In a strategic move to enhance its financial structure, Home First Finance Company India Limited experienced a notable surge of nearly 3% in its stock value. This surge came in the wake of a significant development – the company’s Asset Under Management (AUM) witnessed a robust growth of 33% year-on-year, coupled with a Net Interest Margin (NIM) holding steady at 6%, a slight decrease from the previous quarter’s 6.1%.
Home First Finance Company India Limited recently declared the allocation of 7,996 additional equity shares, each with a face value of Rs. 2. This allocation was a result of the exercise of Employee Stock Options (ESOPs), a move sanctioned by the company’s Board of Directors during their meeting on October 26, 2023.
This issuance of new equity shares translates into a tangible expansion of the company’s financial landscape. The previously existing paid-up share capital of 8,81,72,052 equity shares, each valued at Rs. 2, now stands augmented at 8,81,80,048 equity shares. This increase equates to a total valuation of Rs. 17,63,60,096.
At 11:22 the shares of the company were trading 2.30% at ₹928.35
