Aadhar Housing Finance IPO: Issue subscribed 0.32 times on day 1, check subscription status, GMP and other details
Aadhar Housing Finance IPO to open today; Here are 10 things to know before you subscribe to the issue Aadhar Housing Finance specializes in providing housing finance solutions to the lower-income segment. Its customer base predominantly resides in tier 4 and tier 5 cities across India. As of September 30, 2023, the company operated a network of 471 branches and 91 sales offices, covering 20 states and union territories.
The Aadhar Housing Finance IPO received 2,22,06,795 shares against offered 7,00,89,373 shares on the first day of bidding. The issue was subscribed over 0.32 times on May 8, as per BSE data. The retail portion was subscription 0.28 times, meanwhile, NII and QIB was subscribed over 0.37 and 0.33 times on the first day.
The company aims to raise ₹3,000 crore from the issuance at the upper end of the price range. Blackstone-backed company's issue has set the price range for its forthcoming IPO at ₹300 to ₹315 per share. The Aadhar Housing Finance IPO involves a fresh issue of 3.17 crore equity shares, amounting to ₹1,000 crore, along with an offer for sale (OFS) component of 6.35 crore shares, totaling ₹2,000 crore.
Also read: Aadhar Housing Finance IPO to open on May 8; what does GMP indicate before subscription? The IPO's lot size consists of 47 shares, with a minimum investment requirement of ₹14,805 for retail investors. Additionally, the company offers a discount of ₹23 per share to its employees. Allocation of Aadhar Housing Finance IPO shares is expected to be completed by May 13, with listing scheduled for May 15 on both the BSE and NSE.
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