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India Shelter Finance IPO full details

by Koushik Gope
Published: Last Updated on 0 comment

India Shelter Finance Corporation Ltd. (ISFC) is a retail-focused affordable housing finance company in India. It was incorporated in 1998 and has since become a major player in the affordable housing sector, disbursing over Rs. 5500 crores in loans as of November 30, 2023.

Key points about India Shelter Finance:

  • Focus: Providing affordable housing loans to individuals and families across India.
  • Loan Products: Offers a wide range of loan products, including home loans, home extension loans, loan against property, and construction finance.
  • Target Segment: Focuses on first-time homebuyers and borrowers in the lower and middle-income segments.

Key Performance Indicator

KPIValues
P/E (x)27.77
Market Cap (₹ Cr.)5291.69
ROE13.4%
Debt/Equity2.12
EPS (Rs)17.47
RoNW13.4%

India Shelter Finance IPO Details

IPO DateDecember 13, 2023 to December 15, 2023
Listing DateWednesday, December 20, 2023
Face Value₹5 per share
Price Band₹469 to ₹493 per share
Lot Size30 Shares
Total Issue Size24,340,771 shares
(aggregating up to ₹1,200.00 Cr)
Fresh Issue16,227,181 shares
(aggregating up to ₹800.00 Cr)
Offer for Sale8,113,590 shares of ₹5
(aggregating up to ₹400.00 Cr)
Issue TypeBook Built Issue IPO
Listing AtBSE, NSE
Share holding pre issue90,823,956
Share holding post issue107,051,137

India Shelter Finance IPO Timeline (Tentative Schedule)

India Shelter Finance IPO opens on December 13, 2023, and closes on December 15, 2023.

IPO Open DateWednesday, December 13, 2023
IPO Close DateFriday, December 15, 2023
Basis of AllotmentMonday, December 18, 2023
Initiation of RefundsTuesday, December 19, 2023
Credit of Shares to DematTuesday, December 19, 2023
Listing DateWednesday, December 20, 2023
Cut-off time for UPI mandate confirmation5 PM on December 15, 2023

India Shelter Finance IPO Lot Size

ApplicationLotsSharesAmount
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

Investor CategoryShares Offered
QIB Shares OfferedNot more than 50.00% of the Net offer
Retail Shares OfferedNot less than 35.00% of the Offer
NII (HNI) Shares OfferedNot less than 15.00% of the Offer

Promoter Holding

Anil Mehta, WestBridge Crossover Fund, LLC, and Aravali Investment Holdings are the company’s promoters.

Share Holding Pre Issue56.75%
Share Holding Post Issue48.17%

India Shelter Finance Corporation Limited Financial Information

Period Ended30 Sep 202331 Mar 202331 Mar 202231 Mar 2021
Assets4,758.684,295.593,221.222,462.64
Revenue398.58606.23459.81322.80
Profit After Tax107.35155.34128.4587.39
Net Worth1,374.971,240.531,076.13937.27
Reserves and Surplus1,335.361,197.981,033.02894.20
Total Borrowing3,272.482,973.432,059.401,480.72

About India Shelter Finance Corporation Limited

India Shelter Finance Corporation Limited (ISFC) is a retail-focused affordable housing finance company in India. Incorporated in 1998, it has become a major player in the affordable housing sector, disbursing over Rs. 5500 crores in loans as of November 30, 2023.

Mission:

  • To provide affordable housing loans to individuals and families across India.
  • To support the development of the affordable housing sector and contribute to the nation’s economic growth.
  • To be a responsible and ethical corporate citizen, committed to sustainability and social good.

Vision:

  • To be the leading provider of affordable housing finance in India, empowering families to achieve homeownership.
  • To be recognized for its innovative and customer-centric approach, and for its contribution to building a more inclusive and sustainable society.

Key Products and Services:

  • Home Loans: ISFC offers a variety of home loan products, including:
    • Home Purchase Loans
    • Home Extension Loans
    • Loan against Property
    • Construction Finance
    • Balance Transfer Loans
    • Top-up Loans
  • Micro Housing Loans: ISFC provides loans for the construction, purchase, or renovation of small homes, typically below 300 sq. ft.
  • Commercial Loans: ISFC offers loan products for small and medium-sized businesses (SMBs) to finance their commercial property needs.

Target Segment:

  • First-time homebuyers
  • Borrowers in the lower and middle-income segments
  • Individuals living in rural and semi-urban areas

Distribution Network:

  • Extensive network of branches across India, including rural and semi-urban areas
  • Online loan application and processing facility
  • Partnerships with various housing developers and financial institutions

Technology Infrastructure:

  • Scalable technology infrastructure to support loan processing, customer service, and risk management
  • Mobile app for loan application, tracking, and account management
  • Online portal for loan documentation and e-signature

Financial Performance:

  • Strong financial performance with consistent track record of profitability and growth
  • Profit After Tax (PAT) of Rs. 112.66 crores for the financial year 2023
  • Gross Non-Performing Assets (GNPA) of 2.35% as of March 31, 2023

Awards and Recognition:

  • Recognized as one of the “Top 10 Affordable Housing Finance Companies in India” by various financial publications
  • Awarded the “Best Affordable Housing Finance Company” award by CNBC-TV18 in 2023
  • Received the “Golden Peacock Award for Excellence in Corporate Governance” in 2022

Social Impact:

  • Plays a key role in bridging the housing gap in India
  • Contributes to the development of affordable housing stock in the country
  • Creates employment opportunities in the construction and housing sectors
  • Empowers families to achieve homeownership and improve their living standards

Overall, India Shelter Finance Corporation Limited is a well-established and reputable company with a strong commitment to providing affordable housing finance to individuals and families in India. It plays a vital role in the development of the affordable housing sector and contributes to the nation’s economic and social progress.

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