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    Aadhar Housing Finance shares make a tepid debut, list flat against issue price

    Aadhar Housing Finance shares make a tepid debut, list flat against issue price


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    Aadhar Housing Finance shares made a tepid debut on Dalal Street, listing at Rs 314 per share on May 15, down 0.3 percent against issue price of Rs 315 per share. The Rs 3,000-crore initial public offer (IPO) of Aadhar Housing was subscribed 26.76 times (x), with 76.4x in qualified institutional buyers (QIBs) category, 17.3x in non-institutional investor (NII), and 2.5x in retail.

    Aadhar Housing IPO was completed on May 10 and the price band was fixed in the range of Rs 300-315 per share. The company intends to utilise the net proceeds from the IPO to meet future capital requirements for lending activities and for general corporate purposes.

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    Aadhar Housing Finance’s Rs 3,000 crore IPO consisted of an offer-for-sale (OFS) by promoter BCP Topco VII Pte, a Blackstone Group affiliate, for Rs 2,000 crore and a fresh issue of equity shares valued at Rs 1,000 crore.

    The company garnered Rs 898 crore from 61 funds through an anchor book opened for a single day on May 7.

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    The company, established in 2010, focusses on providing housing finance solutions to the lower-income segments. It offers a wide range of mortgage financing options for residential and commercial property purchases and development, as well as home remodelling and expansion.

    ALSO READ: Aadhar Housing CEO: Eventually it will be a two-horse race between us and Aavas Financiers

    SBI Capital Markets, ICICI Securities, Kotak Mahindra Capital, Nomura Financial Advisory, and Citigroup Global Markets India were the lead book-running managers.

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    Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.




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