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 name | India Shelter Finance Limited |
| Sector | Finance |
| Industry | Finance – Others |
| Company Website | https://www.indiashelter.in/ |
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 date | 13 December 2023 |
| IPO Closing | 15 December 2023 |
| Basis of Allotment | 18 December 2023 |
| Initiation Refund | 19 December 2023 |
| Credit to Demat Account | 19 December 2023 |
| Listing Date | 20 December 2023 |
India Shelter Finance IPO details
| Issue type | Book 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 size | 30 Shares |
| Shareholding pre-issue | 90,823,956 |
| Shareholding post-issue | 107,051,137 |
| Listing Exchange | BSE & NSE |
India Shelter Finance IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 30 | ₹14,790 |
| Retail (Max) | 13 | 390 | ₹192,270 |
| S-HNI (Min) | 14 | 420 | ₹207,060 |
| S-HNI (Max) | 67 | 2,010 | ₹990,930 |
| B-HNI (Min) | 68 | 2,040 | ₹1,005,720 |
India Shelter Finance IPO Reservation Details
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
India Shelter Finance Financial Performance
| FY 2021 | FY 2022 | FY 2023 | H1 FY 2024 | |
| Revenue | 316.71 | 447.98 | 584.53 | 385.99 |
| Expenses | 209.84 | 292.91 | 404.28 | 260.22 |
| Net income | 87.39 | 128.45 | 155.34 | 107.35 |
| Margin (%) | 27.59 | 28.67 | 26.58 | 27.82 |
India Shelter Finance Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 9.93 | 14.63 | 17.47 |
| PE ratio | – | – | 26.85 – 28.22 |
| RONW (%) | 9.80 | 12.80 | 13.40 |
| NAV | 109.04 | 123.11 | 141.38 |
| ROE (%) | – | – | 13.40 |
| EBITDA (%) | 70.29 | 71.62 | 71.65 |
| Debt/Equity | 1.34 | 1.79 | 2.12 |
Company Promoters
- Anil Mehta
- WestBridge Crossover Fund, LLC
- Aravali Investment Holdings
Promoter Holding
| Pre Issue Share Holding | 56.75% |
| Post Issue Share Holding | 48.17% |
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
KFIN TECHNOLOGIES LIMITED
Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Tel: +91 40 6716 2222 / 1800 309 4001
E-mail: indiashelter.ipo@kfintech.com
Website: www.kfintech.com
India Shelter Finance Contact Details
INDIA SHELTER FINANCE CORPORATION LIMITED
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
Email: compliance@indiashelter.in
Website: www.indiashelter.in
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
