New Delhi: The initial public offering (IPO) of Aadhar Housing Finance, backed by private equity major Blackstone, received 43 per cent subscription on the first day of bidding on Wednesday.
The Rs 3,000 crore IPO received bids for 3,04,53,979 shares against 7,00,89,37, according to NSE data.
The quota for non-institutional investors received 60 per cent subscription, while the retail individual investors (RII) category received 41 per cent subscription, the qualified institutional buyers (QIB) portion received 33 per cent subscription.
Aadhar Housing Finance's IPO is a combination of a fresh issue of equity shares worth Rs 1,000 crore and an OFS (offer for sale) worth Rs 2,000 crore with promoter BCP Topco VII Pte Ltd, an affiliate of Blackstone Group Inc.
Currently, BCP Topco holds 98.72 per cent stake in Aadhar Housing Finance.The price range of the IPO is Rs 300-315 per share.
Aadhar Housing Finance Ltd on Tuesday said it has raised Rs 898 crore from anchor investors.
The company plans to use Rs 750 crore raised from the fresh issue for further lending to meet future capital requirements, while a portion will be used for general corporate purposes.
Aadhar Housing Finance offers a range of mortgage-related loan products including loans for residential property purchase and construction; Home Improvement and Extension Loans; and loans for commercial property construction and acquisition.
The housing finance company focuses on the low-income housing segment serving economically weaker and low-to-moderate income customers who require small-ticket mortgage loans.It has a network of 471 branches including 9 sales offices as of September 30, 2023.
The company benefits from the resources, relationships and expertise of Blackstone, one of the world's leading investment firms.
ICICI Securities, Citigroup Global Markets India, Kotak Mahindra Capita Company, Nomura Financial Advisory & Securities (India) and SBI Capita Markets are the managers of the offer.
The Rs 3,000 crore IPO received bids for 3,04,53,979 shares against 7,00,89,37, according to NSE data.
The quota for non-institutional investors received 60 per cent subscription, while the retail individual investors (RII) category received 41 per cent subscription, the qualified institutional buyers (QIB) portion received 33 per cent subscription.
Aadhar Housing Finance's IPO is a combination of a fresh issue of equity shares worth Rs 1,000 crore and an OFS (offer for sale) worth Rs 2,000 crore with promoter BCP Topco VII Pte Ltd, an affiliate of Blackstone Group Inc.
Currently, BCP Topco holds 98.72 per cent stake in Aadhar Housing Finance.The price range of the IPO is Rs 300-315 per share.
Aadhar Housing Finance Ltd on Tuesday said it has raised Rs 898 crore from anchor investors.
The company plans to use Rs 750 crore raised from the fresh issue for further lending to meet future capital requirements, while a portion will be used for general corporate purposes.
Aadhar Housing Finance offers a range of mortgage-related loan products including loans for residential property purchase and construction; Home Improvement and Extension Loans; and loans for commercial property construction and acquisition.
The housing finance company focuses on the low-income housing segment serving economically weaker and low-to-moderate income customers who require small-ticket mortgage loans.It has a network of 471 branches including 9 sales offices as of September 30, 2023.
The company benefits from the resources, relationships and expertise of Blackstone, one of the world's leading investment firms.
ICICI Securities, Citigroup Global Markets India, Kotak Mahindra Capita Company, Nomura Financial Advisory & Securities (India) and SBI Capita Markets are the managers of the offer.
