A housing finance company’s IPO is scheduled for the second week of May and will be worth Rs 3000 crore in total. The Rs 3000 crore initial public offering (IPO) of top private equity firm Blackstone-backed Aadhar Housing Finance Limited will begin on May 8 and end on May 10.
According to the IPO document submitted to SEBI, anchor investors will be eligible to bid for shares on May 7. SEBI approved Aadhaar Housing Finance’s IPO this month.
What Will Be The IPO’s Outline?
Under the IPO, new shares worth Rs 1,000 crore will be issued, and BCP Topco 7 Private Limited, a subsidiary of Blackstone Group Inc., will make an offer for sale (OFS) worth Rs 2,000 crore. BCP Topco, backed by the world’s top investment firm Blackstone, currently owns 98.72 percent of Aadhaar Housing, with ICICI Bank holding 1.18 percent.
Special Features Of IPO
The Rs 750 crore raised from the IPO would be used to meet future capital requirements of the firm. The business submitted draft documents to SEBI in February 2024. SEBI also approved the company’s plan to raise Rs 7000 crore through an IPO in May 2022.
However, at the time, the firm had decided to postpone its first public offering. Following this, it was announced that the valuation of the IPO would be Rs 5000 crore, but it has now been allowed to launch a public issue of Rs 3000 crore.
How was the company’s performance in the financial year 2022-23?
Aadhar Housing Finance Limited has the most live accounts in the fiscal year 2022-23. The firm mostly serves those with low and medium incomes. ICICI Securities, Citigroup Global Markets, Kotak Mahindra Capital, Nomura Financial Advisory, and SBI Capital are the book-running lead managers for the IPO.
