Home First shares gain 23% in intra-day trade before ending flat on debut

Stock touched a high of Rs 640 and a low of Rs 522 on the NSE, where Rs 1,445 cr worth of shares changed hands; issue price was Rs 518

Shares of Home First Finance Company India ended at Rs 527.4, with a gain on less than 2 per cent over its issue price of Rs 518 during their stock market debut on Wednesday. The stock, however, gained as much as 23 per cent in intra-day trade. It touched a high of Rs 640 and a low of Rs 522 on the NSE, where Rs 1,445 crore worth of shares changed hands. Home First’s Rs 1,150-crore IPO last month had garnered 27 times subscription. The company, backed by private equity major Warburg Pincus, is mortgage lender focused on low and middle-income groups. At its last close, the Home First was valued at Rs 4,609 crore. Through the IPO, the company raised fresh equity capital of Rs 265 crore.

Brookfield REIT IPO subscribed 11% on Day 1

The IPO of Brookfield India Real Estate Trust (Reit) was subscribed 11 per cent on Wednesday, the first day of the issue. A day earlier, the company allotted shares worth Rs 1,710 crore to anchor investors at Rs 275 per unit. Brookfield Reit IPO comprises of Rs 3,800 crore of fresh fund raise and no secondary share sale. The IPO closes on Friday. This is the third Reit IPO in the domestic market after Embassy REIT in 2019 and Mindspace REIT in 2020.