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

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.

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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