The subscription for the Aadhar Housing Finance IPO began on Wednesday, May 8, and will close on Friday, May 10. The IPO price range for this Blackstone-backed business is ₹300 to ₹315 per share. Prior to the subscription, the IPO raised ₹898 crore from anchor investors on Tuesday, May 7. Investors can place bids for multiples of 47 shares, with a minimum bid of 47.
In the Aadhar Housing Finance IPO, retail investors have been allocated 35% of the issue size, non-institutional investors (NIIs) have been allocated 15%, and qualified institutional buyers (QIBs) have been allocated 50% of the issue size. Additionally, the company is offering its employees a discount of ₹23 per share.
Aadhar Housing Finance Limited is a housing finance firm that was founded in 2010 with an emphasis on lower income groups.
As of September 30, 2023, the firm has enlisted 12,221 Aadhar Mitras who are compensated with referral fees for assisting their clients in finding loans. The organization provides a variety of mortgage financing options for residential and commercial real estate, including building, renovating, and purchasing properties. As of September 30, 2023, the corporation has a widespread network of 471 branches, which includes 91 sales offices. These branches and sales offices cover approximately 10,926 pin codes across 20 states and union territories in India.
Aadhar Housing Finance’s ₹3,000 crore initial public offering consists of an OFS (offer for sale) by promoter BCP Topco VII Pte Ltd, a Blackstone Group affiliate, for ₹2,000 crore and a fresh issue of equity shares valued at ₹1,000 crore. Promoter BCP Topco VII Pte will sell its interest 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 an affiliate of funds managed by Blackstone.