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Ahead of the listing, the company's shares traded at a premium of Rs 157 in the unlisted market. At the upper price band, the company is valued at a P/BV of 2.4X with a market cap of Rs 5278 crore post the issue.
The net proceeds from the issue of fresh equity issue will go towards meeting future capital requirements and general corporate purposes.
India Shelter Finance boasts strong fundamentals built on years of experience in the affordable housing market. The company has a diverse portfolio and strong distribution network, catering to the growing demand for quality and affordable homes.
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“The company has demonstrated consistent financial performance with a track record of revenue and profit growth. Investors may consider booking profit on the listing. However, long-term investors may hold it by keeping a stop loss. A fresh buy will not be suggested,” said Shivani Nyati, Head of Wealth, Swastika Investmart.
The company is a retail-focused affordable housing finance company with an extensive distribution network and a scalable technology infrastructure. Between FY21 and FY23, it witnessed a two-year CAGR growth of 40.8% in terms of assets under management (AUM).Inox India IPO: Listing expected on Thursday. What GMP signals ahead of debut
The company offers home loans up to Rs 50 lakhs to urban households for construction, extension, renovation and purchase of new homes. It has one of the fastest-growing AUM among housing finance companies in India, high yields and a granular, retail-focused portfolio.
India Shelter Finance has recorded 32% year-on-year growth in its total income at Rs 606 crore for the financial year ended March 2023. Profit for the same period rose 21% to Rs 155 crore.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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