Affordable housing finance company India Shelter Finance has filed preliminary papers with capital markets regulator Securities and Exchange Board of India to raise Rs 1,800 crore through an initial public offering.
The IPO comprises a fresh issue of equity shares worth Rs 1,000 crore and an offer for sale of Rs 800 crore by investor shareholders, according to the draft red herring prospectus filed on Friday.
Those offering shares in the OFS include Catalyst Trusteeship Ltd., Madison India Opportunities IV, MIO Starrock, Nexus Ventures III Ltd., and Nexus Opportunity Fund II Ltd.
Proceeds of the fresh issue will be used to meet future capital requirements towards onward lending and for general corporate purposes.
India Shelter Finance, which is backed by Westbridge Capital and Nexus Venture Partners, is a retail-focused affordable housing finance company with an extensive distribution network and technology infrastructure.
India Shelter Finance's target segment is self-employed customers with a focus on first-time home loan takers in the low and middle-income groups in Tier II and Tier III cities in India.
ICICI Securities, Citigroup Global Markets India, Kotak Mahindra Capital Company, and Ambit have been appointed as the book-running lead managers to manage the IPO.
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