Aadhar Housing Finance IPO.
Initial public providing of Aadhar Housing Finance Ltd has filed preliminary papers with capital markets regulator Sebi to lift Rs 5,000 crore by means of the providing
Aadhar Housing Finance IPO: Aadhar Housing Finance Ltd has filed preliminary papers with capital markets regulator Sebi to lift Rs 5,000 crore by means of the providing.
The IPO is a mix of a recent challenge of fairness shares price Rs 1,000 crore and a proposal-for-sale (OFS) of Rs 4,000 crore by promoter BCP Topco VII Pte Ltd, an affiliate of Blackstone Group Inc, in accordance with the Draft Red Herring Prospectus (DRHP) filed on Wednesday.
Aadhar Housing Finance is backed by non-public fairness main Blackstone.
Currently, BCP Topco holds a 98.72 per cent stake in Aadhar Housing Finance. The firm proposes to utilise the proceeds from the recent challenge to the tune of Rs 750 crore for assembly future capital necessities in direction of onward lending and a portion may also be used for normal company functions.
Aadhar Housing Finance affords a variety of mortgage-associated mortgage merchandise, together with loans for residential property buy and building; residence enchancment and extension loans; and loans for industrial property building and acquisition.
It has a community of 471 branches, together with 91 gross sales workplaces, as of September 30, 2023. Earlier, Aadhar Housing filed draft papers with Sebi in January 2021 to lift Rs 7,300 crore by means of an preliminary share sale.
It had acquired the regulator’s nod to drift the general public challenge in May 2022, nonetheless, it didn’t go forward with the launch. Mahindra Capital Company, Nomura Financial Advisory and Securities (India) and SBI Capital Markets are the ebook-operating lead managers to the general public challenge.
(With Inputs from PTI)
