Aadhar Housing Finance IPO day 1: Issue subscribed 0.9 times so far

8 May 2024 , 11:44 AM

The Aadhar Housing Finance IPO commenced its subscription today, Wednesday, May 8, and will conclude on Friday, May 10. The IPO price band for this Blackstone-backed business has been set at ₹300 to ₹315 per share. Notably, the Aadhar Housing Finance IPO raised ₹898 crore from anchor investors on Tuesday, May 7. Interested investors can place bids for multiples of 47 shares, with a minimum bid of 47. Click here to subscribe to the IPO.

As of day 1, the IPO has been subscribed 0.9 times by 11:40 AM. The retail portion of the IPO has received a subscription of 0.12 times, while the non-institutional investors’ portion stands at 0.11 times. The employees’ portion of the IPO has been subscribed 0.78 times thus far.

Aadhar Housing Finance IPO has allocated 35% of the issue size to retail investors, 15% to non-institutional investors (NIIs), and 50% to qualified institutional buyers (QIBs). Additionally, the company is offering a discount of ₹23 per share to its employees.

Founded in 2010, Aadhar Housing Finance Limited focuses on providing housing finance solutions, particularly targeting lower income groups. The company’s sales offices in tier 4 and tier 5 towns cater to customers in these segments.