Aadhar Housing Finance IPO price band set at ₹300-315 per share; issue to open on May 8

Aadhar Housing Finance IPO: The Blackstone Group-backed Aadhar Housing Finance is set to launch its initial public offering (IPO) on May 8. The bidding for the offer will conclude on May 10.

Aadhar Housing Finance IPO price band has been fixed at ₹300 to ₹315 per share. At the upper end of the price band, the company plans to raise ₹3,000 crore from the issue. Aadhar Housing Finance IPO comprises a fresh issue of 3.17 crore equity shares aggregating to ₹1,000 crore and an offer for sale (OFS) component of 6.35 crore shares aggregating to ₹2,000 crore.

The IPO lot size is 47 shares and the minimum investment amount required by retail investors is ₹14,805.

The company is offering a discount of ₹23 per share to its employees.

Aadhar Housing Finance IPO allotment is expected to be finalized on May 13 and the shares of the company will list on May 15 at BSE and NSE.

Read here: Blackstone-backed Aadhar Housing Finance IPO dates announced; check details

The company proposes to utilize the net issue proceeds to meet future capital requirements towards onward lending and for general corporate purposes.

ICICI Securities, Citigroup Global Markets India, Kotak Mahindra Capital Company, Nomura Financial Advisory And Securities (India) and SBI Capital Markets are the book running lead managers of the Aadhar Housing Finance IPO, while Kfin Technologies Limited is the IPO registrar.

Aadhar Housing Finance is a housing finance company targeting the lower income segment. 

The company caters to its customers in India’s tier 4 and tier 5 towns. As of September 30, 2023, the company had a network of 471 branches, including 91 sales offices spread across 20 states and union territories.

In the financial year 2022-2023, Aadhar Housing Finance reported a net profit of ₹545.34 crore upon a revenue of ₹2,043.52 crore.

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