IPO

Aadhar Housing Finance Limited IPO

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Housing Finance Company

Listed On: May 15, 2024 at ₹ 315.0(NSE)

₹ 14805 /47 Shares

Check Allotment

08 May, 2024

Open Date

10 May, 2024

Close Date

13 May, 2024

Allotment Date

15 May, 2024

Listing Date
Price Summary

Last Closing

480.00 (52.38%)

52 Week High

547.80

52 Week Low

346.05

Last Update

18-Dec-2025 3:30 PM
Aadhar Housing Finance Limited IPO Issue Details
  • Issue Price ₹300-315 per equity share
  • Face Value ₹10 Per Equity Share
  • Total Issue Size 9,52,38,095 shares(aggregating up to ₹3000 crore)
  • Fresh Share 3,17,46,032 shares(aggregating up to ₹1000 crore)
  • Offer For Sale 6,34,92,063 shares(aggregating up to ₹2000 crore)
  • Listing at BSE, NSE
  • List Price 315.0(NSE)
  • Listing Date 2024-05-15
  • Lead Manager ICICI Securities Limited
    Citigroup Global Markets India Private Limited
    Kotak Mahindra Capital Company Limited
    Nomura Financial Advisory And Securities (India) Pvt Ltd
    SBI Capital Markets Limited
  • Registrar Kfin Technologies Limited
Market Lot Size

Investors can bid for a minimum of 47 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (min) 1 47 ₹14,805
Retail(max) 13 611 ₹1,92,465
Aadhar Housing Finance Limited IPO Reservation

Aadhar Housing Finance Limited IPO offers total 95,255,600 shares. Out of which 19,003,176 (19.95%) allocated to QIB, 14,252,381 (14.96%) allocated to NII,33,255,556 (34.91%) allocated to RII, 239,726 (0.25%) allocated to employees and 28,504,761 (29.92%) allocated to Anchor investors.

Investor Category Shares Offered Maximum Allottees
Anchor Investor Shares Offered 28,504,761 (29.92%)
QIB Shares Offered 19,003,176 (19.95%)
NII (HNI) Shares Offered 14,252,381 (14.96%)
bNII > ₹10L 9,501,587 (9.97%)
sNII < ₹10L 4,750,794 (4.99%)
Retail Shares Offered 33,255,556 (34.91%)
Employee Shares Offered 239,726 (0.25%)
Total Shares Offered 95,255,600 (100%)
Aadhar Housing Finance Limited IPO Documents
DRHP
RHP
ANCHOR
Aadhar Housing Finance Limited IPO Details


Aadhar Housing Finance Limited IPO is a book-built issue of ₹3000 crores, The total issue size is ₹3000 crores. The IPO of Aadhar Housing Finance Limited is priced at ₹300-315 per equity share, which has a face value of ₹10 Per Equity Share each, IPO bidding starts from May 8, 2024 and ends on May 10, 2024. The allotment for Aadhar Housing Finance Limited IPO will be finalized on May 13, 2024. Aadhar Housing Finance Limited IPO will be listed on BSE, NSE, with a tentative listing date fixed as May 15, 2024. The company shall list its equity shares on the BSE, NSE. Kfin Technologies Limited is the registrar of the issue.

Retail investors can bid for a minimum of 47 shares, extendable to 14,805. The book-running lead manager for the IPO is/are ICICI Securities Limited, Citigroup Global Markets India Private Limited, Kotak Mahindra Capital Company Limited, Nomura Financial Advisory And Securities (India) Pvt Ltd, SBI Capital Markets Limited.

The total issue ₹3000 crore, comprising a fresh issue of 3,17,46,032 shares ₹1000 crore and having Offer for Sale (OFS) of 6,34,92,063 shares to mop up ₹2000 crore.

