The initial public offering (IPO) of Aadhar Housing Finance, worth ₹3,000 crore, is all set to open on May 8.
What Happened: The Aadhar IPO comprises a fresh issue of equity shares worth ₹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.
BCP Topco currently holds a 98.72% stake in the housing finance company, with ICICI Bank owning the remaining 1.18% stake. The company intends to utilise ₹750 crore from the fresh issue proceeds to meet future capital requirements for onward lending purposes, with a portion also allocated for general corporate purposes.
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Last month, Aadhar Housing Finance received approval from the Securities and Exchange Board of India to proceed with its IPO.
Aadhar Housing Finance offers a diverse range of mortgage-related loan products, catering primarily to the low-income housing segment. Its offerings include loans for residential property purchase and construction, home improvement and extension loans, and commercial property construction and acquisition.
As of September 30, 2023, the company boasts a robust network of 471 branches, including 91 sales offices.
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