India Shelter Finance Corporation Ltd IPO: Issue Details, Open/Close Date | Research 360 by Motilal Oswal
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INDIA SHELTE FIN

CMP

699.60

+32.90 (4.93%)

₹493

Offer Price

₹ 1,200.00 Cr

Issue Size

₹ 14,790

Min Investment

36.71x

Times Subscribed

30

Lot size

Time Line

  • 13
    Dec 2023
    Open
  • 15
    Dec 2023
    Close
  • 18
    Dec 2023
    Finalisation of Basis of Allotment
  • 19
    Dec 2023
    Initiation of Refunds
  • 19
    Dec 2023
    Transfer of Shares to Demat Account
  • 20
    Dec 2023
    Listing Date

Shares Offered

Number of Times Subscribed

Objects of the Offer

  • Further Grow and Diversify its Distribution Network to Achieve Deeper Penetration in Key States and Drive Sustainable Growth.

  • Leverage its Technology Stack to Achieve Scalability, Improving Efficiency and Productivity of its Existing Branches.

  • Diversify Borrowing Profile and Optimize Borrowing Costs.

  • Enhance Brand Equity and Foster Sustainability.

Products & Services

  • India Shelter Finance Corporation Limited is a retail focused affordable housing finance company with an extensive distribution network.

Strengths

  • One of the fastest growing assets under management among housing finance companies in India, high yields, and granular, retail focused portfolio.

  • Extensive and diversified Phygital distribution network with significant presence in Tier II and Tier III cities.

  • In-house origination model to ensure efficient and seamless operations across various key functions.

  • Technology and analytics-driven company with scalable operating model.

  • Robust underwriting, collection and risk management systems.

Risks

  • The company requires substantial capital for its business and operations and any disruption in the company sources of financing could have an adverse effect on its business, results of operations and financial condition.

  • Its inability to comply with the financial and other covenants under its debt financing arrangements could adversely affect the company business, results of operations and financial condition.

  • Three states contributed to 63.4% of its assets under management for the Financial Year 2023. As such, any adverse developments in these states could have an adverse effect on its business, results of operations and financial condition.

  • The risk of non-payment or default by the company customers may adversely affect its business, results of operations and financial condition.

  • If the credit quality of its loan book deteriorates or the company is unable to implement effective monitoring and collection methods, its results of operations and financial condition may be adversely affected.

Company Promoters

Promoters Holding

Issue For IPO
8.60%
Pre Holding

56.70%

Post Holding

48.10%

Top Promoters Holding

Financials

All values in Cr

Mar-2022 Mar-2023 Mar-2023 3-Yr trend
Revenue 448.06 (41.40%) 584.61 (30.50%) 13.40 (-)
Gross Profit 448.06 (41.40%) 584.61 (30.50%) 13.40 (-)
Net Income 448.06 (41.40%) 584.61 (30.50%) 13.40 (-)
Assets 448.06 (41.40%) 584.61 (30.50%) 13.40 (-)
Liabilities 448.06 (41.40%) 584.61 (30.50%) 13.40 (-)

Peers

Company Name Revenue (Cr) Net Profit (Cr) Assets (Cr) Liabilities (Cr) ROE EPS BVPS Current Ratio Debt to Assets
India Shelter Finance Corporation Ltd 584.61 155.34 4,229.40 2,988.87 13.40 35.49 283.45 6.81 0.71
Aptus Value Housing Finance India Ltd 1,093.36 503.01 7,176.28 7,176.28 15.06 10.08 67.05 7.00 1.13
AAVAS Financiers Ltd 1,608.76 429.64 13,409.61 13,409.61 13.14 54.26 413.57 3.20 3.01
Home First Finance Company India Ltd 790.98 228.29 6,737.02 6,737.02 12.56 26.01 206.48 3.38 2.65

Book Running Managers

  • ICICI Securities Ltd
  • Citigroup Global Markets India Pvt Ltd
  • Kotak Mahindra Capital Company Ltd
  • Ambit Pvt Ltd

Registrar & Transfer Agent

KFin Techologies Ltd

Karvy Selenium Tow-B,
31&32 Financial Dist,
Nanakramguda - Hyderabad-500032
Phone : 91-40-67162222 Fax: 91-40-23001153/23420814

Company Contact Information

6th Flr Plot # 15 Sector 44,
Institutional Area,
Gurugram - 122002
Phone : +91 124 413 1800 Email : compliance@indiashelter.in www.indiashelter.in

Offer Related Information

Initial public offering of 24,340,768^ equity shares of face value of Rs. 5 each ("Equity Shares") of India Shelter Finance Corporation Limited (The "Company" or the "Issuer") for cash at a price of Rs. 493.00 per equity share of face value of Rs. 5 each including a securities premium of Rs. 488.00 per equity share (the "Offer Price") aggregating to Rs. 1200.00 crores^ (the "Offer"). The offer comprises of a fresh issue of 16,227,180^ equity shares of face value of Rs. 5 each by the company... More

News

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