Aadhar Housing Finance IPO Latest Update: Aadhar Housing Finance IPO has opened for subscription today (Wednesday, May 8). It will close on Friday, May 10. The price band of IPO for Blackstone-supported business has been set at Rs 300 to Rs 315 per share.
Aadhar Housing IPO raised Rs 898 crore from anchor investors on Tuesday, May 7. Bids can be made for multiples of 47 shares with a minimum bid of 47.
Aadhar Housing Finance IPO has allocated 35% of the issue size to retail investors, 15% to non-institutional investors (NIIs), and 50% of the issue size to qualified institutional buyers (QIBs). The company is giving a discount of Rs 23 per share to its employees.
Aadhar Housing Finance Limited is a housing finance firm established in 2010 with an emphasis on lower-income groups.
Customers in Tier 4 and Tier 5 towns of India are the target market for deep-impact branch sales offices.
The firm listed 12,221 Aadhaar Mitras as of September 30, 2023, who are paid referral charges for loan searches for their customers.
The organization offers a series of mortgage funding options for the construction, renovation, and purchase of residential and commercial real estate.
As of September 30, 2023, the Corporation has a wide network of 471 branches including 91 sales offices. These branches and sales offices serve approximately 10,926 pin codes in India and are spread across 20 states and union territories.
Between March 31, 2022, and March 31, 2023, Aadhar Housing Finance Limited’s profit after tax (PAT) grew by 22.22%, while its revenue grew by 18.22%.
Aadhar Housing Finance IPO Details The Rs 3,000 crore initial public offering of Aadhar Housing Finance comprises an OFS (offer for sale) for Rs 2,000 crore and a fresh issue of equity shares worth Rs 1,000 crore by promoter BCP Topco VII Pte Ltd.
Promoter BCP Topco VII Pte will sell its stake within the OFS. 98.7% of the pre-offer issued, subscribed, and paid-up equity share capital is now held by BCP Topco, the promoter and associate of funds managed by Blackstone.
The company plans to use the net income for general corporate activities and further lending to meet future capital requirements.
The book-running lead managers are SBI Capital Markets Limited, Nomura Financial Advisory & Securities (India) Private Limited, Kotak Mahindra Capital Company Limited, ICICI Securities Limited, and Citigroup Global Markets India Private Limited. For this issue, Kfin Technologies Limited is acting as the registrar.
GMP of Aadhar Housing Finance IPO
According to InvestorGain.com, Aadhar Housing Finance IPO GMP is +70. This indicates that the share price of Aadhar Housing Finance was trading at a premium of Rs 70 in the gray market.
When the upper end of the IPO pricing range and the current premium on the gray market are taken into account, it is estimated that Aadhar Housing Finance shares will be listed for Rs 385 per share, which is an increase of Rs 22.22 from the IPO price of Rs 315. % is more.
