Home First Finance gains nearly 4% on plans to raise Rs 99 crore – Economic Times

NEW DELHI: Shares of Home First Finance Company rose 3.5 per cent in Wednesday’s session as the housing finance firm said it plans to raise up to Rs 99 crore through issuance of bonds on a private placement basis.

The company’s share price rose to a high of Rs 763 as against the previous close of Rs 737 on the National Stock Exchange.

“A meeting of the committee of directors of the company is scheduled to be held on Monday, November 22, 2021,” the non-banking financial company said in a regulatory filing on Tuesday.

The fund-raising plan involves the issuance of secured, redeemable and taxable non-convertible debentures on a private placement basis in one or more tranches of Rs 99 crore, the company said.

The recent entrant on bourses reported strong earnings in the July-September quarter, with net profit rising on-year to Rs 44.87 crore as against Rs 14.33 crore a year ago.

Total income rose 34.3 per cent year-on-year (YoY) to Rs 146.16 crore in the previous quarter, while operating profit had registered an increase of 95.6 per cent to Rs 61.55 crore in the July-September period, up from Rs 31.47 crore a year ago.

Home First Finance posted a pre-tax profit of Rs 56.31 crore in Q2, substantially higher than Rs 17.57 crore a year ago.

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