Stay updated on the latest developments surrounding the India Shelter Finance Corporation IPO, as the three-day bidding process gains momentum.
The IPO, which opened for bidding on December 15, witnessed robust investor interest, with the issue being subscribed 1.5 times by the end of the first day. As of the second day, the subscription stands at 2.3 times, reflecting strong demand.
Investors have bid for 2.27 times the offered 1,79,10,449 equity shares, indicating an enthusiastic response to the housing finance company's public offering.
India Shelter Finance Corporation commands a grey market premium of Rs 170-175 per share, signaling a potential upside of 36% compared to the upper end of the price band. .
Specializing in housing finance, India Shelter Finance Corporation focuses on providing loans for various housing needs, including construction, extension, renovation, and property acquisition.
Analysts from IDBI Capital recommend subscribing to the IPO for the long term, citing the company's robust underwriting process, demonstrated track record of reducing borrowing costs, and AUM growth of 40.8% CAGR between FY2021 and FY2023.