The company’s IPO was launched on January 21. The company has raised Rs 1153.72 crore from it.
Home First Finance is a technology-based home finance company. On Wednesday, it was listed at Rs 618 on NSE and Rs 612.15 on BSE.
- Last Updated:February 3, 2021, 12:18 PM IS
The IPO of Home First Finance Company (HFFC), a Mumbai-based housing loan-giving finance company, was launched on January 21. The company has raised Rs 1153.72 crore through this IPO. For the IPO, the company had fixed the issue price of the shares at Rs 517-518 per share. The IPO was open for subscription from January 21 to January 25. Significantly, the company’s IPO issue was 26.66 times full. The issue was 6.59 times filled in the retail quota. The company has a market cap of Rs 4527 crore at an issue price of Rs 518. P / BV is 3.61 times the issue price.
63.4 percent growth on an annual basis
Home First Finance is a technology driven housing finance company. It focuses on the first time home buyers of low and middle income groups. The company mainly provides loans to its customers to build houses. As of September 30, 2020, the company’s debt loan asset accounted for 92.1 per cent of this segment’s debt. Between FY 2018-20, the company’s Gross Loan Assets has shown an increase of 63.4 percent on an annual basis. It increased from Rs 1,355.93 crore in March 2018 to Rs 3,730.01 crore by 30 September 2020. The company has a very good penetration in the housing finance market. The company has diversified channels to raise money. Apart from this, the company has an experienced management team which gives a very good edge to the company.Realty boom will benefit companies like Home First Finance
Gaurang Shah of Geojit Financial says that Home First Finance is a very good stock for investment from a long perspective. Companies like Home First Finance will benefit from the boom in the realty sector. With the improvement in economy, the purchasing power of people will increase. There are reports of increase in the purchase of houses in all the reports. The company will benefit from this.