India Shelter Finance Corporation Ltd IPO

India Shelter Finance Corporation Limited was incorporated under the name Satyaprakash Housing Finance India Limited on October 26, 1998, as a public limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated October 26, 1998, issued by the Registrar of Companies, Madhya Pradesh at Gwalior. A certificate for commencement of business dated November 18, 1998, was granted to Satyaprakash Housing Finance India Limited by the Registrar of Companies, Madhya Pradesh at Gwalior. Further, a certificate of registration dated December 31, 2002, was granted to Satyaprakash Housing Finance India Limited by the National Housing Bank bearing registration number 02.0034.02 to carry on the business of a housing finance institution without accepting public deposits. Pursuant to the change of the name of the Company from Satyaprakash Housing Finance India Limited to India Shelter Finance Corporation Limited, as approved by its Shareholders pursuant to a special resolution dated May 13, 2010, the Company was issued a fresh certificate of incorporation dated July 8, 2010, by the Registrar of Companies, Madhya Pradesh and Chhattisgarh at Gwalior. A certificate of registration dated September 14, 2010 was granted to the Company by the NHB bearing the registration number 09.0087.10 to carry on the business of a housing finance institution without accepting public deposits.

The housing finance sector of India comprises public sector banks, private sector banks, housing finance companies, non-banking financial companies and other players. The overall size of the affordable housing finance market in India in terms of loan outstanding was around Rs.11.5 trillion as of March 2023, constituting around 37% of the overall housing finance market. The Indian housing finance market recorded a CAGR of approximately 13.5% (growth in loan outstanding) over the financial years 2019-2023 on account of a rise in disposable income, healthy demand, and a greater number of players entering the segment.

India Shelter Finance Corporation Limited is a retail focused affordable housing finance company with an extensive distribution network comprising 203 branches as of September 30, 2023 and a scalable technology infrastructure across its business operations and throughout the loan life cycle. Between Financial Year 2021 and Financial Year 2023, The Company witnessed a twoyear compounded annual growth rate (CAGR) growth of 40.8% in terms of assets under management (AUM). Its target segment is the self-employed customer with a focus on first time home loan takers in the low and middle income group in Tier II and Tier III cities in India. This helps in generating relatively high yields on advances.