India Shelter Finance, a lending firm specializing in affordable housing, is gearing up to launch an Initial Public Offering (IPO) to fuel its growth.
Prominent investors such as Westbridge Capital and Nexus Ventures Partners have already made substantial investments in the company.
The IPO is expected to raise approximately Rs 2,000 crore, according to reliable sources close to Moneycontrol.
To facilitate the IPO, India Shelter Finance has engaged the services of renowned investment banks including ICICI Securities, Kotak Mahindra Capital, and Citi.
These trusted sources have also revealed that the company has demonstrated commendable performance in the affordable housing sector and maintains a strong asset quality.
In addition to the primary component, the IPO will also include an Offer for Sell (OFS), allowing some existing investors to divest their stakes in the company.
An anonymous source familiar with the matter stated, “The company’s gross and net non-performing asset (NPA) levels are impressive.
As competition in this sector intensifies, the company requires capital for further expansion.”
India Shelter Finance operates across 15 states, serving customers through a network of over 180 branches.
With a focus on catering to self-employed individuals, the company provides small loans against property and affordable home loans.
Their product portfolio includes financing options for new home purchases, home expansions, upgrades, construction loans, and loans against property.
Previously known as Satyaprakash Housing Finance India Limited, the company has a long-standing presence in the market, having offered financial assistance to over 60,000 families.
It received the Certificate of Registration from the National Housing Bank on October 26, 1998, and underwent a relaunch on March 12, 2010, under the name India Shelter Finance.
Moneycontrol has reached out to India Shelter Finance and Kotak Mahindra Capital for further details and is awaiting their response.
While ICICI Securities and Citi declined to comment, the platform remains committed to delivering comprehensive updates on this upcoming IPO.
