Aadhar Housing Finance IPO day 3: GMP, subscription status to review. Apply or not?
Aadhar Housing Finance IPO Day 3: The initial Public Offering (IPO) of Aadhar Housing Finance Limited hit the Indian primary market on 8th May 2024 and bidding for this public issue will end today evening. This means investors have just one day in hand to apply for the public offer. The company has fixed Aadhar Housing Finance IPO price band at ₹300 to ₹315 per equity share.
The book build issue is a mix of fresh shares and OFS (Offer For Sale). The company aims to raise ₹1000 crore from fresh shares while the rest ₹2000 crore is reserved for the OFS route. Meanwhile, premium of the Aadhar Housing Finance shares have surged in the grey market after the bidding began for the book build issue.
According to stock market observers, shares of the company are available at a premium of ₹70 in the grey market today. They said that rise in the Aadhar Housing Finance IPO grey market premium (GMP) can be attributed to the strong Aadhar Housing Finance IPO subscription status after two days of bidding. Market observers have noted that the Aadhar Housing Finance IPO grey market premium (GMP) today is ₹70, a significant increase from Thursday's GMP of ₹52.
This rise, despite weak trends on Dalal Street, is a testament to the positive sentiments surrounding the IPO. They anticipate a strong debut of shares on the listing date, further fueling optimism. By 10:27 AM on day 3 of bidding, the public issue was subscribed 1.68 times while the retail portion of the book build issue was booked 1.10 times.
The NII portion was booked 2.49 times whereas its QIB segment got subscribed 2.05 times. BP Equities, a leading financial institution, has given a 'subscribe' rating to the Aadhar Housing Finance IPO. They believe that the stock, valued at
. Read more on livemint.com
