Home First Finance shares make a strong debut on exchanges

Home First Finance Company

Shares of mortgage financier Home First Finance made a strong debut today on exchanges with prices rising about 23% to ?639 apiece, as compared IPO issue price of ?518. The initial public offer of Home First Finance Company India, which closed last month, was subscribed 26.57 times. The price range for the offer has been fixed at ?517-518 per share.

The offer of the mortgage financier, which got fully subscribed on the first day itself on January 21, received bids for 41,42,65,488 shares against 1,56,20,948 shares on offer.

The category reserved for qualified institutional buyers(QIBs) was subscribed 52.63 times, non-institutional investors 38.82 times and individual retail investors 6.43 times.

The initial public offer (IPO) of ?1,153.71 crore, comprising a fresh issue of up to ?265 crore and an offer for sale of up to ?888.7 crore.

Home First Finance is a technology-driven affordable housing finance company, backed by marque private equity players like Warburg Pincus, Aether Mauritius and Bessemer India.

Ahead of the IPO, the housing finance company had raised ?346 crore from anchor investors.

Shares of Indigo Paints, which doubled in price on market debut on Tuesday, was today further extended gains today. Indigo Paints shares were trading 3% higher at ?3,210.

News Source:- Livemint

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