The Initial Public Offering (IPO) of Aadhar Housing Finance Limited, a company catering housing loans to low-income individuals, is set to commence on May 8th.The company aims to raise Rs 3,000 crore through this initial public offering (IPO).
Fundraising Details
The company aims to raise Rs 3,000 crore through this IPO. Of this, Rs 1,000 crore will be generated by issuing new shares, while Rs 2,000 crore will be raised through Offer for Sale (OFS), involving the sale of 6.35 crore shares.
Promoter and Fund Details
The sale of shares worth Rs 2,000 crore will be executed by promoter BCP Topco, managed by affiliate firms of Blackstone Group. BCP Topco Pte holds a 98.72 percent stake in Aadhar Housing Finance.
IPO Timeline and Price Band
Retail investors can participate in the Aadhar Housing Finance IPO starting from May 8th until May 10th. The price band for this IPO has been fixed at ₹300 to ₹315 per share.
Notably, unlisted shares of Aadhar Housing Finance are trading at a premium in the gray market.he company’s shares are scheduled to be listed on the National Stock Exchange (NSE)
and Bombay Stock Exchange (BSE) on May 15th. The IPO price band is set at ₹300 to ₹315 per share.with the public issue closing on May 10th
Investment Details
The minimum investment required is ₹14,805, equivalent to one lot of 47 shares in the IPO. Retail investors can bid for a maximum of 13 lots (611 shares), requiring an investment of ₹199,892.
Allocation Details
In the IPO, 35 percent of the shares are reserved for retail investors, while Qualified Institutional Buyers (QIBs) have access to a maximum of 50 percent. The remaining 15 percent is allocated to non-institutional investors (NIIs).
Grey Market Premium (GMP)
According to IPOwatch, unlisted shares of Aadhar Housing Finance are trading at a premium of Rs 130 in the grey market. This suggests a potential market price of Rs 445 per share. However, it’s important to note that a premium in the grey market doesn’t guarantee a premium listing.
However, it’s important to note that while shares may trade at a premium in the grey market, their listing price may not necessarily reflect this premium; the opposite outcome is also possible.
