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Aadhar Housing Finance Ltd. Announces ₹3,000 Crore IPO

Aadhar Housing Finance has the highest total revenue among the companies listed, indicating a large customer base and loan portfolio

Ahmedabad, May 3: Blackstone-promoted Aadhar Housing Finance Ltd., a key player in the affordable housing lending sector, has unveiled its plans to launch an initial public offering (IPO) worth ₹3,000 crore. The IPO is slated to open on Wednesday, May 8, 2024. This move comes as the company aims to capitalize on the growing demand for affordable housing in India.

The IPO opens on May 8 and closes on May 10. AHFL is focused on the low income housing segment (average ticket size of ₹10 lakh). The IPO comprises fresh issue of equity shares aggregating up to ₹1,000 crore and an offer an offer for sale (OFS) of equity shares aggregating up to ₹2,000 crore.

Aadhar Housing Finance Ltd. has set the price band for the IPO at ₹300-₹315 per equity share, with a face value of ₹10 each. The offering comprises a fresh issue of 31,746,032 shares, totaling ₹1,000 crore, and an offer for sale of 63,492,063 shares, amounting to ₹2,000 crore. The IPO is a significant step for the company, valued at ₹13,000 crore, as it looks to expand its footprint in the affordable housing market.

Top management team of Aadhar Housing Finance Ltd was in Ahmedabad to discuss and interact with the media about the company’s forthcoming IPO issue.

The company, registered with the National Housing Bank and regulated by the Reserve Bank of India, primarily serves low-income customers with an average loan size of ₹9 lakh. Aadhar Housing Finance Ltd. plans to utilize ₹750 crore from the IPO proceeds to meet future capital requirements for lending, with the remainder earmarked for general corporate purposes.

Commenting on the IPO, Rishi Anand, Managing Director & Chief Executive Officer of Aadhar Housing Finance Ltd., stated, “This is a significant milestone in our journey towards empowering individuals and families with the keys to their own homes. With the true meaning of ‘Ghar Banega, Toh Desh Banega’, we embrace the responsibility of nation-building and laying a foundation for stronger communities.”

Aadhar Housing Finance Ltd. is backed by Blackstone, with BCP Topco currently holding a 98.72% stake in the company, while ICICI Bank owns 1.18% stake. Blackstone, through its Head of Private Equity Asia, Amit Dixit, expressed pride in the company’s transformation and growth, emphasizing their commitment to building businesses that contribute to India’s progress.

Aadhar Housing Finance Ltd., valued at Rs 13,000 crore, is geared up to launch its Rs 3,000 crore initial public offering (IPO) on May 8. Backed by Blackstone, the company specializes in providing affordable housing finance solutions, particularly targeting low-income customers with an average loan size of Rs 9 lakh. With its widespread presence across India, Aadhar Housing Finance Ltd. is committed to its customer-centric approach, aiming to help underserved individuals fulfil their dream of owning a home. The IPO is expected to not only bolster the company’s position in the affordable housing finance sector but also fuel its growth trajectory.

Rishi Anand, Managing Director & Chief Executive Officer of Aadhar Housing Finance Ltd, Deo Shankar Tripathy, Executive Vice President, Rajesh Vishwanathan, CFO, Sanjay Moolchandani and Rajat Rawal, the Vice President and Head of ICICI Securities were all present at the Ahmedabad press meet on Friday.





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