India Shelter Finance Corporation Ltd

India Shelter Finance Corporation Ltd was incorporated under the name Satyaprakash Housing Finance India Limited on October 26, 1998, as a Public Limited Company, pursuant to a Certificate of Incorporation dated October 26, 1998. 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. Pursuant to Change of the Name of Company from Satyaprakash Housing Finance India Limited to India Shelter Finance Corporation Limited, as approved by Shareholders, 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 Company by the National Housing Bank (NHB) to carry on the business of a housing finance institution without accepting public deposits.The Company is a retail housing finance company with a distribution network of 183 branches in the States of Rajasthan, Maharashtra, Madhya Pradesh, Karnataka and Gujarat and a scalable technology infrastructure. The Company has presence in states which cover nearly 94% of the affordable housing finance market in India. The Company leverage technology and analytics across the operations and throughout the customer life cycle including onboarding, underwriting, asset quality monitoring, collections and customer services.The Company has introduced a paperless approach to customer acquisition and onboarding, with mobile solutions in different stages of lending process. On these solutions, the iSales application integrates, streamlines and optimizes customer acquisition process whereas IndiaShelter iCredit application facilitates underwriting. Overall sales and productivity is enhanced while maintaining customer relationships combining digital solutions with personal interaction. The Company introduced IndiaShelter iServe application service, designed to address concerns and queries from the existing customers online.Apart from these, the Company has an integrated customer relationship management and loan management system set up on a cloudbased platform, providing with connectivity and access to real time information for customers. The IT systems allows them to increase productivity, reduce turnaround times and transaction costs. It has adopted the key aspects of lending operations includingcustomer acquisition, underwriting, collateral valuation, legal assessment, and collections. This allows the customers to directly connect with our customers, minimize turnaround times, increases customer retention, and mitigate the risk of fraudulent activities. The underwriting processes are customized to access creditworthiness of the low and middleincome segment and as a result, have developed data centric and iterative processes. The Company has different and separate verticals to underwrite customers creditworthiness, collateral legal verification, and collateral valuation which work in parallel and are independent to each other.In 2009, the Company was taken over by the Individual Promoter. In 2010, the Company started operations by opening the first branch in Rajasthan. In 2016, the Company opened first branch in Southern India in Karnataka State through expansion of geographical presence. In 2023, the Asset Under Management (AUM) crossed Rs 4,359.4 Crores. The Company is planning issuing Equity Shares aggregating upto Rs 1800 Crores, comprising Rs 1000 Crores Equity Shares through Fresh Issue and Rs 800 Crores through Offer for Sale.