Incorporated in 2010, Mumbai-based, Home First Finance Company is an affordable housing finance company that mainly caters to the low and middle-income groups by offering them housing loans to construct and buy homes.
The company also provides other loan options such as loans against property, developer finance loans, and loans to buy commercial property. It has a diverse lead generation source channel including connectors, contractors, architects, affordable housing developers, and others.
The company operates a network of 65 branches covering over 60 districts in 11 states and a union territory in India. Also, the company has a significant presence in the urbanized regions of Gujarat, Maharashtra, Karnataka, and Tamil Nadu and has sanctioned over 50,000 home loans.
The company has received SEBI’s approval for an initial public offering in March last year, but the coronavirus pandemic led to the delay in its plans. Private equity fund Warburg Pincus(WP) holds a 30.62% stake in the company.
As of 30/09/2019, Home First Finance currently has an A+(stable) rating from ICRA Limited.
Axis Capital, Credit Suisse Securities (India) Pvt Ltd, ICICI Securities, and Kotak Mahindra Capital Company are the book running lead managers to the issue.
Objectives of Home First Finance Company IPO:
- To augment the company’s capital base to meet the future capital requirement
- To achieve share listing benefits on the exchange