India Shelter Finance Corporation has successfully garnered over ₹360 crore from anchor investors, laying a strong foundation just a day before the commencement of its public issue on December 12.
In an exchange filing, the company disclosed the participation of approximately 38 investors in the anchor book, including prominent names like ICICI Prudential, Goldman Sachs, and the Massachusetts Institute of Technology.
The allocation of 7,302,229 equity shares to anchor investors was finalized at an allocation price of ₹493 per share. Notable participants in the anchor book also include Nippon Life India, Kotak Mahindra Trustee, Axis Mutual Fund, UTI Mutual Fund, Mirae Asset, and Tata Mutual Fund.
Of the total allocation, 57.10% (4,169,370 equity shares) were allotted to 14 domestic mutual funds through a total of 25 schemes, as outlined in the company’s exchange filing.
India Shelter Finance Corporation, a WestBridge Capital and Nexus Venture Partners-backed affordable housing finance firm, aims to raise ₹1,200 crore through its imminent initial public offering (IPO). The IPO comprises a fresh issue of shares valued at ₹800 crore by the company and an offer-for-sale (OFS) of ₹400 crore worth of shares by existing shareholders.
The IPO’s price range is set at ₹469-493 per share. Catalyst Trusteeship Limited, Nexus Ventures III, Madison India Opportunities IV, and others are among the selling shareholders in the OFS.
The net proceeds from the fresh issue will primarily be directed towards meeting future capital requirements for lending, with ₹640 crore allocated for this purpose. The remaining funds will be earmarked for general corporate purposes.
Headquartered in Gurugram, India Shelter Finance Corporation is often compared to peers such as Aptus Value Housing Finance India, Aavas Financiers, and Home Finance Company India.
