The bidding for anchor investors will open on May 7 and the initial share sale will close on May 10.
Aadhar Housing Finance: Backed by private equity giant Blackstone, Aadhar Housing Finance will be launching its Rs 3,000 crore initial public offerings (IPO) on May 8 and close on May 10. This information was shared by the company’s Red Herring Prospectus (RHP).
The bidding for anchor investors will open for a day on May 7 and the initial share sale will close on May 10.
The IPO 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.
BCP Topco currently holds a 98.72% stake in the housing finance company, with ICICI Bank owning the remaining 1.18% stake. The company intends to utilise ₹750 crore from the fresh issue proceeds to meet future capital requirements for onward lending purposes, with a portion also allocated for general corporate purposes, reports Benzinga India.
Aadhar Housing Finance received the Securities and Exchange Board of India (SEBI) permission to float the IPO in April.
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, reports ET adding that the company has a network of 471 branches, including 91 sales offices, as of September 30, 2023.
It further says that 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.