Blackstone-backed Aadhar Housing files Rs 5,000 crore IPO papers with Sebi | Top Vip News

Aadhar Housing Finance IPO: Aadhar Housing Finance Ltd has filed preliminary documents with capital markets regulator Sebi to raise Rs 5,000 crore through the offer.

The IPO is a combination of a fresh issue of shares worth Rs 1,000 crore and an offer for sale (OFS) of Rs 4,000 crore by promoter BCP Topco VII Pte Ltd, a subsidiary of Blackstone Group Inc, according to the Draft Red. Herring Prospectus (DRHP) presented Wednesday.

Aadhar Housing Finance is backed by private equity major Blackstone.

Currently, BCP Topco holds a 98.72 per cent stake in Aadhar Housing Finance. The company proposes to utilize the proceeds from the fresh issue to the tune of Rs 750 crore to meet future capital requirements for subsequent borrowings and a portion will also be utilized for general corporate purposes.

Aadhar Housing Finance offers a range of mortgage-related loan products, including loans for the purchase and construction of residential properties; loans for home improvements and additions; and loans for the construction and acquisition of commercial properties.

It has a network of 471 branches, including 91 sales offices, as of September 30, 2023. Earlier, Aadhar Housing filed draft documents with Sebi in January 2021 to raise Rs 7,300 crore through an initial share sale.

It had received the go-ahead from the regulator to take the public issue public in May 2022, however, it did not go ahead with the launch. Mahindra Capital Company, Nomura Financial Advisory and Securities (India) and SBI Capital Markets are the lead managers of the public issue.

(With input from PTI)