India Shelter Finance IPO is a book built issue of Rs 1,200.00 crores. The issue is a combination of fresh issue of 1.62 crore shares aggregating to Rs 800.00 crores and offer for sale of 0.81 crore shares aggregating to Rs 400.00 crores.
India Shelter Finance IPO opens for subscription on December 13, 2023 and closes on December 15, 2023. The allotment for the India Shelter Finance IPO is expected to be finalized on Monday, December 18, 2023. India Shelter Finance IPO will list on BSE, NSE with tentative listing date fixed as Wednesday, December 20, 2023.
India Shelter Finance IPO price band is set at ₹469 to ₹493 per share. The minimum lot size for an application is 30 Shares. The minimum amount of investment required by retail investors is ₹14,790. The minimum lot size investment for sNII is 14 lots (420 shares), amounting to ₹207,060, and for bNII, it is 68 lots (2,040 shares), amounting to ₹1,005,720.
ICICI Securities Limited, Citigroup Global Markets India Private Limited, Kotak Mahindra Capital Company Limited and Ambit Private Limited are the book running lead managers of the India Shelter Finance IPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to India Shelter Finance IPO RHP for detailed information.
India Shelter Finance IPO Details
| IPO Date | December 13, 2023 to December 15, 2023 |
| Listing Date | [.] |
| Face Value | ₹5 per share |
| Price Band | ₹469 to ₹493 per share |
| Lot Size | 30 Shares |
| Total Issue Size | 24,340,771 shares (aggregating up to ₹1,200.00 Cr) |
| Fresh Issue | 16,227,181 shares (aggregating up to ₹800.00 Cr) |
| Offer for Sale | 8,113,590 shares of ₹5 (aggregating up to ₹400.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 90,823,956 |
| Share holding post issue | 107,051,137 |
India Shelter Finance IPO Reservation
India Shelter Finance IPO offers 24,340,769 shares. 4,868,154 (20.00%) to QIB, 3,651,116 (15.00%) to NII, 8,519,270 (35.00%) to RII and 7,302,229 (30.00%) to Anchor investors. 283,975 RIIs will receive minimum 30 shares and 2,897 (sNII) and 5,795 (bNII) will receive minimum 420 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 7,302,229 (30.00%) | NA |
| QIB Shares Offered | 4,868,154 (20.00%) | NA |
| NII (HNI) Shares Offered | 3,651,116 (15.00%) | |
| bNII > ₹10L | 2,434,077 (10.00%) | 5,795 |
| sNII < ₹10L | 1,217,039 (5.00%) | 2,897 |
| Retail Shares Offered | 8,519,270 (35.00%) | 283,975 |
| Total Shares Offered | 24,340,769 (100%) |
India Shelter Finance IPO Anchor Investors Details
India Shelter Finance IPO raises Rs 360.00 crore from anchor investors. India Shelter Finance IPO Anchor bid date is December 12, 2023. India Shelter Finance IPO Anchor Investors list
| Bid Date | December 12, 2023 |
| Shares Offered | 7,302,229 |
| Anchor Portion Size (In Cr.) | 360.00 |
| Anchor lock-in period end date for 50% shares (30 Days) | January 30, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | April 23, 2024 |
India Shelter Finance IPO Timeline (Tentative Schedule)
India Shelter Finance IPO opens on December 13, 2023, and closes on December 15, 2023.
| IPO Open Date | Wednesday, December 13, 2023 |
| IPO Close Date | Friday, December 15, 2023 |
| Basis of Allotment | Monday, December 18, 2023 |
| Initiation of Refunds | Tuesday, December 19, 2023 |
| Credit of Shares to Demat | Tuesday, December 19, 2023 |
| Listing Date | Wednesday, December 20, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 15, 2023 |
India Shelter Finance IPO Lot Size
Investors can bid for a minimum of 30 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| 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 |
| Lot Size Calculator |
India Shelter Finance IPO Promoter Holding
Anil Mehta, WestBridge Crossover Fund, LLC, and Aravali Investment Holdings are the company’s promoters.
| 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, previously known as Satyaprakash Housing Finance India Limited, is engaged in the business of housing finance. The company provides loans for house construction, extension, renovation, and purchase of new homes or plots. The company also offers loans against property (LAP).
