Home First Finance Company will be finalizing the IPO shares allotment on January 29, as per the expected schedule by Bombay Stock Exchange.
The Home First Finance IPO went live on January 21, 2021, and was closed on January 25, 2021 having been subscribed a massive 26.66 times reflecting the high demand IPOs have come to have in the recent times.
The portion of the sale which is reserved for qualified institutional buyers was subscribed even more by 52.53 times while non-institutional investors’ subscribed 39 times. As per the company prospectus, the share is expected to lost on February 3, 2021.
Funds will be unblocked form the ASBA (Application Supported by Blocked Amount) account after the finalization basis of allotment which will happen on the 1st of February. The shares that will successfully pass allotment will get credited to the Demat (Dematerialized) accounts of eligible investors on day after.
The trading in equity shares will begin from February 3.
Home First is a high-tech housing finance comapany which focuses on affordable housing management. It was able to raise Rs 1,154 crore through its public issue that comprised a fresh issue of Rs 265 crore and an offer for sale of Rs 888.72 crore by promoters and investors.