The initial public offering (IPO) of Aadhar Housing Finance commenced on May 8 and will close on May 10. Backed by Blackstone, the company’s IPO witnessed a subscription of 0.32 times, with 2,22,06,795 shares received against the offered 7,00,89,373 shares on the first day of bidding.
Aadhar Housing Finance specializes in providing housing finance solutions to the lower-income segment, primarily in tier 4 and tier 5 cities across India. With a network of 471 branches and 91 sales offices spanning 20 states and union territories, the company aims to raise ₹3,000 crore from the issuance at the upper end of the price range.
The IPO comprises a fresh issue of 3.17 crore equity shares amounting to ₹1,000 crore, along with an offer for sale (OFS) component of 6.35 crore shares totaling ₹2,000 crore. Retail investors can invest in lots of 47 shares, with a minimum investment requirement of ₹14,805. Allocation of shares is expected by May 13, with listing scheduled for May 15 on both the BSE and NSE.
Market observers note a grey market premium (GMP) of ₹71 per share on May 8, indicating strong investor interest. This suggests an anticipated listing price of ₹386, a 22.54% increase from the IPO price of ₹315. The GMP ranges from ₹0 to ₹130, highlighting investors’ willingness to pay more than the issue price.
The proceeds from the IPO will be utilized for future capital requirements for lending activities and general corporate purposes. Don’t miss this opportunity to unlock a world of benefits with Aadhar Housing Finance IPO.
