Global investment firm Blackstone-backed Aadhar Housing Finance Ltd raised Rs898 crore from anchor investors on May 7, through the issuance of 2.85 crore equity shares, a day prior to launch of its initial public offering (IPO).
According to stock exchange data, Aadhar Housing Finance Ltd allotted 2.85 crore equity shares to 61 anchor investors at Rs315 per equity share.
Leading investors and mutual fund houses like Morgan Stanley Asia (Singapore) Pte Ltd, Amundi Funds, Neuberger Berman Emerging Markets Equity Fund, Theleme India Master Fund, SBI Life Insurance Company, ICICI Prudential Life Insurance Company, HDFC Mutual Fund (MF), ICICI Prudential MF, Axis MF, and Quant MF participated in the anchor round.
The Aadhar Housing Finance IPO, a book-built issue of Rs3,000 crore, opens for subscription today, May 8. The issue comprises a fresh issue of 3.17 crore shares, amounting to Rs1,000 crore, and an offer for sale of 6.35 crore shares, aggregating to Rs2,000 crore.
Subscription for the Aadhar Housing Finance IPO concludes on May 10. The allotment process is expected to be completed by May 13. On May 14, 2024, the initiation of refunds and the credit of shares to demat accounts are scheduled to take place.
Following this, the IPO is scheduled to list on both the BSE and NSE, with a tentative listing date set for May 15. The price band for the Aadhar Housing Finance IPO is set between Rs300 and Rs315 per share, with a minimum lot size of 47 shares. Retail investors need to invest a minimum of Rs14,805.
The book running lead managers for the Aadhar Housing Finance IPO are ICICI Securities Limited, Citigroup Global Markets India Private Limited, Kotak Mahindra Capital Company Limited, Nomura Financial Advisory and Securities (India) Pvt Ltd, and SBI Capital Markets Limited. The issue's registrar is Kfin Technologies Limited.
Aadhar Housing Finance intends to allocate the net proceeds from the IPO towards fulfilling future capital needs for onward lending. A portion of the proceeds will also be used for general corporate purposes.
