Aadhar Housing Finance IPO: Blackstone-backed firm raises ₹898 crore from anchor investors
Upstox
3 min read • Updated: May 8, 2024, 12:15 PM
Summary
Aadhar Housing Finance IPO, a book-built issue of ₹3,000 crore, opens for subscription on May 8. The IPO comprises a fresh issue of 3.17 crore shares, amounting to ₹1,000 crore, and an offer for sale of 6.35 crore shares, aggregating to ₹2,000 crore.
Global investment firm Blackstone-backed Aadhar Housing Finance Ltd raised ₹898 crore from anchor investors on Tuesday, May 7, through the issuance of 2.85 crore equity shares, a day prior to launch of its initial public offering (IPO).
According to stock exchange data, Aadhar Housing Finance Ltd allotted 2.85 crore equity shares to 61 anchor investors at ₹315 per equity share.
Leading investors and mutual fund houses like Morgan Stanley Asia (Singapore) Pte Ltd, Amundi Funds, Neuberger Berman Emerging Markets Equity Fund, Theleme India Master Fund, SBI Life Insurance Company, ICICI Prudential Life Insurance Company, HDFC Mutual Fund (MF), ICICI Prudential MF, Axis MF, and Quant MF participated in the anchor round.
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Aadhar Housing Finance IPO dates
The Aadhar Housing Finance IPO, a book-built issue of ₹3,000 crore, opens for subscription today, May 8. The issue comprises a fresh issue of 3.17 crore shares, amounting to ₹1,000 crore, and an offer for sale of 6.35 crore shares, aggregating to ₹2,000 crore.
Subscription for the Aadhar Housing Finance IPO concludes on May 10. The allotment process is expected to be completed by May 13. On May 14, 2024, the initiation of refunds and the credit of shares to demat accounts are scheduled to take place.
Following this, the IPO is scheduled to list on both the BSE and NSE, with a tentative listing date set for May 15.
Aadhar Housing Finance IPO price band and other details
The price band for the Aadhar Housing Finance IPO is set between ₹300 and ₹315 per share, with a minimum lot size of 47 shares. Retail investors need to invest a minimum of ₹14,805.
The book running lead managers for the Aadhar Housing Finance IPO are ICICI Securities Limited, Citigroup Global Markets India Private Limited, Kotak Mahindra Capital Company Limited, Nomura Financial Advisory and Securities (India) Pvt Ltd, and SBI Capital Markets Limited. The issue's registrar is Kfin Technologies Limited.
Aadhar Housing Finance IPO objective
Aadhar Housing Finance intends to allocate the net proceeds from the IPO towards fulfilling future capital needs for onward lending. A portion of the proceeds will also be used for general corporate purposes.
About Aadhar Housing Finance
Aadhar Housing Finance Limited, established in 2010, specialises in providing housing finance solutions for the lower-income segment. Through its network of branches and sales offices, the company extends its services to tier-4 and tier-5 towns in India. The company offers a range of mortgage loan products for residential and commercial purposes, including property purchase, construction, and home improvement. It has 471 branches, including 91 sales offices, across 20 states and union territories.