The IPO of Aadhar Housing Finance Ltd. has opened from today. You can invest money in this IPO till Friday, May 10. According to the red herring prospectus, the IPO of the housing finance company, started as Vysya Bank Housing Finance Ltd in Bengaluru in 1990, will see fresh shares worth Rs 1,000 crore being issued, while Rs 2,000 crore will be offered through an offer for sale (OFS) by promoters and shareholders. ) will be.
Raised Rs 898 crore from anchor investors
That is, there is a plan to raise a total of Rs 3,000 crore through IPO, out of which Aadhar Housing Finance will use Rs 750 crore for giving loans and meeting future business needs. The company has fixed the price band of IPO at Rs 300-315 per share.
Aadhar Housing Finance has raised Rs 898 crore from anchor investors. The company has allotted 2,85,04,761 shares to 61 anchor investors at a price of Rs 315 per share.
The promoters of the company include BCP Topco VII Pte, a company associated with the Blackstone Group. The company will sell shares worth Rs 2,000 crore through OFS. The book-running lead managers to the issue are ICICI Securities, Citigroup Global Markets India, Kotak Mahindra Capital, Nomura Financial Advisory & Securities, and SBI Capital Markets.
IPO of Aadhar Housing Finance
IPO period – 8-10 May
Price Band – Rs 300-315/share
IPO size – Rs 3,000 crore
Fresh shares – Rs 1,000 crore
Offer for Sale – Rs 3,000 crore
Lot Size – 47 Shares
Minimum investment – Rs 14,805
Investors will have to bid for at least 47 shares, after which they can buy shares in multiples of 47. According to this, retail investors will have to make a minimum investment of Rs 14,805 in the upper price band. Employees of the company will get a discount of Rs 23 per share. The date of listing will be known later, but it is estimated that it may be listed on May 15. Allotment of shares is expected on May 13.
Company business?
Aadhar Housing Finance offers mortgage linked loan products. This includes property loans for buying and constructing a house, loans for renovating houses and loan enhancements, loans for construction and acquisition of commercial properties. In FY23, Aadhar Housing Finance posted a profit of Rs 545 crore, up 22.5% from a year earlier.
According to the information given, by December 2023, the company has 487 branches in 20 states and UTs, which includes 109 sales offices. The company also gets resources, relationships and expertise from Blackstone, the world’s largest investment firm.
Had applied for IPO earlier also
Even before this, the company had applied for IPO in January 2021 to raise Rs 7,300 crore, approval was also received from SEBI in May 2022, but then the company canceled the plan to launch IPO.
