Home First Finance shares jump 4% on launching QIP to raise up to ₹1250-cr

Home First Finance Company shares rose 4.4 per cent in trade on Wednesday, April 9, 2025, logging an intraday high at ₹1,032 per share on BSE. The buying on the counter came a day after the company launched its qualified institutional placement (QIP) to raise funds up to ₹ 1,250 crore. 

 

Around 9:36 AM, Home First Finance share price was up 2.68 per cent at ₹1,014.9 per share on BSE. In comparison, the BSE Sensex was down 0.44 per cent at 73,902.89. The market capitalisation of the company stood at ₹9,139.74 crore. The 52-week high of the stock was at ₹1,383.05 per share and the 52-week low was at ₹777 per share.

 

 

The floor price of the QIP was set at ₹1,019.25 per share which implies 3 per cent premium over Tuesday's closing at ₹988.45 per share on BSE. 

 

"We wish to inform you that pursuant to the approval of the board of directors of the company, at its meeting held on January 28, 2025, and pursuant to the special resolution dated March 13, 2025, passed by the shareholders of the company through postal ballot approving issue of equity shares through a qualified institutions placement for such amount aggregating up to ₹ 1,250 crore," the filing read. 

 

The company's board approved fund raising by the way on QIP in January. 

 

In pursuance of the Company's ongoing growth and continuous expansion of the loan portfolio and asset base, additional capital is required to meet future business goals. In this regard, the board has approved, subject to the approval of the members of the company by way of Postal Ballot and subject to necessary regulatory/statutory

approvals, as may be required, raising of funds by way of issuance of equity shares to Eligible Investors through QIP or through any other permissible mode or any combination thereof, as may be permitted under applicable law, in one or more tranches, for an aggregate amount not exceeding ₹ 1250,00,00,000/- on such terms and conditions as it may deem fit," the filing read. 

 

Home First Finance Company is a financial services company that primarily offers home loans, including loans for home purchases, refinancing, and home equity products. It focuses on providing accessible and customer-friendly financial solutions, particularly for individuals looking to buy their first home or refinance their existing mortgage.

 

In the past one year, Home First Finance shares have gained 16 per cent against Sensex's rise of 1 per cent.