Aadhar Housing Finance IPO, of ₹3000.00 Cr opens for subscription from 08-05-2024 to 10-05-2024. The IPO consists of ₹1000.00 Cr fresh issue and ₹2000.00 Cr offer for sale.
The face value is Rs 10, and the price band is fixed at 300.00 – 315.00 per share. You can apply to the Aadhar Housing Finance Mainline IPO for a minimum lot of 47 shares amounting of Rs 14805.
Aadhar Housing Finance IPO dates.
Ahead of the issue, Aadhar Housing Finance IPO is commanding a premium of ₹51 per share in the grey market on May 5, against ₹55 per share on May 4, according to market observers.
This means that the estimated listing price of Aadhar Housing Finance IPO could be ₹366, which is 16.19% more than the IPO price of ₹315.
As per investorgain.com, the lowest GMP of Aadhar Housing Finance is ₹0, while the highest GMP is ₹130.
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Aadhar Housing Finance IPO details
The company intends to raise ₹3,000 crore from the issue at the higher end of the price band. The Aadhar Housing Finance IPO includes a fresh issue of 3.17 crore equity shares, totaling ₹1,000 crore, and an offer for sale (OFS) component of 6.35 crore shares, totaling ₹2,000 crore.
The lot size for the IPO comprises 47 shares, with a minimum investment threshold of ₹14,805 mandated for retail investors. Additionally, the company extends a discount of ₹23 per share to its employees. The allocation of Aadhar Housing Finance IPO shares is anticipated to be concluded by May 13, followed by their listing on May 15 at both the BSE and NSE.
The company plans to utilize the net proceeds from the issue to fulfill future capital needs for onward lending and general corporate purposes.
Aadhar Housing Finance provides housing finance solutions to the lower income demographic. Its customer base primarily resides in tier 4 and tier 5 towns across India. By September 30, 2023, the company boasted a network of 471 branches, alongside 91 sales offices, spanning across 20 states and union territories.
During the financial year 2022-2023, Aadhar Housing Finance achieved a net profit of ₹545.34 crore, generated from a revenue of ₹2,043.52 crore.
Aadhar Housing Finance IPO Strengths
- HFC focused on the low-income housing segment (ticket size less than ₹1.5 million) in India with the highest AUM and net worth among our analyzed peers in six months ended September 30, 2023.
- Seasoned business model with strong resilience through business cycles.
- Extensive branch and sales office network, geographical penetration and sales channels which contribute significantly to loan sourcing and servicing.
- Robust, comprehensive systems and processes for underwriting, collections and monitoring asset quality.
- Access to diversified and cost-effective long-term financing with a disciplined approach to asset liability and liquidity management.
- Social objectives are one of the core components of our business model.
- Experienced, cycle-tested and professional management team with strong corporate governance.
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