Home First Finance Company India IPO
Home First Finance Company India IPO — date, price band, lot size & details 2021
Home First Finance Company India listed on 3 Feb 2021 at ₹618.8, 19.5% above the ₹518 issue price.
Home First Finance Company is an affordable housing finance company that lends mainly to first-time home buyers in low and middle income groups. Its gross loan assets were Rs 3,730.01 crore on 30 September 2020.
Stock price
Home First Finance Company India is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 10 November.
- Open 21 Jan 2021
- Close 25 Jan 2021
- Allotment 29 Jan 2021
- Refund/credit 01 Feb 2021
- Listing 03 Feb 2021
Issue summary
The terms of the offer, as filed.
| IPO Dates | 21 to 25 Jan, 2021 |
|---|---|
| Price Band | ₹517 – ₹518 |
| Face Value | ₹2 |
| Lot Size | 28 Shares |
| Issue Size | ₹1153.72 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 14,504 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 28 shares at the ₹518 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 28 | ₹14,504 |
| Retail (max) | 13 | 364 | ₹1,88,552 |
| S-HNI (min) | 14 | 392 | ₹2,03,056 |
| S-HNI (max) | 68 | 1,904 | ₹9,86,272 |
| B-HNI (min) | 69 | 1,932 | ₹10,00,776 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 6
- 01Gross loan assets grew at a CAGR of 63.4% between FY2018 and FY2020.
- 02Gross loan assets rose from Rs 1,355.93 crore on 31 March 2018 to Rs 3,730.01 crore on 30 September 2020.
- 03Total income rose from Rs 134.24 crore in FY2018 to Rs 419.66 crore in FY2020.
- 04Profit after tax rose from Rs 16.00 crore in FY2018 to Rs 79.25 crore in FY2020.
- 05Net worth grew from Rs 325.22 crore on 31 March 2018 to Rs 988.19 crore on 30 September 2020.
- 06Housing loans made up 92.1% of gross loan assets, so the book is focused on its core product.
Risks · 6
- 01The P/E was 53.79 at the upper band of Rs 518, based on pre-issue EPS of Rs 9.63.
- 02Rs 888.72 crore of the Rs 1,153.72 crore issue was offer for sale, so most of the money went to selling shareholders.
- 03Total borrowing was Rs 2,636.58 crore on 30 September 2020, so the lender depends on steady access to funding.
- 04Borrowers are mainly low and middle income first-time buyers, who are more exposed to income shocks. The book had 44,796 active loans on 30 September 2020.
- 05Lending is concentrated in a few states, with 70 branches across 11 states and a union territory.
- 06Promoter holding fell from 52.85% before the issue to 33.7% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Home First Finance Company India offer document.
| Metric | 30 Sep 2020 | 31 Mar 2020 | 31 Mar 2019 | 31 Mar 2018 |
|---|---|---|---|---|
| Assets | 3,722.20 | 3,479.61 | 2,482.01 | 1,364.94 |
| Total Income | 243.19 | 419.66 | 270.92 | 134.24 |
| Profit After Tax | 52.95 | 79.25 | 45.20 | 16.00 |
| EBITDA | 185.55 | 308.35 | 196.32 | 92.70 |
| NET Worth | 988.19 | 933.64 | 523.14 | 325.22 |
| Reserves and Surplus | 972.51 | 917.98 | 510.47 | 314.89 |
| Total Borrowing | 2,636.58 | 2,493.81 | 1,925.64 | 1,019.88 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Home First Finance Company India RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Home First Finance Company India IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹9.63 | ₹12.12 |
| P/E Ratio (x) | 53.79 | 42.74 |
| Market Cap at Offer Price (₹ Cr) | ₹2,848.19 | ₹2,263.04 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹518 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹314.06 Cr of the issue is earmarked to named objects.
About the company
The company also offers loans against property, developer finance and loans to buy commercial property. It gets leads through connectors, contractors, architects and affordable housing developers, and uses its own technology and mobile app to process loans.
On 30 September 2020 it had 70 branches across 60 districts in 11 states and a union territory, with a key presence in Maharashtra, Karnataka, Tamil Nadu and Gujarat. It serviced 44,796 active loans on that date.
The IPO was Rs 1,153.72 crore, with Rs 265.00 crore of fresh issue and Rs 888.72 crore of offer for sale. The fresh money was meant to strengthen the capital base for future lending. The promoters are True North Fund V LLP and Aether (Mauritius) Limited.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Home First Finance Company India IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Axis Capital
71 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
ICICI Securities
65 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Kotak Mahindra Capital Company Limited
49 issues handledBest listing: G R Infraprojects (+105.0%). Weakest: Rategain Travel Technologies (-15.3%).
Credit Suisse Securities (India) Pvt. Ltd
6 issues handledBest listing: Zomato (+52.6%). Weakest: Star Health and Allied Insurance Company (-6.1%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Home First Finance Company India?
The current Grey Market Premium is ₹120, or 23% over the issue price.
What is the Home First Finance Company India IPO price band?
₹517 to ₹518, on a face value of ₹2.
When is the allotment?
The basis of allotment is 29 January 2021, with listing on 3 February 2021.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