The company offers loan amounts between Rs. 5 Lakhs to Rs. 50 Lakhs for a tenure of up to 20 years. As of 30th Nov 2023, IndiaShelter has disbursed over Rs. 5500 Crores in loans, helping families own, extend, or improve their homes.
As of September 30, 2023, the company has a network of 203 branches spread across 15 states with a presence in Rajasthan, Maharashtra, Madhya Pradesh, Karnataka, and Gujarat.
The company’s number of branches increased from 115 as of March 31, 2021, to 130 as of March 31, 2022, and 203 as of September 30, 2023.
The company pursues a Phygital model which involves a “foot on the street” approach to physical customer service through a network of more than 1,500 customer advisors (as of 30 September 2023) and the digitalization of customer service in all credit and banking processes.
India Shelter Finance Corporation Limited has an in-house team of over 300 collection officers, as of March 31, 2023.
To enhance customer satisfaction, India Shelter has launched iServe – a dedicated customer service application catering to queries and concerns of existing customers online on time.
As of March 31, 2023, of the company borrowers, 97.5% had one or more borrowers as women and 71.3% of our customers were first-time home loan takers.
India Shelter Finance Corporation Limited Financial Information (Restated Consolidated)
India Shelter Finance Corporation Limited’s revenue increased by 31.84% and profit after tax (PAT) rose by 20.94% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 4,758.68 | 4,295.59 | 3,221.22 | 2,462.64 |
| Revenue | 398.58 | 606.23 | 459.81 | 322.80 |
| Profit After Tax | 107.35 | 155.34 | 128.45 | 87.39 |
| Net Worth | 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 | 3,272.48 | 2,973.43 | 2,059.40 | 1,480.72 |
| Amount in ₹ Crore |
Key Performance Indicator
India Shelter Finance IPO Market Cap is Rs 5277.62 Cr and P/E (x) is 27.77.
| KPI | Values |
|---|---|
| P/E (x) | 27.77 |
| Post P/E (x) | 24.58 |
| Market Cap (₹ Cr.) | 5277.62 |
| ROE | 13.4% |
| Debt/Equity | 2.12 |
| EPS (Rs) | 17.47 |
| RoNW | 13.4% |
Check India Shelter Finance IPO Peer Comparison here.
Objects of the Issue (India Shelter Finance IPO Objectives)
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- To meet future capital requirements towards onward lending, and
- General corporate purposes.
India Shelter Finance IPO Review (Apply)
[Dilip Davda] The company has created a niche place in affordable housing finance in middle and lower middle class and has extended its reach in 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 of funds for the medium to long term rewards in this rising star. Read detail review…
India Shelter Finance IPO Subscription Status (Bidding Detail)
The India Shelter Finance IPO is subscribed 0.63 times on December 13, 2023 11:45:00 AM (Day 1). The public issue subscribed 0.88 times in the retail category, 0.01 times in the QIB category, and 0.82 times in the NII category. Check Day by Day Subscription Details (Live Status) Reload Subscription
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 0.01 | 48,68,154 | 45,840 |
| NII | 0.82 | 36,51,116 | 29,75,694 |
| bNII (bids above ₹10L) | 0.63 | 24,34,077 | 15,25,164 |
| sNII (bids below ₹10L) | 1.19 | 12,17,039 | 14,50,530 |
| Retail | 0.88 | 85,19,270 | 75,19,512 |
| Total | 0.63 | 1,70,38,540 | 1,06,86,540 |
Total Application : 161,787
India Shelter Finance Corporation Limited Contact Details
India Shelter Finance Corporation Limited
6 th Floor, Plot No. 15 Sector 44,
Institutional Area,
Gurugram – 122 002
Phone: +91 124 413 1800
Email: compliance@indiashelter.in
Website: https://www.indiashelter.in/
India Shelter Finance IPO Registrar
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: indiashelter.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/