Aadhar Housing Finance IPO listing: Stock makes muted debut, lists at ₹315 on NSE, same as IPO price
₹315 on NSE, same as its issue price. Meanwhile, on BSE, the stock listed at ₹314.30, a discount of 0.22 percent. The ₹3,000 crore initial public offering (IPO) of Aadhar Housing Finance was open for subscription between May 8, 2024 - May 10, 2024, with a price band in the range of ₹300-315.
On Tuesday, May 7, the Aadhar Housing Finance IPO raised ₹898 crore from anchor investors. The Aadhar Housing Finance IPO allotted 35 percent of the issue size to retail investors, 15 percent to non-institutional investors (NIIs), and 50 percent to eligible institutional purchasers. Employees of the company were entitled for a discount of ₹23 per share.
Aadhar Housing witnessed strong subscriptions in all categories in the 3 days of bidding. Overall, it was subscribed 26.76 times. Investors bid for 178.65 crore shares as against 6.67 crore on offer.
The QIB portion was subscribed the most, 76.42 times followed by the NII category, which was bud 17.33 times. Meanwhile, the employee part was subscribed 6.88 times and the retail portion 2.58 times. The issue was a combination of a fresh issue of 3.17 crore shares aggregating to ₹1,000 crore and an offer for sale of 6.35 crore shares aggregating to ₹2,000 crore by promoter BCP Topco VII Pte Ltd, a Blackstone Group affiliate.
BCP Topco owned 98.7 percent of the pre-offer issued, subscribed, and paid-up equity share capital. The firm has proposed to utilize the net Proceeds from the IPO to fulfill future capital requirements for more lending as well as use the net proceeds for general corporate operations. SBI Capital Markets Limited, ICICI Securities Limited, Kotak Mahindra Capital Company Limited, Nomura Financial Advisory and Securities (India) Pvt Ltd, and Citigroup Global Markets
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