The Aadhar Housing Finance Limited IPO sets its price band at 300-315 for each share. A single application for Aadhar Housing Finance Limited IPO must contain at least 47 shares. Sentiment investors need to invest a minimum of 47 through their retail account. For investors to prevent oversubscription issues, they should submit bids at the cutoff price, which estimates about ₹14,805

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Aadhar Housing Finance Limited IPO Subscription Analysis And Details
Retail
2.45x
QIB
72.78x
NII
16.50x
bNII
18.00x
sNII
13.50x
Total
25.49x
As on QIB NII
bNII   sNII 		Retail Total
Shares Offered / Reserved 19,003,176 14,252,381
9,501,587    4,750,794 		33,255,556 66,750,839
Day 1 08-05-24 05:00 PM
0.33 x 0.60
0.54 x   0.71 x 		0.41 x 0.44 x
Day 2 09-05-24 05:00 PM
2.05 x 1.94
1.82 x   2.17 x 		0.94 x 1.48 x
Day 3 10-05-24 05:00 PM
72.78 x 16.50
18.00 x   13.50 x 		2.45 x 25.49 x
Total No of Applications
16,32,973
Subscription on the basis of Applications
Retail:2.31x BHNI:3.5x SHNI:13.5x
Aadhar Housing Finance Limited Valuations
EPS Pre IPO ₹13.81/-
EPS Post IPO ₹17.13/-
P/E Pre IPO 22.8
P/E Post IPO 18.39
ROE 18.4%
Debt/Equity 3.10
RoNW 12.9%
Price to Book Value 2.93
Aadhar Housing Finance Limited Company Financials
In Crs.
In Cr.
31-Dec-23 31-Mar-23 31-Mar-22 31-Mar-21
Assets 18,035.57 16,617.87 14,375.81 13,630.33
Revenue 1,895.17 2,043.52 1,728.56 1,575.55
Profit After Tax 547.88 545.34 446.20 340.46
Net Worth 4,249.10 3,697.60 3,146.63 2,692.76
Total Borrowing 13,127.59 12,153.45 10,674.59 10,374.47
About Aadhar Housing Finance Limited Company

Aadhar Housing Finance Limited 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.

As of Sept. 30, 2023, the company enrolled 12,221 Aadhar Mitras who get referral fees for sourcing customers' loans.

The company provides a variety of mortgage loan products for residential and commercial property purchase and construction, home improvement and extension.

As of September 30, 2023, the company has a vast network of 471 branches, including 91 sales offices. These branches and sales offices are spread across 20 states and union territories, and they operate in around 10,926 pin codes throughout India.

As of September 30th, 2023, the company has 3,695 employees. Its subsidiary, Aadhar Sales and Services Private Limited (ASSPL), has 1,851 employees.

The company has served 246,983 customers nationwide through 471 branches and offices.

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Aadhar Housing Finance Limited - Promoter(s)

BCP Topco VII Pte. Ltd

Pre Issue Share Holding : 98.72%

Post Issue Share Holding : 76.48%

Aadhar Housing Finance Limited IPO - Issue Objectives
1

To meet future capital requirements towards onward lending

2

General corporate purposes.

Aadhar Housing Finance Limited IPO - Anchor Investors

Aadhar Housing Finance IPO: Institutional investors invest Rs 898 crore via anchor book.

Marquee institutional investors including Morgan Stanley, Stichting Depository APG, WF Asian Reconnaissance Fund, Clarus Capital, Neuberger Berman Emerging Markets Equity Fund, Theleme India Master Fund, CLSA Global, East Bridge Capital, Nepean Long Term Opportunities Fund, and Amundi Funds invested in the company via anchor book.

Asset management companies like HDFC Mutual Fund, ICICI Prudential Mutual Fund, Axis Mutual Fund, Invesco India, Whiteoak Capital, Quant Mutual Fund, Bandhan Mutual Fund, JM Financial Mutual Fund, Mahindra Manulife, and LIC Mutual Fund also made investment in Aadhar Housing.

