Home First Finance
IPO Size
`1153.72 Cr
Price Band
`517-518 Per Share
Minimum Lot Size
28 Share
Face Value
`2 Per Share
Employee Discount
NA
Retail Allocation
35%
Issue Open Date
21 Jan 21
Issue Close Date
25 Jan 21
Listing Date
IPO Size
Price Band
Minimum Lot Size
Face Value
Employee Discount
Retail Allocation
Issue Open Date
Issue Close Date
Listing Date
Initially funded by Bessemer Venture Partners, Home First Finance was incorporated in 2010. The company started its operations from Gujarat and Tamil Nadu in 2012. Housing Finance lender approved its 1,000 loans in 2013 and since then it as not looked back. Currently, the major lender is having a customer base of 29,000 leads. The company has spread its network in PAN India through 60 branches. Asset under Management of the company has crossed $35 billion. With the inculcation of modern technology, the company offers quick and transparent loans through mobile app. The private lender primarily caters low and middle income groups by offering them housing loans to construct and buy homes. The lender offers other loans like loans against property, developer finance loans, and loans to buy commercial property.
| S.No. | 1 - Company | 2 - Directors | 3 - Promoters | |||
| Entity Name | By the Company | Against the Company | By the Director | Against the Director | By the Promoter | Against the Promoter |
| Criminal cases | 15.94 | - | - | - | - | - |
| Material civil cases | - | - | - | - | - | - |
| Taxation matters | - | 5.38 | - | - | - | - |
| Regulatory Procedings | - | 0.02 | - | - | - | - |
| Amt. (In Million Rs.) | 15.94 | 5.40 | - | - | - | - |
| Income Statement (In Millions.) | Mar'20 | Mar'19 | Mar'18 |
| Interest Earned | 3,547.33 | 2,319.25 | 1,299.58 |
| Other Operating Income | 439.07 | 279.51 | 21.34 |
| Other Income | 210.17 | 110.45 | 21.45 |
| Total Income | 4,196.57 | 2,709.21 | 1,342.37 |
| Interest Expended | 1,938.28 | 1,265.44 | 659.64 |
| Net Interest Income | 2,048.12 | 1,333.32 | 661.28 |
| Operating expenses | 1,020.44 | 718.68 | 411.29 |
| Total Expenses | 2,958.72 | 1,984.12 | 1,070.93 |
| Provisions and Contingencies | 165.02 | 73.13 | 28.74 |
| Operating Profit before Provisions and Contingencies | 1,072.83 | 651.96 | 242.70 |
| Taxes | 280.34 | 199.91 | 82.74 |
| Net Profit for the Year | 792.49 | 452.05 | 159.96 |
The promoters of the company are True North Fund V LLP and Aether (Mauritius) Limited.
In the listed space, the company will face tough competition from Aavas Financiers, Can Fin Homes Limited, GIC Housing Finance Limited, Gruh Finance, LIC Housing Finance and Repco Home Finance.
The object of the Offer for Sale is to allow the shareholders to sell an aggregate of up to 1,71,56,756 equity Shares held by them. The company will not receive any proceeds from the Offer for Sale. Offer for Sale Size is of 10.7 million equity Shares aggregating up to ₹888.72 Cr (at an upper price band of Rs. 518).
The company has planned to raise fresh capital comprising an aggregate of 51,15,830 equity shares having Face Value ₹2 aggregating up to Rs. 265 Cr at the upper price band of Rs. 518. The net proceeds will be utilized for increasing the capital base of the firm considering the future requirements.