Shares of Home First Finance Company India Ltd rose 5% following the launch of its qualified institutional placement (QIP). The housing finance firm has initiated the fundraising with a base issue size of ₹1,000 crore, which may be increased to ₹1,250 crore depending on investor demand.
The indicative price band for the QIP is set between ₹968.29 and ₹987.90 per share. This range represents a discount of up to 2% from the company’s last closing price. The transaction is expected to lead to an equity dilution of around 14.33% of Home First’s pre-issue capital.
Qualified institutional placements allow listed companies to raise capital without undergoing elaborate regulatory approvals, targeting institutional investors directly.
Motilal Oswal Investment Advisors, Kotak Mahindra Capital, and SBI Capital Markets are serving as the book-running lead managers (BRLMs) for the offering.
Home First Finance shares opened at ₹1,010.00 today, reaching a high of ₹1,048.00 and a low of ₹998.00 during the session. Despite recent fluctuations, the stock remains significantly above its 52-week low of ₹776.65. However, it still trades below its 52-week high of ₹1,383.30.
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