India Shelter Finance Corporation IPO Witnesses Strong Day 2 Subscription

14 Dec 2023 , 01:13 AM

The India Shelter Finance Corporation Ltd (ISFCL) IPO continued to generate substantial investor interest, with the public issue being oversubscribed by 2.58 times on the second day of bidding. The IPO, which opened on December 13, received bids for 4,61,83,440 shares against the total issue size of 1,79,10,449 shares. Click here to subscribe the IPO.

Subscription Highlights:

• The IPO was oversubscribed 1.48 times on the first day, with bids for 2.65 crore shares against the issue size of 1.79 crore shares.
• On the second day, the retail portion was subscribed 3.31 times, reflecting strong retail investor participation.
• Non-institutional investors showed notable interest, subscribing 3.63 times their allotted portion, with bids for 6.68 million shares against the 3.83 million on offer.
• The Qualified Institutional Buyers (QIBs) segment witnessed participation at 58%.

Anchor Investor Interest:

• Prior to the IPO launch, India Shelter Finance Corporation successfully raised Rs 360 crore from anchor investors on December 12.

India Shelter Finance Corporation Ltd is a retail-focused Affordable Housing Finance Company (HFC) specializing in Tier-2, Tier-3, and rural regions. Established in 1998, the company provides loans for house construction, extension, renovation, and the purchase of new homes or plots.

The IPO has garnered attention from leading financial entities, with ICICI Securities, Citigroup Global Markets India, and Kotak Mahindra Capital Company serving as the book-running lead managers. KFin Technologies has been appointed as the registrar for the IPO.