The WestBridge Capital and Nexus Venture Partners-based affordable housing financier aims to raise Rs 1,200 crore through the IPO. The price range for the offer has been set at Rs 469-493 per share.
The IPO comprises a fresh issue of shares worth Rs 800 crore by the company and an offer for sale (OFS) of shares worth Rs 400 crore by existing shareholders.
Also read: Inox India sets IPO price band at Rs 627-660 and aims to raise Rs 1,459 crore from OFS
Catalyst Trusteeship Limited (as trustee of the Madison India Opportunities Trust Fund), Nexus Ventures III, Catalyst Trusteeship (as trustee of the MICP Trust), Madison India Opportunities IV and MIO Starrock are the selling shareholders of the OFS.
The net issue proceeds will be used primarily to meet future capital requirements for lending amounting to Rs 640 crore and the balance will be kept for general corporate purposes.
The Gurugram-based company compares itself to Aptus Value Housing Finance India, Aavas Financiers and Home Finance Company India.
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