Aadhar Housing Finance step up for IPO to raise Rs 5000 cr
Blackstone-owned leading affordable housing finance company, Aadhar Housing Finance has filed its draft paper with market regulator SEBI to raise around Rs 5,000 crore through an IPO.
The company IPO comprises a fresh equity issue of Rs 1,000 crore and an offer for sale of Rs 4,000 crore. Promoter BCP Topco 7 Pte will shed its stake under OFS as it is affiliated to be managed by Blackstone which currently holds 98.7% of the pre-offer issued, subscribed, and paid-up equity share capital. The company had the highest number of live accounts in FY23 and mainly services economically weaker and low-to-middle-income customers.
It is a housing finance company based in the low-income housing segment, with a ticket size of less than Rs 15 lakh. The firm is going to utilize the net proceeds to meet future capital requirements for lending and other general purposes.
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ICICI Securities, Citigroup Global Markets, Kotak Mahindra Capital, Nomura Financial Advisory and Securities [India], and SBI Capital are book-running lead managers to the issue. The company specializes in offering loans for residential property purchase and construction, home improvement and extension loans, and loans for commercial property construction and acquisition with an extensive network of 471 branches including 91 sales offices.
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