ISFC IPO: India Shelter IPO Anchor Investors Pick Rs 360 cr Worth of Shares, Issue Opens on December 13

ISFC IPO: India Shelter Finance Corporation, a retail-focused affordable housing finance company, successfully raised Rs 360 crore from anchor investors on December 12, the day before its initial public offering (IPO) opened for subscription.

Also See: ISFC IPO GMP Today

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The public issue, which commenced on December 13, is set to conclude on December 15. The company finalized the allocation of 73,02,229 equity shares to anchor investors at a price of Rs 493 per equity share.

Among the anchor investors were prominent names such as Goldman Sachs, Massachusetts Institute of Technology (MIT), NHIT, and Steinberg India. Additionally, domestic mutual funds like ICICI Prudential Mutual Fund, Nippon Life India, Kotak Mahindra Trustee, Axis Mutual Fund, UTI Mutual Fund, Mirae Asset, Whiteoak Capital, LGT Select Funds, Tata Mutual Fund, Franklin India, Motilal Oswal Mutual Fund, Edelweiss Trusteeship, Bandhan Financial Services, Quant Mutual Fund, and Axis Growth Avenues AIF 1 participated in the anchor book.

Also See: India Shelter Finance Corporation IPO GMP Today

Furthermore, several insurance companies, including SBI Life Insurance Company, ICICI Prudential Life Insurance Company, and Max Life Insurance Company, also made investments in India Shelter.

“Of the total allocation of 73,02,229 equity shares, 41,69,370 shares, constituting 57.10 percent of the total allocation to anchor investors, were allocated to 14 domestic mutual funds across 25 schemes,” the company stated.

Also See: Upcoming IPO in India

India Shelter Finance Corporation aims to raise Rs 1,200 crore through its IPO, with a price band set at Rs 469-493 per share. The IPO comprises a fresh issue of shares worth Rs 800 crore by the company and an offer-for-sale (OFS) of Rs 400 crore worth of shares by existing shareholders.

Selling shareholders in the OFS include Catalyst Trusteeship Limited (as trustee of Madison India Opportunities Trust Fund), Nexus Ventures III, Catalyst Trusteeship (as trustee of MICP Trust), Madison India Opportunities IV, and MIO Starrock.

Also Read: ISFC IPO details

The primary purpose of the net fresh issue proceeds is to meet future capital requirements for lending, amounting to Rs 640 crore, while the remaining funds will be allocated for general corporate purposes.

Based in Gurugram, India Shelter Finance Corporation positions itself as a competitor to entities such as Aptus Value Housing Finance India, Aavas Financiers, and Home Finance Company India.

India Shelter Finance Corporation IPO

Disclaimer: This news article is for informational purposes only and does not constitute financial advice. Readers should conduct their own research and consult with financial professionals before making investment decisions.

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