India Shelter Finance Corporation is likely to announce the basis of allotment of its equity shares today, i.e. is Monday, December 18. The applicants are likely to get emails or messages on the debit of funds or revocation of mandates by Tuesday, December 19. The primary offer by the shadow-lender had received a stellar response from investors.
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India Shelter Finance sold its primary stake sale at a price range of Rs 469-493 per share, with a lot size of 30 shares. It ran from December 13 to December 15. The Rs 1,200 crore IPO comprised of a fresh share sale of Rs 800 crore and an offer-for-sale (OFS) of up to 81,13,590 equity shares.
The issue received 36.71 times bids, with the quota reserved for qualified institutional bidders (QIBs) oversubscribing 89.70 times, non-institutional investors 28.51 times, and retail investors 9.95 times.
Thanks to a strong QIB interest, India Shelter Finance’s grey market premium (GMP) hit a high of Rs 165-170 per share, indicating a potential listing gain of 33-35 per cent. The GMP was around Rs 140-145 on the final day of bidding.
India Shelter Finance Corporation, a prominent player in the housing finance sector, focuses on providing tailored loans for diverse housing needs, including Loans Against Property (LAP) ranging from Rs 5 lakh to Rs 50 lakhs, with flexible repayment tenures of up to 20 years.
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Brokerage firms were positive on the India Shelter Finance IPO, with many of them recommending ‘subscribe’ to the issue, citing its extensive distribution network, scalable technology infrastructure, strong growth in Assets Under Management (AUM), controlled Non-Performing Assets (NPAs), and the government’s increasing emphasis on the housing sector.
The book running lead managers for the IPO were ICICI Securities, Citigroup Global Markets India, Kotak Mahindra Capital Company, and Ambit, with Kfin Technologies Limited serving as the registrar. The shares will be listed on both BSE and NSE, with a tentative listing date of December 20, Wednesday.
Investors who participated in the India Shelter Finance Corporation IPO can check the allotment status on the BSE website’s IPO application check page. By selecting ‘Flair Writing Industries Limited’ under the issue type in the dropbox, entering the application number and PAN card number, and completing the ‘I am not a Robot’ verification, investors can obtain their allotment status.
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Additionally, the allotment status can be verified through the online portal of Kfin Technologies, the registrar to the issue. By selecting ‘India Shelter’ in the dropbox and entering either the PAN card number, Application Number, or DP Client ID, investors can click ‘search’ to access their application’s allotment status.
