Home First Finance Company India Limited (the "Company"), will open the Bid/Offer period in relation to its initial public offering of Equity Shares (the "Offer"/ "IPO") on Thursday, January 21, 2021 and close on Monday, January 25, 2021. The price band for the Offer has been decided at Rs. 517 - Rs. 518 per Equity Share. The Company and the Promoter Selling Shareholders may, in consultation with the book running lead managers (the "BRLMs"), consider participation by Anchor Investors which shall be one Working Day prior to the Bid/Offer Opening Date, i.e. Wednesday, January 20, 2021.
The Offer aggregating up to Rs. 11,537.19 million comprises of a fresh issue of up to Rs. 2,650 million and an offer for sale aggregating up to Rs. 8,887.19 million by the Selling Shareholders, being True North Fund V LLP ("True North") and Aether (Mauritius) Limited ("Aether") (collectively, "Promoters"), Bessemer India Capital Holdings II Ltd, an existing investor and certain individual shareholders of the Company.
The fresh issue portion of the Offer aggregates up to Rs. 2,650 million, excluding the pre-IPO placement of approximately Rs 750 million and Rs 40.84 million to Orange Clove Investments B.V (an affiliate of Warburg Pincus) and certain employees of the Company, respectively by way of preferential allotments. The Offer for Sale aggregates up to Rs 8,887.19 million; the breakup of which is as the follows: up to Rs. 4,356.15 million by True North, up to Rs. 2,912.83 million by Aether, up to Rs. 1204.61 million by Bessemer India Capital Holdings II Ltd. and up to Rs. 413.60 million by the two individual shareholders.
Axis Capital Limited, Credit Suisse Securities (India) Private Limited, ICICI Securities Limited and Kotak Mahindra Capital Company Limited are the BRLMs to the Offer.
The Offer is being made through the Book Building Process and in compliance with Regulation 6(1) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (the "SEBI ICDR Regulations"), wherein not more than 50% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers ("QIBs", the "QIB Portion"). Further, not less than 15% of the Net Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Net Offer shall be available for allocation to Retail Individual Bidders ("RIBs") in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price.