In a significant development, Aadhar Housing Finance, supported by Blackstone, has secured SEBI’s approval for its IPO. This substantial IPO of Rs 5,000 crore marks a crucial milestone for the company. As per the sources, the Aadhar Housing Finance IPO shall launch within this fiscal year.
Let us explore the details of this upcoming IPO.
Aadhar Housing Finance IPO Details| Key Highlights
- Aadhar Housing Finance, backed by Blackstone, received SEBI approval for a Rs 5,000 crore IPO after re-filing its draft papers on February 2.
- The Aadhar Housing Finance IPO will include a fresh issue of up to Rs 1,000 crore.
- Additionaly the IPO shall include an offer-for-sale component of up to Rs 4,000 crore, with Blackstone reducing its stake.
- The funds raised will be used for future lending and general corporate purposes.
- Leading financial firms like ICICI Securities, Kotak Mahindra Capital, Nomura, Citi, and SBI Capital are the current advisors.
About Aadhar Housing Finance: Company Overview
Aadhar Housing Finance Ltd is a leading low-income housing finance company in India. It aims to fulfil the home financing needs of underserved segments of society. The company has a presence across 20 states and over 471 branches. It offers financing solutions to customers with incomes ranging from INR 5000 to INR 50000 and above.
Aadhar Housing Finance Draft Refiling and IPO Details
The affordable home financier resubmitted its draft IPO documents to Sebi on February 2. This was a decent delay to its earlier plans on January 30.
The proposed Aadhar Housing Finance IPO will consist of a fresh issuance of shares worth up to Rs 1,000 crore and an offer-for-sale component of up to Rs 4,000 crore, with Blackstone planning to reduce its stake as part of the share sale.
Blackstone backed Aadhar Housing Finance plans to use its the fresh issue for future capital requirements towards lending activities.
Regarding the Aadhar Housing Finance IPO GMP, specific details about the GMP are currently unavailable.
Investors must monitor market updates for this information.
As for the Aadhar Housing Finance listing date, the exact listing date has not been disclosed yet.
Stay tuned to official announcements for the latest updates on the IPO listing schedule.
Advisors and Previous IPO Attempt
ICICI Securities, Kotak Mahindra Capital, Nomura, Citi, and SBI Capital are advising Aadhar Housing Finance on the IPO listing plan.
Aadhar Housing Finance had previously filed IPO papers in January 2021 and received regulatory approval in May 2022.
However, the approval validity expires after one year, necessitating a fresh filing for those seeking to proceed.
Blackstone’s Plans and Industry Trends
Jonathan D. Gray, Blackstone’s President and Chief Operating Officer, expressed ambitions to expand into infrastructure, growth equity, and private credit in India.
Conclusion
The approval of Aadhar Housing Finance’s IPO by SEBI opens doors to exciting possibilities. This IPO, combining a fresh issue and offer-for-sale, aims to meet future capital requirements for lending and corporate purposes. The broader implications extend beyond fundraising, reflecting the firm’s ambitions to diversify into infrastructure and growth equity.
Stay tuned for further IPO investment updates!
Souce– moneycontrol.com, aadharhousing.com
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