New Delhi: Aadhar Housing Finance Ltd, backed by private equity major Blackstone, on Thursday said it has set a price range of Rs 300 to Rs 315 per share for its Rs 3,000 crore initial public offering.
The initial share sale will be open for public subscription during May 8-10 and bidding for anchor investors will open for one day on May 7, the company said in a statement.
This will be the third initial public offering (IPO) to open next week after TBO Tech N Indegene.
The initial public offering (IPO) of Aadhar Housing Finance is a combination of a fresh issue of equity shares worth Rs 1,000 crore and an offer for sale (OFS) of Rs 2,000 crore by 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 and ICICI Bank holds 1.18 per cent stake.The company plans to use Rs 750 crore raised from the fresh issue to fund further lending to meet future capital requirements and a portion will also be used for general corporate purposes.
“Listing is an important milestone for Aadhaar Housing Finance and this transformation is a great example of what we do: building businesses to build India. We will leverage our scale, network and Bringing best global practices and empowering the company.” “Digitalizing their processes from origination to collection,” said Amit Dixit, head of private equity Asia at Blackstone.
Half 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.
Earlier this month, Aadhar Housing Finance had received SEBI approval to launch an IPO.
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 company is an HFC focused on the low-income housing segment, serving economically vulnerable and low-to-moderate income customers who require small-scale mortgage loans. It has a network of 471 branches as of September 30, 2023, including 91 sales offices.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 Private Limited, Kotak Mahindra Capita Company Limited, Nomura Financial Advisory & Securities (India) Private Limited and SB Capital Markets are the book-running lead managers to the issue.
The initial share sale will be open for public subscription during May 8-10 and bidding for anchor investors will open for one day on May 7, the company said in a statement.
This will be the third initial public offering (IPO) to open next week after TBO Tech N Indegene.
The initial public offering (IPO) of Aadhar Housing Finance is a combination of a fresh issue of equity shares worth Rs 1,000 crore and an offer for sale (OFS) of Rs 2,000 crore by 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 and ICICI Bank holds 1.18 per cent stake.The company plans to use Rs 750 crore raised from the fresh issue to fund further lending to meet future capital requirements and a portion will also be used for general corporate purposes.
“Listing is an important milestone for Aadhaar Housing Finance and this transformation is a great example of what we do: building businesses to build India. We will leverage our scale, network and Bringing best global practices and empowering the company.” “Digitalizing their processes from origination to collection,” said Amit Dixit, head of private equity Asia at Blackstone.
Half 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.
Earlier this month, Aadhar Housing Finance had received SEBI approval to launch an IPO.
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 company is an HFC focused on the low-income housing segment, serving economically vulnerable and low-to-moderate income customers who require small-scale mortgage loans. It has a network of 471 branches as of September 30, 2023, including 91 sales offices.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 Private Limited, Kotak Mahindra Capita Company Limited, Nomura Financial Advisory & Securities (India) Private Limited and SB Capital Markets are the book-running lead managers to the issue.
