India Shelter Finance files draft papers for Rs 1,800 crore IPO with Sebi

India Shelter Finance files draft papers for Rs 1,800 crore IPO with Sebi

India Shelter Finance, a company specializing in affordable housing finance, has initiated the process of going public by submitting preliminary documents to Sebi, the capital markets regulator. The proposed initial public offering (IPO) aims to raise a total of Rs 1,800 crore. The IPO structure includes a fresh issuance of equity shares valued at Rs 1,000 crore, along with a Rs 800 crore offer for sale (OFS) by existing investor shareholders. This information was outlined in the draft red herring prospectus (DRHP) that was officially lodged on Friday.

Qualified institutional buyers have 50% of the IPO portion reserved for them. NIIs are allocated a 15% portion, while retail investors can bid for 35% of the issue. Those offering shares in the OFS include Catalyst Trusteeship Ltd, Madison India Opportunities IV, MIO Starrock, Nexus Ventures III Ltd, and Nexus Opportunity Fund II. Proceeds of the fresh issue will be used to meet future capital requirements towards onward lending and for general corporate purposes.

India Shelter Finance Corporation, previously known as Satyaprakash Housing Finance India, is engaged in the business of providing housing finance. The company provides housing finance services to self-employed individuals with a focus on first-time home loan takers in the low and middle-income groups in Tier II and Tier III cities in India using integrated solutions. India Shelter Finance Corporation has over 183 branches spread across 15 states with a significant presence in the states of Rajasthan, Maharashtra, Madhya Pradesh, Karnataka, and Gujarat.

(With agency inputs.)