The third IPO offer of January 2021 opens today. The five day subscription window will remain open until January 25, 2021.
Home First Finance IPO becomes the third initial public offering to debut the market in the first month of 2021. The other two companies were PSU NBFC Indian Railway Finance Corporation and Indigo Paints. Three IPOs launching back-to-back have sent the market temperature soaring in cold January.
After the stellar performance by the IPO segment in the pandemic-hit market of 2020, investors and experts alike have high expectations from these offers.
Home First Finance is a technology-driven home finance company that offers affordable loans to the low and medium-income group. It targets first-time homebuyers, has a strong presence in its domain. As of September, the company has 70 branches spread across 60 districts in 11 states with a strong presence in the urbanised areas of Maharashtra, Tamil Nadu, Karnataka, and Gujarat; Gujarat contributing maximum 39 percent to gross loan asset of the company.
If we look at the company’s financials, it had booked a PTA of Rs 529.53 million in September 2020.
The company primarily offers home buying and construction loans, which contributed 92.1 percent of its gross loan asset per reports of September 2020. It has serviced 44, 796 active loan accounts till September 2020, whereas its total borrowing stood at Rs 2,636. 58. ICRA has revised its rating for HFFC from A- in 2017 to A+ after strong growth rate. Its gross loan asset has grown at a CAGR of 63.4 percent between FY18 and FY20.
Apply for Home First Finance IPO through Angel One.
Don’t have a Demat? Apply Now!
Enjoy Zero Brokerage on Equity Delivery
Join our 1.75 Cr+ happy customers
Enjoy Zero Brokerage on