Aadhaar Housing Finance IPO: This IPO of housing finance will open on May 8, plans to raise Rs 3,000 crore
Aadhaar Housing Finance IPO: The initial public offering (IPO) of Aadhar Housing Finance will open for bidding next week on May 8. The company, invested by Blackstone Group, plans to raise around Rs 3,000 crore from the IPO. The company said that it will announce the price band of the shares in the next day or two. This will also be the third IPO to open next week. Apart from Aadhaar Housing Finance, CEOs of Indegene and TBO tek are also opening for bidding next week.
The last date for depositing money in Aadhaar Housing Finance Grant is May 10. New shares worth Rs 1000 crore will be issued in the company. Whereas shares worth about Rs 2000 crore will be put up for sale by its promoter BCP Topkoni.
BCP is a fund managed by Topco Pte., a subsidiary of Blackstone Group. It has 98.72 percent stake in Aadhaar Housing Finance. Actually he is the promoter of the company since June 2019. The selling stake in the company is held by public shareholders. ICICI Bank is also included in this, which has 1.18 percent stake in it.
The company had earlier planned to raise Rs 5000 crore through its IPO, but has now reduced its size to Rs 3000 crore. According to the draft paper, when filing the documents in January 2024, the company planned to issue fresh shares worth Rs 1,000 crore and an offer for sale worth Rs 4,000 crore.
Aadhar Housing Finance has reserved half of its IPO for qualified institutional buyers. While 15 percent is reserved for non-institutional investors, the remaining 35 percent is reserved for retail investors. His company has also reserved shares worth Rs 7 crore for its employees.
Whereas the IPO of Aadhar Housing Finance will open for anchor investors a day earlier i.e. on May 7. The anchor investor will be allotted shares from the portion reserved for QIBs. The company said it will use Rs 750 crore from the new share sale to meet its future capital requirements. While the remaining amount will be used for other general corporate purpose.
