IndiaShelter Home Loans, a Gurugram-based non-banking financial company, is gearing up for an initial public offering (IPO) in December, aiming to raise ₹1,800 crore. The offering will include a sale of shares worth ₹800 crore by existing shareholders. The company's IPO pricing and other details are currently being finalized by an assembly of lead managers comprising ICICI Securities, Citigroup Global Markets Company, Kotak Mahindra Capital, and Ambit Private Ltd., with KFin Technologies appointed as the registrar.
The firm's promoters, WestBridge Crossover Fund and Aravali Investments Holdings, hold significant stakes of 24% and 31.4%, respectively. A group of selling shareholders includes Nexus Ventures III, Nexus Opportunity Fund II, Madison India Opportunities IV, MIO Starrock, and Catalyst Trusteeship. Additionally, founder Anil Mehta has retained a 1.7% stake in the company.
With a network spanning 15 states through 183 branches, IndiaShelter has carved out a niche by targeting the self-employed demographic with home loans and loans against property. The company has expressed intentions to further expand its reach following the IPO. IndiaShelter prides itself on its commitment to corporate governance, robust risk management frameworks, technological advancements, and high customer satisfaction levels.
For the fiscal year ending March 31, 2023, IndiaShelter reported a Profit After Tax (PAT) of ₹155.34 crore (INR100 crore = approx. USD12 million), marking an increase of 20.93% from the previous fiscal year. This growth is underscored by the company's total income for FY23 reaching ₹606.23 crore. Furthermore, the firm achieved a notable return on equity of 13.4% as of March 31, 2023.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.