Aadhar Housing sets IPO price band at Rs 300-315
Aadhar Housing Finance’s initial offering is a combination of a fresh issue of equity shares worth Rs1,000 cr and an OFS of Rs2,000 cr
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New Delhi: Aadhar Housing Finance Ltd, which is backed by private equity major Blackstone, on Thursday said it has fixed a price band of Rs300 to Rs315 a share for its Rs3,000-crore initial public offering. The initial share sale will be open for public subscription during May 8-10 and the bidding for anchor investors will open for a day on May 7, the company said in a statement. This will be the third maiden public issue opening next week after TBO Tek and Indegene.
Aadhar Housing Finance’s initial public offering (IPO) is a combination of a fresh issue of equity shares worth Rs1,000 crore and an offer for sale (OFS) of Rs2,000 crore by promoter BCP Topco VII Pte Ltd, an affiliate of Blackstone Group Inc. Currently, BCP Topco holds a 98.72 per cent stake in Aadhar Housing Finance and ICICI Bank owns a 1.18 per cent stake. The company plans to utilise Rs750 crore of the fresh issue proceeds to meet future capital requirements towards onward lending and a portion will also be used for general corporate purposes.
Amit Dixit, Head of Private Equity Asia at Blackstone, said: “The listing is a significant milestone for Aadhar Housing Finance and its transformation is a great example of what we do best: building businesses that build India.
