India Shelter Finance Corporation IPO Allotment Status: Check Application, Latest GMP and Listing Date

India Shelter Finance Corporation is expected to announce the basis for allotment of its shares on Monday, December 18. Daily tender procedure.

India Shelter Finance Corporation sold its IPO in the price range of Rs 469-493 per share with a lot size of 30 shares, which was open for bidding between December 13 and 15. The company sought to raise around Rs 1,200 crore from its primary offering, which included fresh sale of shares worth Rs 800 crore and an offer for sale (OFS) of up to 81,13,590 shares.

The issue was subscribed a total of 36.71 times, with the qualified institutional bidders (QIBs) portion booked 89.70 times while the non-institutional category was subscribed 28.51 times. The quota reserved for private investors was subscribed 9.95 times in the bidding process.

India Shelter Finance's gray market premium (GMP) has seen a slight correction despite a solid offering from QIB investors. It was recently reported that the company fetched a premium of Rs 140 to 145 per share, suggesting a stock market gain of 28 to 30 percent for investors. However, before bidding for the issue began, the amount was around Rs 170-175.

India Shelter Finance Corporation is an experienced authority in the real estate financing sector, focused on providing loans tailored to diverse housing needs. India Shelter Finance Corporation extends Loans Against Property (LAP) of amounts between Rs 5 lakh and Rs 50 lakh and offers a flexible repayment period of up to 20 years.

The brokerage firms were mostly positive on India Shelter Finance and suggested subscribing due to extensive distribution network, scalable technology infrastructure, strong AUM growth, controlled NPAs and growing government focus on the housing sector.

ICICI Securities, Citigroup Global Markets India, Kotak Mahindra Capital Company and Ambit are the bookrunners for the IPO of India Shelter Finance, while Kfin Technologies Limited is appointed as the registrar for the issue. The company's shares will be listed on both the BSE and NSE with December 20, Wednesday, as the tentative listing date.

Investors bidding for the issue of India Shelter Finance Corporation can check the allotment status on the IPO application review page of the BSE website. Enter Equity, under “Issue Type” select “Flair Writing Industries Limited” in the drop-down box; Enter the application number and add the PAN card number before checking in at I am not a robot before clicking on the submit button.

The allotment status can also be checked through the online portal of Kfin Technologies, the registrar for the issue. Visit Kfin Tech web portal and select India Shelter IPO from the dropbox. Enter either PAN Card Number, Application Number or DP Client ID as the selected tab and click on Search to get the quota status for your application.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are advised to consult a qualified financial advisor before making any investment decision.

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