Home First Finance plans IPO to raise up
Home First Finance Co (HFFC), a mortgage financier backed by True North and Singapore’s sovereign wealth fund GIC, is looking to list shares locally in an initial public offering that seeks to raise up to Rs 1,500 crore. The draft red herring prospectus (DRHP) for the share sale at the home financie
Published -
Nov 25, 2019 3:53 AM
Home First Finance Co (HFFC), a mortgage financier backed by True North and Singapore’s sovereign wealth fund GIC, is looking to list shares locally in an initial public offering that seeks to raise up to Rs 1,500 crore. The draft red herring prospectus (DRHP) for the share sale at the home financier, backed by the bulgebracket global funds, could be filed as early as next week, three people familiar with the plan said. Axis Capital, Credit Suisse, ICICI Securities and Kotak Mahindra have been appointed by the company for the share sale. The IPO will be a mix of capital raising and an offer for sale, allowing True North and GIC along with Bessemer Venture Partners to partially exit their respective investments in the company. True North (44 per cent), GIC (30 per cent) and Bessemer (16 per cent) together hold 90 per cent stake in the company and may sell some part of their shares depending on the valuations on offer, these people said.
Tags : News/Views Home First Finance Co Axis Capital ICICI Securities Kotak Mahindra