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Home First Finance IPO subscribed 27 times on the final day
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Last Updated: Jan 25, 2021, 05:59 PM IST
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Synopsis
The IPO proposed to raise Rs 1,153.71 crore which comprises a fresh issue of Rs. 265 crore and an offer for sale of Rs. 888.71 crore by promoters and existing investors and individual shareholders.
Agencies
The portion reserved for retail investors was subscribed 6.60 times while qualified institutional buyer (QIBs) and high networth individual category was subscribed 52.63 and 39.08 times respectively.
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The Rs 1,154 crore public issue of Home First Finance Company was subscribed 26.65 times on the final day of bidding on Monday.
A technology driven affordable housing finance company received bids of 41.43 crore shares against the offered 1.56 crore shares as per the exchange data. The portion reserved for retail investors was subscribed 6.60 times while qualified institutional buyer (QIBs) and high networth individual category was subscribed
Amidst Market Fall, Home First IPO sees stellar response; subscribed 27x on Final Day
Posted On: 2021-01-25 09:35:51 (Time Zone: Arizona, USA)
Home First Finance Company India Ltd, a technology driven affordable housing finance company catering to the lower and middle income group s housing finance needs, received bids of 41,42,65,488 shares against the offered 1,55,90,790 shares, as per the 5:00 pm data available on the bourses. The portion reserved for retail investors was subscribed 6.60 times. Qualified Institutional Buyer and Non-Institutional Investor category was subscribed 52.63 and 39.08 times respectively on Day 3 of the issue opening.
Brokerage houses such as Motilal Oswal, Angel Broking, Nirmal Bang, Ventura Securities, Choice,Canara Bank Securities and Insec were positive towards the IPO. The reports highlighted key strengths of the companies like focused digital adoption, ability to successfully identify new regions and grow business, driven growth by substant