Aadhar Housing Finance IPO.
The Rs 3,000-crore Aadhar Housing Finance IPO will be finalized on May 10 and bidding for anchor investors will begin on May 7 during the day.
Aadhar Housing Finance IPO: The initial public offering of Aadhar Housing Finance Ltd, backed by private equity firm Blackstone, will commence on May 8. The Rs 3,000-crore IPO will be finalized on May 10 and bidding for anchor investors will begin on a single day in May. 7, according to Red Herring Prospectus (RHP).
The IPO is a combination of a fresh issue of shares worth Rs 1,000 crore and an offer for sale (OFS) worth Rs 2,000 crore from the promoters of BCP Topco VII Pte Ltd, a unit of Blackstone Group Inc. Currently, BCP Topco holds $9.872 billion. Aadhar Housing Finance owns 1% stake and ICICI Bank holds 1.18% stake.
The company plans to utilize Rs 750 crore of the proceeds from the new issue to meet capital requirements for future loans, a portion of which will also be used for general corporate purposes. Earlier this month, Aadhar Housing Finance received Sebi's approval to proceed with its IPO.
Aadhar Housing Finance offers a variety of mortgage-related loan products, including loans for purchase and construction of residential properties. home improvement and extension loans; Loans for construction and acquisition of commercial real estate. The company is a HFC focused on the low-income housing sector, serving economically vulnerable low- and moderate-income customers in need of small mortgage loans.
As of September 30, 2023, it had a network of 471 branches, including 91 sales offices. 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 Pvt Ltd, Kotak Mahindra Capital Company Ltd, Nomura Financial Advisory and Securities (India) Pvt Ltd and SBI Capital Markets are acting lead managers for the matter.