Aadhar Housing Finance IPO: Check date, price band, share allotment and key details of Blackstone-backed firm
Upstox
2 min read • Updated: May 6, 2024, 1:17 PM
Summary
Aadhar Housing Finance IPO: Aadhar Housing Finance, which will open for subscription from May 8 to May 10, provides home financing options for low-income sections. Its offerings include loans for property purchase and construction, home improvement and commercial property construction.
Aadhar Housing Finance IPO: Aadhar Housing Finance, which is owned by the affiliate of investment management firm Blackstone Group, will come up with its ₹3,000 crore initial public offering on May 8.
The price band for the issue, which will close on May 10, has been fixed at ₹300-₹315 per equity share.
The initial share sale is a combination of fresh issuance of equity shares worth ₹1,000 crore and an offer for sale (OFS) component of ₹2,000 crore.
Company promoter BCP Topco VII Pte, an affiliate of Blackstone Group Inc, currently holds a 98.72% stake in the housing finance company. It will be offloading shares worth ₹2,000 crore.
The bidding for anchor investors will take place on May 7. The company has also reserved shares worth ₹7 crore for its employees. Investors can bid for a minimum of shares worth ₹14,805 and in multiples after that.
Aadhar Housing Finance IPO: Date, price band, allotment & more
- Aadhar Housing Finance IPO date: May 8 to May 10
- Price band: ₹300-₹315 per equity share
- Lot size: 47 shares
- IPO issue size: ₹3,000 crore
- Allotment: Monday, May 13
- Refunds: Tuesday, May 14
- Credit of equity shares: Tuesday, May 14
- Aadhar Housing Finance IPO listing: Wednesday, May 15
The company intends to use proceeds from the IPO to meet future capital requirements towards onward lending and for general corporate purposes.
Also Read: Manappuram Finance unit Asirvad Microfinance gets SEBI nod to float IPO; check details
The book-running lead managers for the issue are ICICI Securities, Nomura Financial Advisory and Securities (India), Citigroup Global Markets India and SBI Capital Markets.
About Aadhar Housing Finance
Aadhar Housing Finance Ltd provides home financing options for low-income sections. Its offerings include loans for property purchase and construction, home improvement and commercial property construction and acquisition.
As of September 30, 2023, the company has 471 branches, including 91 sales offices.