Blackstone-backed Aadhar Housing Finance IPO commences at Rs 300-315

Half of the issue size has been reserved for qualified institutional buyers (QIBs), 35 percent for retail investors, and the remaining 15 percent for non-institutional investors.

Blackstone-backed Aadhar Housing Finance IPO commences at Rs 300-315

The initial public offering of Aadhar Housing Finance opens for the public today. The IPO comes at a price band of Rs 300-315. Its IPO closes on May 10 and the market lot is .47 shares.

The initial public offering (IPO) of Aadhar Housing Finance, which is valued at Rs 3,000 crore, includes a fresh issue of equity shares worth Rs 1,000 crore and an offer-for-sale (OFS) of Rs 2,000 crore by the promoter BCP Topco VII Pte Ltd, which is an affiliate of Blackstone Group Inc.

Currently, BCP Topco holds a 98.72 percent stake in Aadhar Housing Finance and the company is planning to utilize Rs 750 crore of the fresh issue proceeds to meet future capital requirements towards onward lending, while a portion will be used for general corporate purposes.

Read Also : HPCL and Oil India sign MoU to explore energy sector

Through the IPO process, Aadhar Housing Finance Ltd raised Rs 898 crore from anchor investors. The company allocated 2.85 crore shares to 61 funds at a price of Rs 315 per share.

ICICI Securities, Citigroup Global Markets India Pvt Ltd, Kotak Mahindra Capital Company Ltd, Nomura Financial Advisory and Securities (India) Pvt Ltd, and SBI Capital Markets are the book-running lead managers to the issue.

Read Also : RBI launches three major initiatives

Morgan Stanley Asia (Singapore) Pte Ltd, Amundi Funds, Neuberger Berman Emerging Markets Equity Fund, Theleme India Master Fund, SBI Life Insurance Company, ICICI Prudential Life Insurance Company, HDFC Mutual Fund (MF), ICICI Prudential MF, Axis MF and Quant MF are among the anchor investors.

Read Also : Rail Vikas Nigam Limited emerges as the Lowest Bidder from North Central Railway