Shares of the company opened at Rs 165, a discount of almost 4 per cent to the IPO price. According to data from the National Stock Exchange, the scrip hit a high of Rs 175.90 and a low of Rs 159.90. Substantial volumes were reported in the counter.
Repco Home Finance, which came out with a public issue last year had priced its IPO at the top end of the Rs Rs 165 to Rs 172 price band. The IPO of Repco Home Finance ended on 15 March 2013. It received bids for 2.21 crore shares compared with 1.33 crore shares on offer. The IPO was subscribed 1.65 times.
The Qualified Institutional Buyers (QIBs) category was oversubscribed 3.39 times, Non Institutional Investors category was subscribed 0.35 times, Retail Individual Investors (RIIs) category was subscribed 0.51 times and Employees category was subscribed 0.57 times.
Repco Home Finance raised Rs 40.09 crore through pre-IPO placement of 23.31 lakh equity shares to anchor investors. The shares were allocated at upper end of the IPO price band of Rs 172 per share.
The company had allocated 23.31 lakh equity shares to anchor investors at Rs 172 per share aggregating to Rs 40.1 crore. Some of the anchor investors include Goldman Sachs India Fund, Birla Sun Life Trustee Company, Reliance Capital and, Nomura India Investment Fund.
Established in April 2000, Repco Home Finance is a wholly owned subsidiary of Repco Bank Ltd. It is engaged in providing individual home loans (85.6 per cent) and loans against properties (14.4 per cent). As of December 2012, it had 73 branches and 19 satellite centres, mostly in South India.