Winning Bizness Desk

Mumbai, March 3: Affordable Housing Finance focused Mortgage Financier, Home First Finance Company (HFFC), has received market regulator Securities and Exchange Board of India’s (SEBI) nod to raise Rs. 1500 crore through the Initial Public Offering (IPO) route. The company had filed DRHP with SEBI on November 28, 2019.

The IPO consists of fresh issue aggregating up to Rs 400 crore and an offer for sale of up to Rs 1100 crore by the selling shareholders. The equity shares, of face value Rs 2 each, will be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange) BSE.

True North Fund V LLP, Aether (Mauritius) Limited, Bessemer India Capital Holdings II Ltd, P S Jayakumar, Manoj Vishwanathan and Bhaskar Chaudhry are the promoter and investor selling shareholders

Further, the DRHP states that the company may consider a pre-IPO placement of up to Rs 160 crore in consultation with the Book Running Lead Managers (BRLMs). If the pre-IPO placement is undertaken, the amount will be reduced from the fresh issue.

The company intends to utilize the net proceeds towards augmenting its capital base to meet its future capital requirements, arising out of the growth of its business and assets and to receive the benefits of listing of the equity shares on the stock exchanges.