Shares of Home First Finance Company India Ltd were trading in the green and 3% higher on 22 February after the company announced receiving a composite licence from the Insurance Regulatory & Development Authority of India (IRDAI)

The development will help the company to diversify its offerings by engaging in the sale of life, health, and general insurance products.

In its exchange filing, the company said that the newly acquired licence is valid from 21 February 2024 to 20 February 2027.

This composite licence allows companies to operate as intermediaries in both general and life insurance that will provide customers with a one-stop shop for their insurance needs.

The company is primarily engaged in the business of lending housing loans, loans against property and construction finance, and loans for the purpose of purchasing commercial property.

At 1:57 pm, the shares of Home First were trading 2.18% higher at Rs 935.35 on NSE.