Home First Finance Company offers low-cost, affordable housing financing. Housing loans are the main focus of this company, which targets lower- and middle-income individuals. With a presence in over 70 cities across 11 states, the company has deep penetration in the Indian housing finance market. It has numerous branches and connectors. This allows it to serve customers in different geographical regions, such as rural and urban areas. It is expanding its services.
The company’s IPO launch is scheduled for January 21. The company’s IPO will be January 2021’s third. Another IPO is Indigo Paints, which closes today. Home First’s three-day public offering is due to be completed on January 25. Kotak Mahindra Capital Company and Axis Capital are leading the IPO. Credit Suisse Securities (India) is also involved. The firm’s AUM increased by 45 percent between FY18 and FY21.
Home First Finance Co. in India is a mortgage finance company. Mortgage loans are the company’s main product. Additionally, the company offers home loans to salaried and unemployed professionals. The company offers a range of products, including balance transfer and top-up home loans for borrowers with bad credit. It also offers commercial loan financing. Whether you are looking for a new home or a better one, HomeFirst Finance Co. is the way to go.
The Home First Finance Company’s IPO offers investors a unique opportunity to get in on the ground floor of a new mortgage lender. Founded in 2010, the company has grown by 45 percent since its inception. Investing in HomeFirst Finance Co.’s IPO enables existing investors to partially exit their investments and founder PS Jayakumar to benefit from the high-growth environment in the Indian mortgage lending market. It is valued at approximately $4 billion as of the second quarter of FY22.
With its aggressive growth strategy and strong focus on its customer base, Home First Finance beats expectations. The company achieved a 40 percent CAGR in its AUM from FY18 to FY21. Company has strong presence in Maharashtra & Gujarat due to its significant number of salaried employees. The company’s technology-driven business model allows it to reach a wide range of customers. The strategy has its downsides.
Home First Finance Company was a major success with its initial public offering. It has been a key player in Indian mortgage loans market. This company is steadily growing with an AUM of over Rs46.2billion. This was the first IPO since its inception. This IPO has been going strong for 10 years. These shares have a current value of approximately $2.3 Billion due to their success at the IPO.
Investors still have a lot to gain from the company’s low cost structure and size. Investors who are looking for a great interest rate will love the low rate offered by this firm. The company also offers excellent customer service. Home First Finance Co’s products are both affordable and easily scalable. This makes it an attractive option for homebuyers who have never had to buy a house before. It is located in a great location and Home First Finance Co has attracted global customers.
True North began coverage on the Mumbai-based home financing company. Home First Finance is a great risk-reward investment opportunity. The company’s focus is on homebuyers first and households with lower and middle incomes. More than 90% of the company’s portfolio is in the mortgage market. HomeFirst Finance not only offers mortgage loans but also provides many types of financing such as senior citizen loans or shop loans.
Home First Finance achieved results that were beyond expectations in Q2FY22. It reduced its credit costs by 30bps and increased its NIM by 10bps, offsetting higher opex. Although Stage-3 assets declined by 130bps QoQ overall, delinquency in the aggregate was lower than one-percent. By December 2020, company collections had increased to 97 per cent. The bounce rate can rise in the short term and cause a spillover to FY22. The company expects bounce rates to stabilize and increase RoA. The Covid lockdown will slow funding costs moderation and have an adverse effect on growth.