Home First IPO subscribed 2.2 times on substantial retail interest

Private equity major Warburg Pincus-backed Home First Finance’s IPO was subscribed 2.2 times on Friday. The retail portion of the issue was subscribed 3.4 times, while institutional investor portion was subscribed 1.4 times. The offer closes on Monday. Home First is looking to raise Rs 265 crore by issuing fresh equity. The issue also has a secondary share sale of Rs 889 crore. The price band for the IPO is Rs 517-518 per share. At the top end, Home First, a housing finance company focused on low and middle-income groups, will have a market cap of Rs 4,520 crore.