India Shelter Finance IPO

India Shelter Finance IPO will open for subscription from 13 December 2023. The company aims for an issue size of ₹1,200 Cr through this IPO.

Company Overview

Full nameIndia Shelter Finance Limited
IndustryFinance – Others
Company Website

About Company

India Shelter Finance Corporation stands out as a retail-centric provider of affordable housing finance, boasting an expansive distribution network and a technologically scalable infrastructure. During the fiscal years spanning 2021 to 2023, the company experienced a CAGR rate of 40.8% over the two years of its Assets Under Management (AUM).

The primary target audience for India Shelter Finance Corporation comprises self-employed individuals, particularly those seeking their first home loans within the low and middle-income brackets in Tier II and Tier III cities across India. The implementation of credit and risk management policies, supported by advanced technology and data analytics throughout various business processes, has been instrumental in maintaining the quality of assets, reflected in a Gross Non-Performing Asset (GNPA) of 1.13% as of 31 March 2023.

As of 31 March 2023, India Shelter Finance boasts a widespread and well-established network encompassing 183 branches spanning across 15 states. It holds a notable presence in key states such as Rajasthan, Maharashtra, Madhya Pradesh, Karnataka, and Gujarat, where the vintage of its branches is five years and above. Additionally, the company has extended its footprint to states that collectively account for 94% of the affordable housing finance market in India. India Shelter Finance Corporation has secured long-term funding from a diverse group of lenders, involving more than 35 counterparties, with 24 of them being scheduled commercial banks, and the company maintains a robust credit rating of ICRA A+ (stable) from ICRA Limited and CARE A+ (stable) from CARE Limited, reinforcing its financial stability and credibility.

The Objectives of the Issue

  • To meet future capital requirements towards onward lending.
  • General corporate purposes.

India Shelter Finance IPO Timetable

IPO Opening date13 December 2023
IPO Closing15 December 2023
Basis of Allotment18 December 2023
Initiation Refund19 December 2023
Credit to Demat Account19 December 2023
Listing Date20 December 2023
(Cut-off time for UPI mandate confirmation – 5 PM on December 15, 2023)

India Shelter Finance IPO details

Issue typeBook Built Issue IPO
IPO issue size₹1,200 Cr – 24,340,771 shares
Fresh Issue₹800 Cr – 16,227,181 shares
Offer for sale₹400 Cr – 8,113,590 shares
Face value₹05 per share
Price Band ₹469 to ₹493 per share
Lot size30 Shares
Shareholding pre-issue90,823,956
Shareholding post-issue107,051,137
Listing ExchangeBSE & NSE

India Shelter Finance IPO Lot Size

Retail (Min)130₹14,790
Retail (Max)13390₹192,270
S-HNI (Min)14420₹207,060
S-HNI (Max)672,010₹990,930
B-HNI (Min)682,040₹1,005,720

India Shelter Finance IPO Reservation Details

QIB Shares Offered50%
NII (HNI) Shares Offered15%
Retail Shares Offered35%

India Shelter Finance Financial Performance

 FY 2021FY 2022FY 2023H1 FY 2024
Net income87.39128.45155.34107.35
Margin (%)27.5928.6726.5827.82
(Amount in ₹ Crores)

India Shelter Finance Valuations & Margins

FY 2021FY 2022FY 2023
PE ratio26.85 – 28.22
RONW (%)9.8012.8013.40
ROE (%)13.40
EBITDA (%)70.2971.6271.65

Company Promoters

  • Anil Mehta
  • WestBridge Crossover Fund, LLC
  • Aravali Investment Holdings

Promoter Holding

Pre Issue Share Holding56.75%
Post Issue Share Holding48.17%

India Shelter Finance IPO Lead Manager(s)

  • ICICI Securities Limited
  • Citigroup Global Markets India Private Limited
  • Kotak Mahindra Capital Company Limited
  • Ambit Private Limited (Past IPO Performance)

India Shelter Finance Registrar

Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Tel: +91 40 6716 2222 / 1800 309 4001

India Shelter Finance Contact Details

3rd Floor, Upper Ground Floor, and Lower Ground Floor,
Plot No. 15, Institutional Area, Sector 44, Gurugram 122 002, Haryana
Phone: +91 124 413 1800

India Shelter Finance IPO Allotment Status

India Shelter Finance IPO allotment status will be available on the KFin Tech website. Click on this link to get allotment status.

Final thoughts

India Shelter Finance IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.

Happy Investing

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