Insurance companies, too, including SBI Life Insurance Company, ICICI Prudential Life Insurance, HDFC Life Insurance Company, Kotak Mahindra Life Insurance, SBI General Life Insurance, and Bajaj Allianz Life Insurance also participated.

Aadhar Housing Finance Limited IPO - Peers Comparison
Company Name EPS (Basic) EPS (Diluted) NAV (per share) (Rs) P/E (x) RoNW (%) P/BV Ratio Financial statements
Aadhar Housing Finance Limited 13.8 13.4 93.7 N/A 16.5 N/A Consolidated
Aptus Value Housing Finance India Limited 10.1 10.1 67.1 31.3 16.1 N/A Consolidated
Aavas Financiers Ltd 54.4 54.3 413.6 28.1 14.1 3.89 Consolidated
Home First Finance Company India Ltd 26 25.2 206.5 34.9 13.5 3.6 Consolidated
India Shelter Finance Corporation Limited 17.8 17.5 141.4 33.1 13.4 N/A Consolidated

Notes:

  1. The P/E ratio for the listed industry peers has been computed based on the closing market price of equity shares on BSE Limited ('BSE') as on January 25, 2024 divided by the diluted earnings per share for the year ended March 31, 2023.
  2. P/B ratio for the listed industry peers has been computed based on the closing market price of equity shares on BSE as on January 25, 2024 divided by the net asset value per equity share as of the last day of the year ended March 31, 2023.
  3. Return on net worth (%) is calculated as profit after tax for the financial year 2023 divided by yearly average total equity as at the end of the financial year 2023. Total equity is calculated as the sum of equity share capital and other equity.
  4. Net asset value per equity share is computed as net worth as of the last day of the relevant period/year divided by the outstanding number of issued and subscribed equity shares as of the last day of such period/year.
Strength
According to the CRISIL Report, Aadhar Housing Finance is the leading Housing Finance Company (HFC) in India that specialises in low-income housing, having the greatest net worth and Assets Under Management (AUM) compared to its competitors.
With an expanding Gross AUM and a wide branch network across several states, Aadhar Housing Finance is well-positioned to successfully meet the demands of its target customers.
In order to ensure efficient risk identification and management, Aadhar Housing Finance has put in place extensive systems and procedures for credit evaluation, underwriting, and collections. The organisation maintains asset quality and profitability by streamlining loan processing, improving property value accuracy, and facilitating effective credit choices via the use of technology-driven solutions and analytics-backed platforms.
With branches and sales offices distributed throughout 20 states and union territories in India, Aadhar Housing Finance has a large network. The company's capacity to serve a variety of consumer categories and geographic areas is improved by its strategic growth and penetration into semi-urban areas, which are made possible by specialised products as Aadhar Gramme Unnati.
Weakness
The continuing regulatory investigations involving Aadhar Housing Finance's former promoters pose hazards. Any unfavourable findings from these inquiries may have an effect on the business, its present promoters, and the equity shares' market value.
Shareholders' ability to influence company decisions may be restricted by the promoter of Aadhar Housing Finance's strong voting control that was kept after the offer. This concentration of authority may make it more difficult to approve important requests on time, which might have an impact on the company's business plan and shareholder returns.
Aadhar Housing Finance is mostly dependent on prospective borrowers and third-party service providers for accurate and comprehensive information. Any fraudulent activity or false information might cause errors in credit evaluations, which could raise the amount of non-performing assets (NPAs) and have an adverse effect on the company's financial stability.
Contact Details

Aadhar Housing Finance Limited

2nd floor, No. 3, JVT Towers 8th‘A’, Main Road, Sampangi Rama Nagar, Bengaluru-560027

+91 22 41689900

complianceofficer@aadharhousing.com

https://aadharhousing.com/

Registrar Contact Details

Kfin Technologies Limited

04067162222, 04079611000

ahfl.ipo@kfintech.com

https://kosmic.kfintech.com/ipostatus/