Aadhar Housing Finance IPO: The housing finance firm, supported by Blackrock, is presenting its shares within a price range of Rs 300 to Rs 315 per share.
In short
- The Aadhar Housing Finance IPO has commenced to raise Rs 3,000 crore.
- The shares are available at a price range of Rs 300 to Rs 315 per share, with a minimum investment requirement of Rs 14,805.
- Allocation finalization is scheduled for May 13, followed by the company’s debut on stock exchanges on May 15.
On Wednesday, the initial public offering (IPO) of Aadhar Housing Finance Limited commenced, to raise Rs 3,000 crore. This housing finance firm, supported by Blackrock, is offering its shares within a price bracket of Rs 300 to Rs 315 per share. Investors interested in subscribing to this IPO have until May 10 to do so, with the minimum lot size set at 47 shares, necessitating a minimum investment of Rs 14,805.
The company aims to conclude the basis of share allotment by May 13 and anticipates commencing refunds on May 14. Aadhar Housing Finance is slated to make its stock exchange debut on May 15.
Is it advisable to subscribe to the Aadhar Housing Finance IPO?
According to Rajan Shinde, a Research Analyst at Mehta Equities Ltd, the company has demonstrated significant growth in revenue from operations and net profit in FY 2023, with increases of 18.2% and 22.5% respectively, leading to a ‘Subscribe’ rating.
Expanding into tier 4 and tier 5 towns indicates promising growth potential. Therefore, taking all factors into account, we advise investors to ‘Subscribe’ to the issue for long-term prospects, recommended Rajan Shinde, Research Analyst at Mehta Equities Ltd.
What is the current grey market premium (GMP) for the Aadhar Housing Finance IPO?
As of the morning of May 8, 2024, the grey market premium (GMP) for the Aadhar Housing Finance IPO is Rs 70.
Considering the price band of Rs 315 per share, the projected listing price for the IPO would amount to Rs 385 (price band + GMP).
This indicates an anticipated gain of 22.22% per share.
Overview of Aadhar Housing Finance Limited
The net proceeds from the IPO are earmarked by the Company for meeting future capital requirements related to lending activities and for general corporate purposes.
Established in 2010, Aadhar Housing Finance Limited specializes in providing housing finance solutions tailored to the lower-income segments.
Utilizing deep-impact branches and sales offices, the company serves customers in tier 4 and tier 5 towns across India.
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Aadhar Housing Finance Limited has exhibited robust financial growth, marked by a notable 18.22% increase in revenue and a commendable 22.22% rise in profit after tax (PAT) from the fiscal year ending March 31, 2022, to March 31, 2023.
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