Home First Finance Company (HFFC) received SEBI's go-ahead for the IPO offer. The affordable housing finance company filed the draft red herring prospectus or DRHP on November 28, 2019 with the SEBI.
Through the public issue, the company looks to raise Rs. 1500 crore. The IPO would comprise a fresh issue of Rs. 400 and an OFS by promoters and investors including True North Fund V LLP, Aether (Mauritius), Bessemer India Capital Holdings II, P S Jayakumar, Manoj Vishwanathan and Bhaskar Chaudhry.
Axis Capital, Credit Suisse Securities (India), ICICI Securities and Kotak Mahindra Capital Company are the book running lead managers (BRLMs) for the share sale.
Also, in consultation with the book running lead manager there could be a pre-IPO placement of up to Rs. 160 crore and if it is carried out as per schedule then the issue size will be lowered to that extent.
The proceeds from the IPO issue will be put for enhancing the capital base of the company and that will be used for meeting future financial needs.
HFFC was founded in 2010 by PS Jayakumar, MD and CEO of Bank of Baroda and erstwhile Mphasis chairman Jerry Rao.