Aadhar Housing Finance IPO: The initial public offering (IPO) of Aadhar Housing Finance, which is going to be closed on Friday, has received over 5 times subscription. Till 1:19 pm on the final day of bidding on Friday, the Rs 3,000-Crore IPO received 5.48 times subscription. The IPO got bids for 36,58,51,666 shares against 6,67,50,839 shares on offer.
Aadhar Housing Finance is backed by private equity major Blackstone.
Among investors’ category, Qualified Institutional Buyers (QIBs) portion received 10.39 times subscription, while the quota for non-institutional investors got subscribed 7.68 times. The Retail Individual Investors (RIIs) part received 1.73 times subscription.
The share allotment of the Aadhar Housing Finance IPO will likely be finalised on May 13, while its listing will take place on May 15 on both BSE and NSE.
Aadhar Housing Finance IPO GMP Today
According to market observers, unlisted shares of Aadhar Housing Finance Ltd are trading Rs 47 higher in the grey market as compared with its issue price. The Rs 47 grey market premium or GMP means the grey market is expecting a 14.92 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
About Aadhar Housing Finance IPO
The IPO of Aadhar Housing Finance is a combination of fresh issue of equity shares worth Rs 1,000 crore and an OFS (Offer for Sale) of Rs 2,000 crore by promoter BCP Topco VII Pte Ltd, an affiliate of Blackstone Group Inc.
Currently, BCP Topco holds a 98.72 per cent stake in Aadhar Housing Finance. The three-day IPO has a price range of Rs 300-315 a share.
Aadhar Housing Finance Ltd on Tuesday said it has mobilised Rs 898 crore from anchor investors. The company plans to utilise Rs 750 crore of the fresh issue proceeds to meet future capital requirements towards onward lending, while a portion will be used for general corporate purposes.
Aadhar Housing Finance offers a range of mortgage-related loan products, including loans for residential property purchase and construction; home improvement and extension loans; and loans for commercial property construction and acquisition. The housing finance company is focused on the low-income housing segment, serving economically weaker and low-to-middle-income customers, who require small-ticket mortgage loans. It has a network of 471 branches, including 91 sales offices, as of September 30, 2023.
The company benefits from the resources, relationships and expertise of Blackstone, one of the world’s leading investment firms. ICICI Securities, Citigroup Global Markets India, Kotak Mahindra Capital Company, Nomura Financial Advisory and Securities (India), and SBI Capital Markets are the managers to the offer.
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