India Shelter Finance Corporation Limited IPO open | India Shelter Finance Ltd IPO review on Upstox
India Shelter Finance Corporation Limited has opened its IPO subscription from December 13th to December 15th. To apply for India Shelter Finance Corporation Limited IPO on Upstox, click here: https://upstox.com/ipo-initial-public...
In this video, let's explore the key details of this IPO and delve into the company's business model.
*IPO Details:*
*Issue Opens:* December 13, 2023
*Issue Closes:* December 15, 2023
*Price Band:* ₹469 – ₹493 per share
*Lot Size:* 30 shares
*Cost per Lot:* ₹14,790
*Issue Size:* Approx ₹1,200 crore
What’s covered in this video with timestamps:
*00:43: India Shelter Finance Corporation Limited’s business*
India Shelter Finance Corporation is a retail-focused affordable housing finance company, with a primary focus on Tier II and Tier III Indian cities. The company caters to self-employed individuals and the low and middle-income groups, particularly first-time home loan takers. Its product portfolio includes home loans and loans against properties.
*01:01: Expansive Network*
The company has a wide network spanning 15 states and approximately 203 branches. As of September 30, 2023, it had significant presence in Rajasthan, Maharashtra, Madhya Pradesh, Karnataka, and Gujarat. The company strategically aims to expand its presence in regions where there is considerable demand for affordable housing finance.
*01:30: Digital Focus & Sound Debt System*
India Shelter Finance Corporation's integrated customer relationship management and loan management systems are both based on cloud platforms. In FY23, 91% of the company's collections were done digitally. Its debt financing requirements are primarily fulfilled by public and private sector banks, while for refinancing, it relies on NHB, external commercial borrowings, and nonconvertible debentures. As of September 2023, the company held healthy credit ratings from ICRA and CARE.
*02:00: Financial Snapshot*
Between FY21 and FY23, the company witnessed a 25% rise in assets under management (AUM) and a 21% rise in profit. Additionally, it's worth noting that the Indian Housing Finance market might see a 13-15% CAGR growth from FY23 to FY26, which could benefit the company.
*02:28: Why the IPO?*
India Shelter Finance Corporation Limited's IPO consists of an offer for sale and a fresh issue. The funds from the fresh issue will be utilised for future capital requirements and general corporate purposes. The shares will be listed on the NSE and the BSE.
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