India Shelter Finance may raise 120 billion rupees on December 13

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The first public fundraising (IPO) of the Indian Shelter Financial Company may be open to subscribe

According to market sources, the stock will be subscribed on December 13 and will be closed on December 15.The distribution scale will be around 120 billion rupees.

The company submitted a draft document to the market regulatory agency in August this year and was approved in November.

The price range issued this time will be announced quickly, including new share capital and offer sale (OFS).

About 50%of the equity will be left to qualified institutional investors, 35%are left to retail investors, and the remaining 15%will be left to non -institutional investors.Chennai Stock

Former Satyaprakash Housing Finance India (SHFIL) obtained a certificate of registration in 1998.It was taken over by a group of professionals and issued a new registration certificate by State Housing Bank in 2010.

Indian asylum finance is a financial company that focuses on retail, with a wide range of distribution networks and scalable business

Technical infrastructure.From the 21st to 23rd fiscal year, the two -year compound annual growth rate of its management assets (AUM) was 40.8%.

The company provides urban families with up to 5 million rupees of housing loans for construction, expansion, renovation and purchase of new houses.Varanasi Investment

Its target group is self -employed customers, focusing on the first housing loan recipients of low -income groups in second- and third -tier cities in India.

As of the fiscal year of March 2023, the total revenue of financial companies in the Indian Shelter Institute increased by 32%year -on -year to 6.06 billion rupees.During the same period, profit increased by 21%to 1.55 billion rupees.

The net income obtained from the issuance of new shares will be used to meet future capital requirements and general company use.

ICICI Securities, Citi Group Global Market, Kotak Mahindra Capital and AMBIT Personal Co., Ltd. are the main bookkeeper managers of this IPO.

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