- By Aditya Pratap Singh
- Wed, 08 May 2024 10:41 AM (IST)
- Source:JND
Aadhar Housing Finance IPO opens for subscription today i.e. May 8 and it will close on May 10 i.e. Friday. The Blackstone-backed business has set its IPO price band at Rs 300 to Rs 315 per share. Aadhar Housing Finance has already raised Rs 898 crore from anchor investors. The lot size to subscribe to the IPO is 47. Investors can Bid for multiples of 47 shares.
The company has allocated 35% of the total issue size to retail investors, non-institutional investors (NIIs) will have 15%, and 50 will be reserved for qualified institutional buyers (QIBs). The company has announced to offer a discount of Rs 23 per share to its employees.
About Aadhaar Housing Finance
Aadhar Housing Finance Limited is a housing finance company founded in 2010 with a focus on low-income groups. Tier 4 and Tier 5 cities in India are the target market for deep-impact branch sales offices.
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The organization provides a variety of mortgage financing options for the construction, renovation, and purchase of residential and commercial real estate. The Corporation has a wide network of 471 branches, including 91 sales offices as of September 30, 2023. These branches and sales offices serve approximately 10,926 pin codes in India and are spread across 20 states and union territories.
Aadhaar Housing Finance IPO Details
- Aadhar Housing Finance IPO Issue Size- Rs 3,000
- Offer for sale- Promoter BCP Topco VII Pte Ltd, a Blackstone Group affiliate, to sell shares worth Rs 2,000 each
- Fresh issue- Shares worth Rs 1,000 crore.
Between March 31, 2022, and March 31, 2023, Aadhar Housing Finance Ltd.'s profit after tax (PAT) increased by 22.22%, while its revenue increased by 18.22%. The business intends to use the net income for general corporate activities and further lending to meet future capital requirements.
Aadhaar Housing Finance IPO GMP: The Aadhaar Housing Finance IPO GMP is plus 70 against its upper band of issue price. This indicates that the share price of Aadhaar Housing Finance was trading at a premium of Rs 70 in the grey market.