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Home First Finance Files For IPO To Raise Rs 1,500 Crore

By Staff

On Friday, Home First Finance Company (HFFC) filed its draft red herring prospectus with the Securities and Exchange Board of India (SEBI) for its proposed initial public offering (IPO).

Home First Finance Files For IPO To Raise Rs 1,500 Crore

Through the pubic issue, the housing finance company is expected to raise Rs 1,500 crore. It comprises of offer-for-sale (OFS) by promoters and investors for Rs 1,100 crore and a fresh issue of Rs 400 crore.

The shares are proposed to be listed on BSE and NSE.

The OFS will include sale of shares by promoters True North Fund V LLP, and Aether (Mauritius). Shares will also be sold by Bessemer India Capital Holdings II, PS Jayakumar, Manoj Viswanathan and Bhaskar Chaudhry.

The prospectus also said that the company may consider a pre-IPO placement of up to Rs 160 crore in consultation with merchant bankers.

The net proceeds from the issue will be used to augment its capital base to meet requirements arising out of the growth of business and assets.

The book running lead managers to the issue are Axis Capital, Credit Suisse Securities (India), ICICI Securities and Kotak Mahindra Capital Company, while Karvy Fintech is the registrar.

Read more about: ipo
Story first published: Friday, November 29, 2019, 15:58 [IST]
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