India Shelter Finance, a company in the housing finance sector, is getting ready to launch its IPO.
The IPO will be available for investors to buy from next week, starting on Wednesday, December 13.
Investors have until December 15, 2023, to bid in this public issue, which is valued at Rs 1,200 crore. The company has set the price range for one share at Rs 469-493.
Big investors, also known as anchor investors, will have the opportunity to bid for shares on December 12.
The IPO consists of new equity shares worth Rs 800 crore and an offer for sale (OFS) worth Rs 400 crore.
The company has allocated half of the shares for qualified institutional buyers (QIBs), 35% for retail investors, and the remaining 15% for non-institutional investors.
The IPO follows the T+3 listing rule, which means that the shares’ allotment will be finalized by December 18.
Investors can bid for a minimum of 30 equity shares and in multiples thereafter.
GMP, or Gray Market Premium, represents the premium for a share in the gray market before it is officially listed.
Currently, the GMP for India Shelter Finance is zero, indicating that no keen investor has shown interest yet.
Kfin Technologies Limited is the registrar of this IPO, and the company plans to list it on both BSE and NSE.
Since the IPO follows the T+3 listing rule, it is anticipated to be listed on December 20.
