Home First raises ₹346 crore from 25 anchor investors ahead of IPO

Global PE firm Warburg Pincus-backed Home First Finance Company India Ltd (HFFC) has raised ₹346 crore from 25 anchor investors, ahead of its Initial Public Offering (IPO) which opens on Thursday.

The company allocated shares at ₹518 a share to anchor investors, while it allotted 66.82 lakh shares to anchor investors, it said in a regulatory filing.

Nomura was the largest investor among foreign institutions, buying 9.5 per cent of the anchor investor portion for ₹33 crore, while Fidelity International picked up 7.2 per cent of the shares for ₹25 crore. Morgan Stanley IM, Buena Vista and TT International picked up 5.8 per cent for ₹20 crore each.

Among the domestic institutions ICICI Prudential Mutual Fund, Birla Mutual Fund and Nippon Mutual Fund picked up 8.1 per cent of shares on offer for anchor investors for ₹28 crore each.

HFFC is backed by marquee shareholders such as True North, Government of Singapore, Bessemer Venture Partners and Warburg Pincus.

The company’s IPO will close on Monday, January 25.

Also Read: Home First Finance sets IPO price band of ₹517-518 per share

Also Read: Warburg ups stake in Home First Finance to 30.62%