The listing of India Shelter Finance Ltd. in the stock market has been doing well. The company’s shares are listed on NSE at Rs 620 with a premium of 25.76%. Whereas on BSE it is listed at Rs 612.70 per share with a premium of 24.28%.
India Shelter Finance’s IPO received a good response, it was subscribed a total of 36.71 times. The highest bids were received from institutional investors, this portion was filled 89.70 times. The share of non-institutional investors was 28.51 times and that of retail investors was 9.95 times.
Raised Rs 360 crore from anchor investor
India Shelter Finance’s IPO was launched on December 13, but before that the company had raised Rs 360 crore from anchor investors. The company had distributed 73.02 lakh shares among 38 anchor investors at a price of Rs 493 per share. These include Nippon Life India Asset Management, Motilal Oswal Financial Services, Edelweiss Trusteeship Company, SBI Life Insurance Company and Max Life Insurance Company.
What does the company do
Established in 1998, the company specializes in housing finance, offering loans for construction, expansion, renovation, purchase of house or plot and loan against property. As of September 30, the company has 203 branches in 15 states. The company targets self-employed customers, and focuses on first-time home loan takers in the lower and middle income groups in tier-2 and tier-3 cities in India.
