Home First Finance Company IPO to open for subscription on 21st January, Rs. 517-518 price band:
Home First Finance Company India: The initial public offer (IPO) scheduled to open for subscription on 21st January with a price range of Rs. 517-518, the face value is Rs. 2 each. Hence, the housing finance company headquartered in Mumbai will close on January 25th, 2021. However, a new issue of Rs. 265 crore and an offer-for-sale (OFS) of Rs. 888.72 crore. Promoters and existing shareholders are part of Rs. 1,153.72 crore problem. Home First Finance Company India shares were seen trading in the grey market today with a premium of Rs. 100 at Rs. 618 over the IPO price.
However, this will be the third IPO in 2021. As it is currently open for subscription to the Indian Railway Finance Corporation (IRFC) issue. And the initial public bid by Indigo Paints will open for subscription on January 20th, 2021. Moreover, AR Ramachandran, Co-founder & Trainer, Tips2Trade, told Financial Express Online with a clear growth trajectory, the financials of Home First Finance Company are very healthy.
Ramachandran advised investors to subscribe:
In the coming quarters, we believe the post-moratorium NPAs could spook investors, he said. In order to accumulate stocks from a long-term perspective, Ramachandran advised investors to subscribe only to listing profits and wait for lower levels.
As of September 2020, with a net worth of Rs. 988 crore and gross non-performing assets of 0.74 per cent, the company had an AUM of Rs. 3,730 crore. For the six-month period ended September 2020, HFFC posted a 44.1 per cent year-on-year profit growth at Rs. 52.95 crore, on a revenue of Rs. 88.2 crore, which grew by 36.9 per cent a year. Profit increased by 75.3 per cent to Rs. 79.25 crore in the 2019-20 financial year and sales soared 45.4 per cent to Rs. 151.27 crore compared to the previous year.