Chennai-headquartered
Repco Home Finance, housing finance subsidiary of Repco Bank, a Government of
India owned cooperative bank, is planning to raise up to Rs. 270.04 crore
through an initial public offering (IPO), to support its growth. The price band
will be between Rs. 165 and Rs. 172 a share.
Repco Home Finance
will net Rs. 259.05 crore at the lower end and Rs. 270.04 crore at the upper
end of the price band.
The IPO will open on
Wednesday - March 13 and close on March 15, 2013.
Repco Home Finance plans
to grow 30 % year-on-year for the next 3 years.
Mr.R. Varadarajan,
Managing Director, Repco Home Finance said, '' According to the National Housing
Bank (NHB) - the regulator for home finance firms - the housing finance
industry is expected to grow by 18% in the current financial year (2012-13).
Tier-II and tier-III markets are attractive as they are largely under-served by
banks and housing finance companies. so, We are focusing on tier-II and
tier-III centres for growth and our strategy will be the same for the coming
years"
 |
| R. Varadarajan, Managing Director, Repco Home Finance |
SBI Capital Markets,
IDFC Capital, and JM Financial Institutional Securities are the merchant
bankers (intermediaries involved in helping the company raise money from the
public) to the issue.
Karvy Computershare
is the registrar. Private equity firm Carlyle Group held 23.75% stake in the
firm at the time of filing the issue documents.
Repco’s capital
adequacy ratio is high at 15.94%. Its outstanding loan portfolio has grown at a
compounded annual growth rate (GAGR) of 43.81% in the last 4 years to reach Rs.
2,802 crore as of March 2012, while its
net non-performing asset (NNPA) ratio
stood at 1.60% as of September 2012. The companyhad reported a net profit of
Rs. 35.6 crore at the end of the September quarter, 2012.
Contact:
REPCO HOME FINANCE
LIMITED
"Corporate
Office" , Karumuttu Centre
Second Floor - North
Wing Old No : 498, New No : 634
Anna Salai, Nandanam,
Chennai - 600 035
Ph : 044 - 4210
6650 Fax : 044 - 4210 6651
Mobile : 94443 94918
E-mail :
co@repcohome.com
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