Gurugram-based housing finance company India Shelter Finance Corporation, backed by major investors WestBridge Crossover Fund and Nexus Ventures, plans to launch its initial public offering (IPO) in December, according to Rupinder Singh, managing director and CEO of the company.
According to DRHP filed with SEBI, India Shelter Finance aims to raise around ₹1,800 crore through the IPO, which would be a mix of new shares and an offer for sale (OFS) from existing shareholders.
In an interaction with Fortune India, Rupinder Singh said that the company targets first-time home loan borrowers in Tier 2 and Tier 3 cities. “From the beginning, the focus was on supporting the self-employed and not the dependent employees in the lower and middle income segments with the aim of promoting financial inclusion.”
In line with its vision of financial inclusion, the company aims to empower women by ensuring that women are the first applicants for a majority of its loans, he says. “The company aims to help address issues arising from patriarchy in Indian society and provide women with a sense of security and independence.”
As of March 31, 2023, 97.5% of India Shelter’s loans had one or more female borrowers. Of these, more than 50% of women own real estate in their own name or jointly with others.
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