Home First Finance Company is an affordable housing finance company. The company primarily caters to the low and middle income groups by offering them housing loans to construct and buy homes. It further offers other loans like loans against property, developer finance loans, and loans to buy commercial property.

The company has a diverse lead generation source channel including connectors, contractors, architects, affordable housing developers, and others. As on Sep 30, 2019, the business has a strong branch network of 65 branches across 60 districts in 11 different states and a union territory in India with key presence in market such as Maharashtra, Karnataka, Tamil Nadu, and Gujarat.

Company Strengths:

  • Technology-driven affordable housing company.
  • Strong penetration in the largest housing finance market.
  • Diversified lead source channel.
  • Experienced and qualified managerial team.

Company Promoters:

True North Fund V LLP and Aether (Mauritius) Limited are the company promoters.

Company Financials:

Summary of financial Information (Restated Consolidated)
Particulars For the year/period ended (₹ in million)
30-Sept-20 31-Mar-20 31-Mar-19 31-Mar-18
Total Assets 37,221.96 34,796.11 24,820.05 13,649.42
Total Revenue 2,431.93 4,196.57 2,709.21 1,342.37
Profit After Tax 529.53 792.49 452.04 159.96

Objects of the Issue:

The net proceed from the issue will be used towards following purposes.

  • To augment company’s capital base to meet future capital requirement.
  • To achieve share listing benefits on the exchange.

IPO Home First Finance Company India Limited.

Home First Finance Company India Limited
Company Details
  • Home First Finance Company India Limited is a technology driven affordable housing finance company that targets first time home buyers in low and middle-income groups. Company primarily offer customers housing loans for the purchase or construction of homes, which comprised 92.1% of Gross Loan Assets, as of September 30, 2020. Companies Gross Loan Assets have grown at a CAGR of 63.4% between the financial year 2018 and the financial year 2020 and increased from ₹ 13,559.32 million as of March 31, 2018 to ₹ 37,300.12 million, as of September 30, 2020.
  • Company serve salaried and self-employed customers. Salaried customers account for 73.1% of its Gross Loan Assets and selfemployed customers account for 25% of Gross Loan Assets, as of September 30, 2020. Company serviced 44,796 active loan accounts, as of September 30, 2020. Company also offer other types of loans comprising loans against property, developer finance loans and loans for purchase of commercial property, which comprised 5.1%, 1.9% and 0.9% of its Gross Loan Assets, as of September 30, 2020, respectively.
  • As of September 30, 2020, Company has a network of 70 branches covering over 60 districts in 11 states and a union territory in India, with a significant presence in urbanized regions in the states of Gujarat, Maharashtra, Karnataka and Tamil Nadu.
  • Company typically obtain long-term funding from a variety of sources including private and public sector banks, the NHB and through assignment transactions. According to the CRISIL Report, Company has the highest share of NHB refinance (26%) among its peers in its borrowing mix as of March 31, 2020. Company has improved its credit ratings from ‘CARE A-’ as of March 31, 2017 to ‘CARE A+’ as of September 30, 2020 and also currently have an ‘A+ (stable) rating from ICRA Limited.
Issue Period Opens on: Thursday, January 21, 2021
Closes on: Monday, January 25, 2021.
Price Band Rs.517 /- to Rs.518- per equity shares
Bid Lot 28 Shares and in multiple thereof
Face Value Rs.2/- per share
Issue Size Rs.1153.72 Cr
Issue break-up QIB  – 50 % of the offer –   Rs.  576.86 Cr
NIB  – 15 % of the offer –    Rs.  173.06 Cr
RET – 35 % of the offer –    Rs.  403.80 Cr
Listing BSE & NSE
Registrar KFin Technologies Private Limited
UPI All Retail Applications through brokers are compulsorily in UPI Mode