Home First Finance IPO:  Investment Rationale By ICICI Direct 
A couple speaks to an HDFC Bank Ltd. loan officer about a home loan at a branch in eastern Mumbai, India. (Photographer: Santosh Verma/Bloomberg News)

Home First Finance IPO: Investment Rationale By ICICI Direct 

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

Home First Finance is a Bengaluru based technology-driven affordable housing financier that targets customers in the low and middle-income group.

Loans for purchase or construction of homes comprises 92.1% of gross loan assets, as of September 30, 2020.

Salaried customers account for 73.1% and self-employed customers account for 25% of gross loan assets.

The company also offer other types of loans comprising loans against property, developer finance loans and loans for the purchase of a commercial property.

Gross loan assets have grown at a compound annual growth rate of 63.4% in FY18-20 to Rs 3,618 crores and Rs 3730 crore, as of 30 September 2020.

Click on the attachment to read the full report:

ICICI Direct Home First IPO Review.pdf

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