Produced by: Pawan Kumar Nahar
The initial public offering (IPO) on Aadhar Housing Finance opens today on May 8 and can be subscribed till Friday, May 10. The company is offering its shares in the range of Rs 300-315 apiece, with a lot size of 47 equity shares and its multiples thereafter
Aadhar Housing Finance is looking to raise a total of Rs 3,000 crore via IPO including a fresh share sale of Rs 1,000 crore and offer for sale (OFS) of up to 6,34,92,963 equity shares. The company raised Rs 897.9 crore from anchor investors.
Aadhar Housing Finance has reserved shares worth Rs 7 crore for its eligible employees, who will get a discount of Rs 23 per share. Of the net offer, 50% shares are reserved for the qualified institutional bidders (QIBs), 15% per for non-institutional investors (NIIs) and 35% for the retail investors.
On the first day of the bidding, shares of Aadhar Housing Finance were commanding a grey market premium (GMP) of Rs 70-75 apiece, suggesting a listing gain of 22-23% to the investors on the upper end of the price band.
Aadhar Housing Finance is likely to finalize the basis of allotment of its shares on Monday, May 13. The company will make its Dalal Street debut on Wednesday, May 15 on both BSE and NSE.
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.
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