India Shelter Finance shares list at 26% premium to IPO price; market cap above Rs 6,500 cr

Shares of India Shelter Finance Corporation Ltd made a strong market debut today, listing at a 26% premium over the IPO issue price. India Shelter Finance stock listed at Rs 620 on NSE, a premium of 25.76% over the IPO issue price of Rs 493. The stock listed at a premium of 24.28% at Rs 612.70 on BSE. Market cap of the firm stood at Rs 6559.02 crore on BSE.

The price band of India Shelter Finance stock IPO was Rs 469-Rs 493 apiece with a lot size of 30 shares. The issue was open for bidding between December 13 and December 15. 

The Rs 1,200 crore share sale comprised of a fresh issue of Rs 800 crore and an offer-for-sale (OFS) of up to 81,13,590 equity shares.

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The issue was subscribed 36.62 times on the last day.

The IPO received 36.71 times bids, with the quota reserved for qualified institutional bidders (QIBs) subscribed 89.70 times, non-institutional investors portion 28.51 times, and retail investors bidding 9.95 times bids.

India Shelter Finance Corporation, a prominent player in the housing finance sector, focuses on providing tailored loans for diverse housing needs, including Loans Against Property (LAP) ranging from Rs 5 lakh to Rs 50 lakhs, with flexible repayment tenures of up to 20 years.

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