Aadhar Housing Finance shares make flat market debut

| | New Delhi
  • 0

Aadhar Housing Finance shares make flat market debut

Thursday, 16 May 2024 | PTI | New Delhi

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 Rs 315. The stock listed at par with the issue price at Rs 315 on the NSE. It later hit a high of Rs 329.90 and a low of Rs 292. On the BSE, the stock made its debut at Rs 314.30, a dip of 0.22 per cent from the issue price.

The company’s market valuation stood at Rs 13,480.12 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 Rs 3,000-crore initial share-sale was a combination of fresh issue of equity shares worth Rs 1,000 crore and an OFS (Offer-for-Sale) of Rs 2,000 crore by promoter BCP Topco VII Pte Ltd, an affiliate of Blackstone Group Inc. The three-day IPO had a price range of Rs 300-315 a share.

The company plans to utilise Rs 750 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.

Sunday Edition

DIWALI | Festival that Unites Hearts and Homes

27 October 2024 | SAKSHI PRIYA | Agenda

Celebrate India's diverse culinary landscape

27 October 2024 | Sharmila Chand | Agenda

A HEALTHY DIWALI

27 October 2024 | Team Agenda | Agenda

A Taste of Italy at Farmer’s Basket

27 October 2024 | Gyaneshwar Dayal | Agenda

Go green this diwali

27 October 2024 | Divya Bhatia | Agenda

A Night of Dandiya and Festive Cheer

27 October 2024 | SAKSHI PRIYA | Agenda