India Shelter Finance listed with 26 percent premium, investors get so much benefit
India Shelter Finance: Today the stocks of India Shelter Finance have been listed in the stock market. The company's IPO received a very good response from investors. Today the company's shares got listed on BSE and NSE. Investors have received a very good response from the company's shares. Let us know about it in detail in this report. Read the full news.
Shares of India Shelter Finance Corporation Limited have been listed in the market today. The company's shares were listed at a premium of about 26 per cent over the issue price of Rs 493. Let us tell you that the company's IPO has received a very good response from investors.
The company's stock made its debut at Rs 612.70, up 24.27 per cent from the issue price on BSE. After this, it rose by 26.77 per cent to Rs 625. The company's shares were listed at Rs 620 on NSE with a jump of 25.76 per cent.
The market valuation of the company during today's morning trade stood at Rs 6,236.26 crore.
The company's IPO received a very good response from investors. It received 36.62 times subscription on the last day of the IPO on Friday. The company had offered a fresh issue of up to Rs 800 crore and OFS of Rs 400 crore. The price band of this IPO was Rs 469-493 per share.
The company will use the funds raised from the IPO to provide loans and meet general corporate purposes.
India Shelter Finance, backed by Westbridge Capital and Nexus Venture Partners, has a large network. It is a retail-focused affordable housing finance company. The company's target segment is self-employed customers, with a focus on first-time home loan borrowers in low and middle-income groups in Tier-II and Tier-III cities in India.
