Shares of Home First Finance Company India Ltd jumped 7.58% to ₹1,139.30 on April 15 after the company successfully raised ₹1,250 crore through a qualified institutional placement (QIP) that garnered robust demand from global and domestic investors.
The affordable housing finance firm allotted 1.28 crore equity shares to qualified institutional buyers (QIBs) at ₹970 per share, a 4.83% discount to the SEBI-determined floor price of ₹1,019.25. Major investors included International Finance Corporation (IFC), Capital World, Fidelity Funds, and HDFC Mutual Fund. IFC alone picked up 27.84% of the QIP.
The strong response helped increase the company’s paid-up capital to ₹20.59 crore from ₹18.01 crore. Home First said the transaction underlines investor confidence in its growth potential and mission to expand affordable housing access in India.
Brokerage Investec maintained a Buy rating on the stock and raised its target price to ₹1,350 per share, citing positive momentum and continued investor trust.
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