Aadhar Housing Finance gets listed almost at par

15 May 2024 , 09:50 AM

Aadhar Housing Finance made its debut on the stock exchanges with its shares listing at par. On the National Stock Exchange (NSE), the company is listed at an issue price of ₹315, while on the Bombay Stock Exchange (BSE), it is listed at ₹314.30, marking a marginal decrease of 0.22%.

As of the third day since its listing, the IPO has garnered an overall subscription of 26 times. The retail portion has been subscribed 2.58 times, while the Non-Institutional Investor (NII) portion has seen a substantial subscription of 17.33 times. Notably, the Qualified Institutional Buyer (QIB) segment has witnessed the highest subscription rate, with bidding reaching 76 times the allotted quota.

The IPO, comprising a fresh equity issue worth up to ₹1,000 Crore and an offer for sale (OFS) of up to ₹2,000 Crore, attracted significant investor interest, closing nearly 26 times oversubscribed.

The proceeds from the fresh issue are earmarked for general corporate purposes and to meet future capital requirements towards onward lending activities.

Aadhar Housing Finance stands out as one of the largest low-income housing finance companies in India, catering to the home financing needs of the economically weaker sections of society. The company’s mission is to empower underserved individuals to realize their dream of homeownership.

Initially incorporated as Aadhar Housing Finance Limited in 2010, the company underwent a significant development when it merged with DHFL Vysya, effective from November 20, 2017. Subsequently, it was rebranded as Aadhar Housing Finance Limited. With the merger, Aadhar has strengthened its position in the market, boasting a pan-India presence to better serve its customers’ needs.

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