HFFC IPO subscribed 26.57 times so far on last day

Home First Finance Company plans to utilise the net proceeds towards augmenting its capital base to meet its future capital requirements.

New Delhi: The initial public offer of Home First Finance Company India was subscribed 26.57 times so far on the last day of bidding on Monday.

The offer of the mortgage financier, which got fully subscribed on the first day itself on January 21, received bids for 41,42,65,488 shares against 1,56,20,948 shares on offer.

The category reserved for qualified institutional buyers (QIBs) was subscribed 52.63 times, non-institutional investors 38.82 times and individual retail investors 6.43 times.

The initial public offer (IPO) of Rs 1,153.71 crore, comprising a fresh issue of up to Rs 265 crore and an offer for sale of up to Rs 888.7 crore.

The price range for the offer has been fixed at Rs 517-518 per share.

The housing finance company had raised Rs 346 crore from anchor investors on Wednesday.

The company plans to utilise the net proceeds towards augmenting its capital base to meet its future capital requirements.

Axis Capital Limited, Credit Suisse Securities (India) Private Limited, ICICI Securities Limited and Kotak Mahindra Capital Company are the managers to the offer.

Shares of the company are proposed to be listed on the BSE and National Stock Exchange (NSE).

(PTI)