The grey market premium (GMP) of Aadhar Housing Finance has seen a correction after the dull listing of Indegene shares and its muted listing day performance on the maiden trading session. The listing-bound player has seen a decent fall in the GMP in the last few hours, just before it is likely to finalize the allotment of its shares.
Last heard, shares of Aadhar Housing were commanding a grey market premium of Rs65 apiece, suggesting a listing pop of around 21 per cent for the investors. However, its premium in the unofficial market stood at Rs 75-80 levels, when the issue closed for bidding on May 10. The then GMP signaled up to 25 per cent listing pop for the investors.
The latest dip in the secondary markets, spurred by election-related uncertainty and the underwhelming listing of Indegene Ltd, is dampening the prospects for TBO Tek's listing. Furthermore, if market sentiments persist weak, there's a possibility of further correction in the GMP.
Bidders for the IPO of the housing finance firm will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate either over the weekend or latest by Tuesday May 14. The company is set to make its Dalal Street debut on Wednesday, May 15, 2024.
The IPO of Bengaluru-based Aadhar Housing was sold in the fixed price band of Rs 300-315 per share with a lot size of 47 shares. It was open for bidding between May 8 and May 10. The company raised Rs 3,000 crore via its primary offering, which included a fresh share sale of Rs 1,000 crore and an offer-for-sale (OFS) of up to 6,34,92,063 equity shares.
The issue saw a solid bidding and was overall subscribed 25.49 times. The quota for qualified institutional bidders (QIBs) was booked a solid 72.78 times The quota for non-institutional investors was subscribed 16.80 times. The portions reserved for retail investors and employees saw bidding for 2.46 times and 6.52 times, respectively during the three-day bidding process.
ICICI Securities, Citigroup Global Markets India, Kotak Mahindra Capital, Nomura Financial Advisory and SBI Capital Markets are the book running lead managers of the Aadhar Housing Finance IPO, while Kfin Technologies is the registrar. Brokerage firms are mostly positive on the issue, suggesting investors to subscribe to it.
Incorporated in 2010, Aadhar Housing Finance is a housing finance company targeting the lower income segment. The deep impact branches' sales offices aim to serve customers in India's tier 4 and tier 5 towns. It provides a variety of mortgage loan products for residential and commercial property purchase and construction, home improvement and extension.
Investors, who had bid for the issue of Aadhar Housing Finance, can check the allotment status on the Bombay Stock Exchange (BSE) website. Also, Investors can also check the allotment status on the online portal of KFin Technologies.
Allotment Status on BSE's website 1) Visit https://www.bseindia.com/investors/appli_check.aspx 2) Under the issue type, click Equity 3) Under the issue name, select TBO Tek Ltd in the dropbox 4) Write the application number 5) Add the PAN card ID 6) Click on 'I am not a Robot' and hit submit.
Allotment Status via registrar 1) Go to the web portal of KFin Technologies (https://kosmic.kfintech.com/ipostatus) 2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized 3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID 4) In application type, select between ASBA and non-ASBA 5) Enter the details of the mode you selected in Step 2 6) For security purposes, fill the captcha accurately 7) Hit submit.