Offers a discount of Rs.16 on the issue price to eligible employees

Repco Home Finance Ltd., a housing finance company promoted by government-owned Repco Bank Ltd., is approaching the capital market to raise resources for business expansion.

The company is making a public issue of 15,720,262 equity shares of the face value of Rs.10 each through a 100 per cent book-building process. The price band has been fixed in the range of Rs. 165-172 per share.

The issue includes a reservation of 180,000 equity shares for subscription by eligible employees. The company is offering a discount of Rs.16 on the issue price to eligible employees.

The issue will open on March 13, and close on March 15. Bids can be made for a minimum of 75 equity shares and in multiples of 75 thereafter.

Repco Home Finance Managing Director R. Varadarajan said post-issue, the promoter’s holding would come down to 75 per cent. “There is no offer for sale. We will be issuing fresh shares,” Mr. Varadarajan said.