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India Shelter IPO

India Shelter Finance Corporation IPO

  • Status: Closed
  • RHP:
  • ₹ 14,070 / 30 shares

    Minimum Investment

IPO Details

  • Open Date

    13 Dec 2023

  • Close Date

    15 Dec 2023

  • IPO Price Range

    ₹ 469 to ₹ 493

  • IPO Size

    ₹ 1200 Cr

  • Listing Exchange

    BSE, NSE

  • Listing Date

    20 Dec 2023

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IPO Timeline

India Shelter Finance Corporation IPO Subscription Status

Last Updated: 15 December 2023 5:58 PM by 5Paisa

India Shelter Finance Corporation Limited IPO is all set to open from 13th December to 15th December 2023. The company offers affordable housing finance. The IPO includes a fresh issue of 16,227,181 shares worth ₹800 cr and an Offer-for-Sale (OFS) of 8,113,590 shares worth ₹400 cr. The IPO size is ₹1,200 cr. The share allotment date is 18th December, and the IPO will be listed on 20th December on the stock exchanges. The price band is ₹469 to ₹493 per share and the lot size is 30 shares.    

ICICI Securities Limited, Citigroup Global Markets India Private Limited, Kotak Mahindra Capital Company Limited, and Ambit Private Limited are the book-running lead managers for this IPO, while KFin Technologies Limited is the registrar. 

Objectives of India Shelter Finance Corporation IPO:

●    To fund capital requirements for onward lending
●    For corporate general purposes 
 

India Shelter Finance Corporation IPO Video:

 

Established in 1998, India Shelter Finance Corporation Limited offers affordable housing finance with a distribution network of 203 branches in 15 States of India as of September 2023. The company was previously known as “Satyaprakash Housing Finance India Limited”, but in 2009, it was changed to India Shelter Finance Corporation Limited. 

The company has a commendable 94% presence in the affordable housing finance market as of March 2023 with its major States being Rajasthan, Maharashtra, Madhya Pradesh, Karnataka and Gujarat.

Between FY21 and FY23, India Shelter Finance Corporation grew at a CAGR of  40.8% in terms of assets under management (“AUM”). The company’s target audience is self-employed customers, especially those looking to get first-time home loans in low and middle-income groups in Tier II and Tier III cities. The typical loan size is less than Rs. 25 lakh as per the criteria of the Refinance Scheme under the Affordable Housing Fund.

As of  September 30, 2023, the company avails long-term funding from 234 lenders which includes 24 scheduled commercial banks. Its sanction loan to value (“LTV”) on the portfolio stands at 50.9%. India Shelter Finance Corporation also has a good credit rating of ICRA A+ (stable) from ICRA Limited and CARE A+ (Positive) from CARE Limited.

Peer Comparison

●    Aptus Value Housing Finance India Limited
●    Aavas Financiers Limited
●    Home First Finance Company India Limited

For More Information:
India Shelter Finance IPO GMP
Webstory on India Shelter Finance IPO
Know About India Shelter Finance IPO

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY23 FY22 FY21
Revenue from operations 584.53 447.98 316.70
EBITDA 418.83 320.85 222.63
PAT 155.34 128.44 87.38
Particulars (in Rs. Crores) FY23 FY22 FY21
Total Assets 4295.59 3221.22 2462.64
Share Capital 43.76 43.70 42.98
Total Borrowings 3055.06 2145.09 1525.37
Particulars (in Rs. Crores) FY23 FY22 FY21
Net cash generated from / (used in) operating activities -852.18 -495.28 -420.85
Net cash from / (used in) investing activities 162.49 -185.77 76.64
Net cash flow from / (used in) financing activities 906.82 591.76 559.96
Net increase (decrease) in cash and cash equivalents 217.14 -89.29 215.75

Strengths

1.    The company has one of the fastest-growing AUMs among Housing Finance Companies in India, with High Yields, and a Granular, Retail Focused Portfolio.
2.    It has an Extensive and Diversified Phygital Distribution Network with a Significant Presence in Tier II and Tier III cities.
3.    The company also has an In-house Origination Model to Ensure Efficient and Seamless Operations across Various Key Functions.
4.    It is a Technology and Analytics-Driven Company with a Scalable Operating Model.
5.    The company enjoys Robust Underwriting, Collection and Risk Management Systems.
6.    It has a Diversified Financing Profile with a Demonstrated Track Record of Reducing Financing Costs.
7.    Experienced Promoters and Professional Management Team.
 

Risks

1.    The company has significant working capital requirements. 
2.    There is a risk of non-payment or default by customers.
3.    It is dependent on three States for AUM.
4.    The Indian housing finance industry is extensively regulated and the company is subject to periodic inspections by the National Housing Bank and the Reserve Bank of India.
5.    Volatility in interest rates can impact the business. 
6.    Asset-liability mismatches can affect the liquidity.
7.    Negative cash flows in previous financial years.
8.    Any downgrade in our credit ratings can impact the business operations. 
 

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FAQs

The minimum lot size of India Shelter Finance Corporation IPO is 30 shares and the investment required is ₹14,070.

The price band of India Shelter Finance Corporation IPO is ₹469 to ₹493 per share.

The India Shelter Finance Corporation IPO is open from 13th December to 15th December 2023.
 

The size of India Shelter Finance Corporation IPO is around ₹1200 cr. 

The share allotment date of India Shelter Finance Corporation IPO is 18th of December 2023.

The India Shelter Finance Corporation IPO will be listed on the 20th of December 2023.

ICICI Securities Limited, Citigroup Global Markets India Private Limited, Kotak Mahindra Capital Company Limited, and Ambit Private Limited are the book-running lead managers for India Shelter Finance Corporation IPO.

The proceeds from the issue will be used for:

●    To fund capital requirements for onward lending
●    For corporate general purposes 
 

To apply for India Shelter Finance Corporation IPO, follow the steps given below:

●    Login to your 5paisa account and select the issue in the current IPO section    
●    Enter the number of lots and the price at which you wish to apply for the India Shelter Finance Corporation IPO.    
●    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.    
●    You will receive a mandate notification to block funds in your UPI app.