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India Shelter Finance IPO: Opens on Dec 13 closes on Dec 15

India Shelter Finance integrates advanced technology and analytics throughout its operations, enhancing every stage of the customer lifecycle


Ahmedabad, Dec 11: India Shelter Finance Corporation Limited IPO is all set to open from 13th December to 15th December 2023. The company offers affordable housing finance. The IPO includes a fresh issue of 16,227,181 shares worth ₹800 cr and an Offer-for-Sale (OFS) of 8,113,590 shares worth ₹400 cr. The IPO size is ₹1,200 cr.

India Shelter Finance IPO opens for subscription on December 13, 2023 and closes on December 15, 2023. The allotment for the India Shelter Finance IPO is expected to be finalized on Monday, December 18, 2023. India Shelter Finance IPO will list on BSE, NSE with tentative listing date fixed as Wednesday, December 20, 2023.

India Shelter Finance IPO price band is set at ₹469 to ₹493 per share. The minimum lot size for an application is 30 Shares. The minimum amount of investment required by retail investors is ₹14,790. The minimum lot size investment for sNII is 14 lots (420 shares), amounting to ₹207,060, and for bNII, it is 68 lots (2,040 shares), amounting to ₹1,005,720.

India Shelter Finance Corporation is a retail-focused, affordable housing finance company. Primarily serving the self-employed in low and middle-income groups, especially first-time home loan takers in Tier II and Tier III cities, the company offers affordable housing loans. The company has an extensive and well-established network of 203 branches spread across 15 states with a significant presence in the states of Rajasthan, Maharashtra, Madhya Pradesh, Karnataka and Gujarat. The firm also has a presence in states that cover 94% of the affordable housing finance market in India as on March 2023.

India Shelter Finance integrates advanced technology and analytics throughout its operations, enhancing every stage of the customer lifecycle. This integration spans from on-boarding and underwriting to asset quality monitoring, collections, and customer services. The company has seen a significant CAGR growth of 40.8% between FY 2021 and FY 2023 in assets under management.

The AUM was Rs. 51,806.89 million as of H1FY24. A notable aspect of India Shelter Finance Corporation is its emphasis on empowering women in financial matters. As of September 30, 2023, 97.9% of its loans included women as borrowers. India Shelter Finance Corporation’s credit and risk management strategies, supported by advanced technology and data analytics, have effectively maintained asset quality.

As of September 30, 2023, the Company obtained long-term funding from a diversified lender base comprising over 37 counterparties, including 24 scheduled commercial banks. We have a healthy credit rating of ICRA A+ (stable) from ICRA Limited and CARE A+ (Positive) from CARE Limited, as of September 30, 2023. 

The Company has a professional and experienced management team with experience in the banking and finance sectors.  Rupinder Singh, Managing Director and Chief Executive Officer, has extensive experience in mortgage financing.  Anil Mehta, is Individual Promoter and West Bridge Crossover Fund, LLC and Aravali Investment Holdings are Corporate Promoters, and other Shareholders include Nexus Ventures III, Ltd., MIO Starrock and Madison India Opportunities IV (Madison India Capital).

Disclaimer: Investors must study and learn all useful info about the company before any investment. 

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