India Shelter Finance IPO subscribed to 36.6 times on Day 3; QIB, NII portions see huge demand
Also Read: Zomato skyrockets 108% in 2023: A look at how other new-age stocks performed this year Moreover, the strong demand from the retail segment continued on the final day, with the subscription rate soaring to 9.79 times. Non-institutional investors also displayed significant interest in the offering, as the subscription in the segment reached 28.47 times. Overall, the IPO received bids for 65,59,44,390 shares on the final day as against the 1,79,10,449 shares available for subscription, translating into a subscription rate of 36.62 times.
Also Read: IREDA share price tanks 10% after gaining 100% since listing; here's why Through the issue, the company aims to raise ₹800 crore via the issuance of fresh equity shares, whereas existing shareholders and promoters are divesting stake worth ₹400 crore. This results in a total IPO size of ₹1,200 crore. The price band for the offer has been fixed at ₹469–493 per equity share, with a face value of ₹05 each.
The net offer is reserved for qualified institutional buyers at 50% of the total offer size, non-institutional investors at 15%, and retail investors at 35%. Also Read: DOMS IPO: Check out 10 key things to know from RHP before investing India Shelter Finance Corporation, a housing finance company regulated by the National Housing Bank ("NHB"), specialises in providing loans and advances for housing activities. The company caters to the housing finance needs of customers, focusing primarily on self-employed individuals.
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