Home First Finance Company shares list at nearly 20% premium over issue price

Shares of Home First Finance Company made a decent stock market debut on Wednesday. The stock listed at Rs 618.80 on the NSE, up 19.45% from its issue price of Rs 518. On the other hand, the scrip listed at Rs 612.15 on the BSE.

Earlier, the initial public offer of the company was subscribed 26.66 times on the last day of bidding on January 25. The offer of the mortgage financier, which got fully subscribed on the first day itself on January 21, received bids for 41,64,36,944 shares against 1,56,20,948 shares on offer, according to data available with the NSE.

The category reserved for retail investors was subscribed 6.59 times, qualified institutional buyers(QIBs) 52.53 times and non-institutional investors 39 times.

The initial public offer (IPO) of Rs 1,153.71 crore, comprised a fresh issue of up to Rs 265 crore and an offer for sale of up to Rs 888.7 crore. The price range for the offer was at Rs 517-518 per share.

The housing finance company had raised Rs 346 crore from anchor investors on Wednesday.
The company plans to utilise the net proceeds towards augmenting its capital base to meet its future capital requirements.

Axis Capital Limited, Credit Suisse Securities (India) Private Limited, ICICI Securities Limited and Kotak Mahindra Capital Company were the managers to the offer.

In another listing on Tuesday, shares of Indigo Paints also made a stellar debut and jumped nearly 110% at close of trade against its issue price of Rs 1,490.