India Shelter Finance, BLS E-Services file IPO papers with Sebi
India Shelter Finance Corporation and Delhi-based BLS E-Services filed draft papers with the market regulator Securities and Exchange Board of India (Sebi) for their initial public offers (IPOs). India Shelter Finance looks to raise Rs 1,800 crore via its IPO. The public offer comprises a fresh equity issue worth Rs 1,000 crore and an offer for sale (OFS) of Rs 800 crore.
Catalyst Trusteeship Limited, Madison India Opportunities IV, MIO Starrock, Nexus Ventures III and Nexus Opportunity Fund II will offload their holdings. The erstwhile Satyaprakash Housing Finance India (SHFIL) company was granted the certificate of registration in 1998. It was taken over by a group of professionals and a fresh certificate of registration was granted by National Housing Bank in 2010.
The company offers home loans of up to Rs 50 lakhs to urban households for construction, extension, renovation and purchase of new homes. The company has appointed ICICI Securities Limited, Citigroup Global Markets India Private Limited, Kotak Mahindra Capital Company Limited and Ambit Private Limited as Book Running Lead Managers (BRLMs). The net proceeds from the issue of fresh equity shares will go towards meeting future capital requirements and general corporate purposes.
Meanwhile, BLS E-Services Fresh in its draft red herring prospectus (DRHP) did not disclose the IPO size although the issue will comprise a fresh issue of 24,130,000 shares. BLS E-Services runs a web-enabled services portal to access various services provided by the Government and Service partners. The company claims to provide end-to-end integrated solutions to various services availed through this portal.
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