HFFC's IPO to open on January 21; price band at Rs 517-518 a share

The IPO aggregating up to Rs 1,153.71 crore comprises a fresh issue of up to Rs 265 crore and an offer-for-sale aggregating up to Rs 888.71 crore by promoters and existing shareholders, the firm said

Mortgage financier Home First Finance Company (HFFC) on Tuesday fixed a price band of Rs 517-518 a share for its initial share-sale, which will open for public subscription on January 21.

The IPO aggregating up to Rs 1,153.71 crore comprises a fresh issue of up to Rs 265 crore and an offer-for-sale aggregating up to Rs 888.71 crore by promoters and existing shareholders, the company said.

The offer-for-sale consists of shares worth Rs 435.61 crore by promoter True North Fund V LLP, Rs 291.28 crore shares by promoter Aether (Mauritius), Rs 120.46 crore by investor Bessemer India Capital Holdings II Ltd and up to Rs 41.3 crore by two individual shareholders — PS Jayakumar and Manoj Viswanathan.

The IPO would be open for subscription on January 21 and close on January 25.