The indicative price range is said to be between ₹1,143 to ₹1,202 per share, an up to 4.9% discount from its previous closing price.
At the end of the June quarter, Orange Clove Investments BV, held 10.64% stake in the company, as per data available on the stock exchanges.
Home First Finance reported its first quarter earnings last month. Its net profit increased 35.5% to ₹118.8 crore from ₹87.7 crore in the previous year. Its net interest income increased 32.8% to ₹194 crore from ₹146 crore in the previous fiscal.
The company’s assets under management increased 28.6% in the June quarter to ₹13,479 crore from the previous year.
Earlier this year, Home First Finance’s MD and CEO Manoj Viswanathan had told CNBC-TV18 that the company had set an AUM target of ₹35,000 crore to ₹40,000 crore by FY25, building on its steady growth in recent years.
In April this year, the company raised ₹1,250 crore via a qualified institutional placement (QIP), marking its first equity fundraise since its IPO in 2021.
Viswanathan had said the capital infusion would augment the company’s capital base and further strengthen its ability to expand its footprint, deepen customer engagement and deliver sustained value to all stakeholders.
Shares of Home First Finance ended the previous session 1.54% lower at ₹1,200.4 apiece. The stock has declined 13.4% in the past month.
