Investors who want to bid for the Home First Finance Company initial public offering (IPO)have a last chance todayas the IPO will be closing on January 25. This is the third IPO in the first month of the year 2021 after IRFC and Indigo Paints. The technology driven non-banking finance company opened its Rs 1,154-crore public issue for subscription on January 21. The registrar for the IPO is KFintech Private Limited and the shares are proposed to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
Share prices: Mortgage financier HFFC fixed a price band of Rs 517-518 per share. The company also informed that the public offering will aggregate up to Rs 1,153.71 crore, which will comprise a fresh issue of up to Rs 265 crore and an offer-for-sale of upto Rs 888.71 crore.
Objective of the issue: The main reason behind the IPO is to use the net proceeds from the issue to augment the company's capital base to meet the future capital requirement and to achieve share listing benefits on the exchange.
Lot size: The lot size is of 28 shares and the minimum order quantity is also of 28 shares.
How to apply: Investors can apply in Home First Finance IPO online using either UPI (offered by brokers who don't offer banking services) or ASBA, which is available in the net banking of one's bank account as payment method.
Subscription: The company has been subscribed 2.2 times after the initial two days of bidding. The subscription has been made 1.36 times by the Qualified Institutional Buyers (QIB) so far. Whereas, the retail investors have subscribed their portion 3.40 times in the two days. On the other hand, the Non-Institutional Investors (NII) have only subscribed to 61 percent of their quota of the issue.
Being one of the most affordable housing finance companies in India, HFFC primarily caters to the low and middle income groups by offering them housing loans to construct and buy homes. The company also offers loans against property, developer finance loans, and loans to buy commercial property.
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