Home First IPO subscribed 2.2 times on substantial retail interest

The retail portion of the issue was subscribed 3.4 times, while institutional investor portion was subscribed 1.4 times

Topics
Markets | IPOs

Samie Modak  |  Mumbai 

IPO
The offer closes on Monday

Private equity major Warburg Pincus-backed Home First Finance’s IPO was subscribed 2.2 times on Friday. The retail portion of the issue was subscribed 3.4 times, while institutional investor portion was subscribed 1.4 times. The offer closes on Monday. Home First is looking to raise Rs 265 crore by issuing fresh equity. The issue also has a secondary share sale of Rs 889 crore. The price band for the IPO is Rs 517-518 per share. At the top end, Home First, a housing finance company focused on low and middle-income groups, will have a market cap of Rs 4,520 crore.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Read our full coverage on Markets
First Published: Fri, January 22 2021. 18:35 IST
RECOMMENDED FOR YOU