The India Shelter Finance has filed draft papers with market regulator Securities and Exchange Board of India (SEBI) to raise Rs 1,800 crore by the means of initial public offering.

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CNBC-TV18 reported that India Shelter Filing was filing an IPO DRHP on August 4.

#CNBCTV18Exclusive | Westbridge backed India Shelter Finance likely to file IPO DRHP with #SEBI. India Shelter Finance likely to raise around ₹1,800-2,000 cr via IPO, likely to be a combination of fresh issue & OFS: Sources to @YashJain88

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— CNBC-TV18 (@CNBCTV18Live) August 4, 2023

The issue will be a combination of fresh issue of Rs 1,000 crore and OFS worth Rs 800 crore being sold by investors including Madison, Nexus Ventures, Catalyst Trusteeship, and MIO Starrock.

The promoters WestBridge Crossover Fund LLC holds 24 percent stake in the company, while Aravali Investment Holdings has 31.4 percent stake. Nexus Ventures III Ltd holds 22 percent shareholding, Nexus Opportunity Fund II 6.4 percent, Catalyst Trusteeship 5.3 percent, MIO Starrock 4.9 percent, and Madison India Opportunities IV 1.4 percent.

ICICI Securities, Citigroup Global Markets India, Kotak Mahindra Capital Company, and Ambit will be the merchant bankers for the issue.

The Gurugram-based company will use the fresh issue proceeds from the public issue for future capital requirements towards onward lending, and general corporate purposes, while the offer for sale money will go to selling shareholders.

First Published:Aug 6, 2023 2:39 PM IST