The scrip was listed at Rs 612.70, exhibiting a premium of 24.28% to the issue price.

So far, the stock has hit a high of 625 and a low of 567.60. On the BSE, over 6.31lakh shares of the company were traded in the counter so far.

The IPO of India Shelter Finance Corporation was subscribed 36.71 times. The issue opened for bidding on 13 December 2023 and it closed on 15 December 2023. The price band of the IPO was fixed at Rs 469-493 per share.

The offer comprised fresh issue of up to Rs 800 crore and an offer for sale of up to Rs 400 crore.

The promoters were not participating in the OFS. The promoter shareholding in the company would decline to 48.3% post- IPO from 56.9% pre-IPO.

The company proposed to utilize the net proceeds from the fresh issue towards augmenting the capital base to meet future capital requirements, arising out of the growth of business and assets. The company expects to receive the benefits of listing the equity shares on the stock exchanges, including to enhance brand image among existing and potential customers and creation of a public market for the equity shares in India.

India Shelter Finance Corporation is retail focused affordable Housing Finance Company (HFC). It has an extensive distribution network comprising 203 branches spread across 15 states which accounts for 94% of the affordable housing finance market in India. The employee base stands at 2997 employees across operations.

The company primarily finances the purchase and self-construction of residential properties by first-time home loan takers through home loans and offers loans against property (LAP).

The firm reported a net profit of Rs 107.35 crore and income from operations of Rs 320.01 crore for the six months ended on 30 September 2023.