New Delhi: Shares of private equity major Blackstone-backed Aadhar Housing Finance Ltd on Wednesday opened to a flat market against the issue price of Rs 315.
The stock was listed on NSE at Rs 315, equal to the issue price. Later it touched a high of Rs 329.90 and a low of Rs 292.
On BSE, the stock debuted at Rs 314.30, 0.22 per cent lower than the issue price.
The market valuation of the company stood at Rs 13,480.12 crore.
The initial public offer of Aadhar Housing Finance was subscribed 25.49 times on the closing day of the share-sale on Friday.
The initial share-sale of Rs 3,000 crore was a combination of a fresh issue of equity shares worth Rs 1,000 crore and an OFS (offer-for-sale) of Rs 2,000 crore by promoter BCP Topco VII Pte Ltd, an affiliate of Blackstone Group Inc. Had taken. ,
The price range of the three-day IPO was Rs 300-315 per share.
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.
The stock was listed on NSE at Rs 315, equal to the issue price. Later it touched a high of Rs 329.90 and a low of Rs 292.
On BSE, the stock debuted at Rs 314.30, 0.22 per cent lower than the issue price.
The market valuation of the company stood at Rs 13,480.12 crore.
The initial public offer of Aadhar Housing Finance was subscribed 25.49 times on the closing day of the share-sale on Friday.
The initial share-sale of Rs 3,000 crore was a combination of a fresh issue of equity shares worth Rs 1,000 crore and an OFS (offer-for-sale) of Rs 2,000 crore by promoter BCP Topco VII Pte Ltd, an affiliate of Blackstone Group Inc. Had taken. ,
The price range of the three-day IPO was Rs 300-315 per share.
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.
