Three-day IPO had a price range of Rs300-315 a share
Mumbai: Shares of Aadhar Housing Finance Ltd, which is backed by private equity major Blackstone, made a flat market debut on Wednesday against the issue price of Rs315.
The stock listed at par with the issue price at Rs315 on the NSE. It later hit a high of Rs329.90 and a low of Rs292.
On the BSE, the stock made its debut at Rs314.30, a dip of 0.22 per cent from the issue price.
The company’s market valuation stood at Rs13,480.12 crore.
The initial public offer of Aadhar Housing Finance received 25.49 times subscription on the closing day of the share-sale on Friday.
The Rs3,000-crore initial share-sale was a combination of fresh issue of equity shares worth Rs1,000 crore and an OFS (Offer-for-Sale) of Rs2,000 crore by promoter BCP Topco VII Pte Ltd, an affiliate of Blackstone Group Inc.
The three-day IPO had a price range of Rs300-315 a share.
The company plans to utilise Rs750 crore of the fresh issue proceeds to meet future capital requirements towards onward lending, while a portion will be used for general corporate purposes.
Aadhar Housing Finance offers a range of mortgage-related loan products, including loans for residential property purchase and construction; home improvement and extension loans; and loans for commercial property construction and acquisition.
The housing finance company is focused on the low-income housing segment, serving economically weaker and low-to-middle-income customers, who require small-ticket mortgage loans. It has a network of 471 branches, including 91 sales offices, as of September 30, 2023.
The company benefits from the resources, relationships and expertise of Blackstone, one of the world’s leading investment firms.
