Blackstone-backed Aadhar Housing Finance’s Rs 3,000-cr IPO to open on Could 8

Aadhar Housing Finance Ltd, which is backed by non-public fairness main Blackstone, is about to launch its ₹3,000-crore preliminary public providing (IPO) on Could 8.

The preliminary share-sale will conclude on Could 10 and the bidding for anchor traders will open for a day on Could 7, based on the Purple Herring Prospectus (RHP).

The IPO is a mixture of a contemporary problem of fairness shares value ₹1,000 crore and an offer-for-sale (OFS) of ₹2,000 crore by promoter BCP Topco VII Pte Ltd, an affiliate of Blackstone Group Inc.

At present, BCP Topco holds a 98.72 per cent stake in Aadhar Housing Finance and ICICI Financial institution owns 1.18 per cent stake.

The corporate plans to utilise ₹750 crore of the contemporary problem proceeds to satisfy future capital necessities in the direction of onward lending and a portion can even be used for common company functions.

Earlier this month, Aadhar Housing Finance acquired SEBI’s go-ahead to drift the IPO.

Aadhar Housing Finance affords a spread of mortgage-related mortgage merchandise, together with loans for residential property buy and building; house enchancment and extension loans; and loans for business property building and acquisition.

The corporate is an HFC centered on the low-income housing section, serving economically weaker and low-to-middle revenue clients, who require small ticket mortgage loans.

It has a community of 471 branches, together with 91 gross sales workplaces, as of September 30, 2023. The corporate advantages from the sources, relationships and experience of Blackstone, one of many world’s main funding corporations.

ICICI Securities, Citigroup International Markets India Pvt Ltd, Kotak Mahindra Capital Firm Ltd, Nomura Monetary Advisory and Securities (India) Pvt Ltd and SBI Capital Markets are the book-running lead managers to the difficulty.