India Shelter Finance IPO date, India Shelter Finance IPO subscription status: On Friday (Day 3), India Shelter Finance's share sale received bids for 65,75,23,020 shares against 1,79,10,449 shares on offer. Overall, the public issue has been subscribed 36.71 times on Day 3 of the bidding process. The maiden public issue of India Shelter Finance which opened for subscription on December 13 concluded on December 15. Affordable housing finance company fixed a price band of Rs 469-493 a share for its Rs 1,200-crore initial public offering (IPO). 

India Shelter Finance IPO subscription status

Category Subscription (No. of times the equity reserved)
Qualified institutional buyers  89.70
Non-institutional investors 28.51
Retail investors 9.95
Overall 36.71
Source: Exchange data

India Shelter Finance IPO OFS data

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The IPO comprises a fresh issue of equity shares worth Rs 800 crore and an offer-for-sale (OFS) of Rs 400 crore by investor shareholders. Those offering shares in the OFS include Catalyst Trusteeship Ltd, Madison India Opportunities IV, MIO Starrock, Nexus Ventures III Ltd, and Nexus Opportunity Fund II Ltd.

India Shelter Finance IPO: Fund Utilisation

Proceeds of the fresh issue will be used by the company to meet future capital requirements towards onward lending and for general corporate purposes. Half of the issue size has been reserved for qualified institutional buyers (QIBs), 35 per cent for retail investors, and the remaining 15 per cent for non-institutional investors.

India Shelter Finance IPO: Lot size

Investors can bid for a minimum of 30 equity shares and in multiples of 30 equity shares thereafter. India Shelter Finance, which is backed by Westbridge Capital and Nexus Venture Partners, is a retail-focused affordable housing finance company with an extensive distribution network and technology infrastructure.

The company's target segment is self-employed customers with a focus on first-time home loan takers in the low and middle-income groups in Tier II and Tier III cities in India.

India Shelter Finance IPO: Book-running lead managers

ICICI Securities, Citigroup Global Markets India, Kotak Mahindra Capital Company, and Ambit are the book-running lead managers to manage the IPO.

(With PTI inputs)

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