Aadhar Housing Finance IPO: Value band set at ₹300-315 per fairness share

Aadhar Housing Finance Ltd (AHFL) has set a value band mounted at ₹300 to ₹315 per fairness share of face worth of ₹10 every for its upcoming ₹3,000 crore preliminary public supply (IPO). The IPO opens on Could 8 and closes on Could 10.

AHFL is targeted on the low revenue housing phase (common ticket dimension of ₹10 lakh).

The IPO contains contemporary difficulty of fairness shares aggregating as much as ₹1,000 crore and a suggestion a suggestion on the market (OFS) of fairness shares aggregating as much as ₹2,000 crore.

The promoting shareholder within the OFS is BCP Topco VII Pte Ltd, which is an affiliate of funds managed and/or suggested by associates of Blackstone Group Inc. Its weighted common price of acquisition per AHFL fairness share is ₹80.54.

BCP Topco at the moment holds 98.72 per cent of the housing finance firm’s (HFC) pre-offer issued, subscribed and paid-up fairness share capital. ICICI Financial institution holds 1.18 per cent stake within the HFC.

AHFL stated bids might be made for at least 47 fairness shares and in multiples of 47 fairness shares thereafter.

The corporate intends to make use of the web proceeds from the contemporary difficulty to satisfy future capital necessities (₹750 crore) in direction of onward lending and basic company functions.

9M internet up

Internet revenue within the 9 months ended December 31, 2023, rose about 36 per cent year-on-year to ₹548 crore (₹404 crore within the 12 months in the past interval). As on December-end 2023, Gross belongings below administration/retail AUM rose about 20 per cent to ₹19,865 crore (₹16,566 crore as on December-end 2022).

Gross non-performing belongings (NPA) to retail AUM and internet NPA to retail AUM stood at 1.4 per cent and 1 per cent, respectively, as on December-end 2023.

Rishi Anand, MD & CEO, AHFL, stated the IPO is a major milestone within the firm’s journey in direction of empowering people and households with the keys to their very own homes.

Mukesh Mehta, Senior Managing Director, Blackstone Non-public Fairness, stated: “It’s rewarding to be part of Aadhar Housing Finance Restricted’s mission to allow underserved Indians to personal houses and play a task within the firm’s transformation and development. Our precedence has been to construct by shut alignment with the corporate’s management and utilizing Blackstone’s entry to capital, assets, and our know-how experience.”