Aadhar housing finance IPO: Aadhar Housing Finance Ltd has submitted preliminary documents to capital markets regulator Sebi to raise Rs 5,000 crore through the issue.
According to the red draft, the IPO includes fresh issue of shares worth Rs 1,000 crore and an offer for sale (OFS) of Rs 4,000 crore from promoters of BCP Topco VII Pte Ltd, an affiliate of Blackstone Group Inc. The Herring Prospectus (DRHP) was filed on Wednesday.
Aadhar Housing Finance is backed by private equity major Blackstone.
Currently, BCP Topco holds 98.72% stake in Aadhar Housing Finance. The company plans to use the Rs 750-crore proceeds from the fresh issue to meet capital requirements for continued borrowings in the future, a portion of which will also be used for general corporate purposes.
Aadhar Housing Finance offers a range of mortgage-related loan products, including residential property purchase and construction loans; home improvement and extension loans; and loans for commercial property construction and acquisitions.
As of September 30, 2023, the company had a network of 471 branches, including 91 sales offices. Previously, Aadhar Housing submitted a draft document to Sebi in January 2021 to raise Rs 7,300 crore through an initial share sale.
It received regulatory approval for a public offering in May 2022, but did not proceed with the offering. Mahindra Capital Company, Nomura Financial Advisory and Securities (India) and SBI Capital Markets are the book-running lead managers for the public issue.
(Using input from PTI)
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