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Aadhar Housing Finance, which is backed by private equity giant Blackstone, is all set to launch its ₹3,000-crore initial public offering (IPO) on May 8. The IPO will close on May 10, according to the company’s red herring prospectus.
The IPO comprises a fresh issuance of equity shares valued at ₹1,000 crore, alongside an offer for sale (OFS) of ₹2,000 crore by BCP Topco VII Pte Ltd, an affiliate of Blackstone Group Inc, the promoter.
Presently, BCP Topco holds a majority stake of 98.72 per cent in Aadhar Housing Finance, while ICICI Bank holds a 1.18 per cent stake.
Also read: IPOs in May: Indegene, TBO Tek, Aadhar Housing and 4 SME companies to launch their IPOs this month
The company intends to allocate ₹750 crore from the proceeds of the fresh issue to address future capital needs for lending purposes, with a portion earmarked for general corporate uses.
Earlier this month, Aadhar Housing Finance obtained approval from the market regulator, the Securities and Exchange Board of India, to launch its IPO.
Specialising in mortgage-related loan products, Aadhar Housing Finance provides various options, including loans for purchasing and constructing residential properties, home improvement and extension loans, as well as loans for commercial property construction and acquisition.
The company operates as a housing finance company (HFC) with a focus on the low-income housing segment. Its clientele primarily consists of economically weaker and low-to-middle-income individuals in need of small-ticket mortgage loans.
As of September 30, 2023, the company possesses a network comprising 471 branches, among which 91 serve as sales offices. Leveraging the resources, relationships, and expertise of Blackstone, a premier investment firm globally, the company gains significant advantages.
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.
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Published: 01 May 2024, 03:54 PM IST
