India Shelter Finance IPO: Issue Subscribed 36.62 Times On Last Day Of Offer

On the other hand, the IPO of cryogenic tank maker INOX India was subscribed seven times on day two of subscription on Friday

India Shelter Finance IPO had a fresh issue of up to Rs 800 crore and an OFS of up to Rs 400 crore. It had a price range of Rs 469-493 a share.

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The initial public offer (IPO) of affordable housing finance company India Shelter Finance Corporation received 36.62 times subscription on the last day of offer on Friday. The initial share sale got bids for 65,59,44,390 shares against 1,79,10,449 shares on offer, as per NSE data.

The quota for Qualified Institutional Buyers (QIBs) received 89.70 times subscription while the portion for non-institutional investors attracted 28.47 times subscription. The Retail Individual Investors (RIIs) part was subscribed 9.79 times. 

On Tuesday, India Shelter Finance said it has collected Rs 360 crore from anchor investors. Those who offered shares in the OFS include Catalyst Trusteeship Ltd, Madison India Opportunities IV, MIO Starrock, Nexus Ventures III Ltd, and Nexus Opportunity Fund II Ltd.

Proceeds of the fresh issue will be used to meet future capital requirements towards onward lending and for general corporate purposes.

India Shelter Finance, which is backed by Westbridge Capital and Nexus Venture Partners, is a retail-focused affordable housing finance company with an extensive distribution network and technology infrastructure. The company's target segment is self-employed customers 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.

ICICI Securities, Citigroup Global Markets India, Kotak Mahindra Capital Company and Ambit Private Ltd were the managers to the offer. 

INOX India IPO

The IPO of cryogenic tank maker INOX India was subscribed seven times on day two of subscription on Friday. The Rs 1,459.32 crore initial share sale received bids for 10,94,94,440 shares against 1,54,77,670 shares on offer, as per NSE data.

The category for non-institutional investors got subscribed 13.73 times while the quota for Retail Individual Investors (RIIs) received 8.17 times subscription. The part for Qualified Institutional Buyers (QIBs) got subscribed by 17 per cent.

The INOX India IPO was subscribed 2.78 times on the first day of subscription on Thursday. The IPO of up to 2,21,10,955 equity shares has a price range of Rs 627-660 a share. Inox India Ltd on Wednesday collected Rs 438 crore from anchor investors.