Aadhar Housing Finance Rs 3000 Cr IPO Receives Dull Listing On Bourses
Retail investors show subdued response to the issue as it was filled only 2.57 times, however the final subscription stands at 26.7 times
Aadhar Housing Finance initial public offering (IPO) made a muted entrance on the stock bourses on 15 May as the issue listed at Rs 314 against the issue price of Rs 315.
Notably, the retail investors showed subdued response to the issue as it was filled only 2.57 times. However, the final subscription stood at 26.7 times, as per data by chittorgarh.
The issue attempted to raise Rs 3,000 crore with its combination of fresh issue and offer-for-sale component (OFS).
The Rs 3,000 book-built issue consisted of fresh issuance worth Rs 1,000 crore and OFS worth Rs 2,000 crore with a price band of Rs 300 to 315.
Kotak Mahindra Capital, Citigroup Global Markets, SBI Capital Markets and Nomura Financial Advisory and Securities were the book running lead managers, while Kfin Technologies was the registrar to the issue.
IPO Objectives
The company proposed to utilise net proceeds of Rs 1,000 crore to meet the future capital requirements towards onward lending along with general corporate purposes.
Firm’s Financials
The firm registered revenue of Rs 2,043 crore in FY23, compared to Rs 1,728 crore in FY22. The firm’s profit after tax (PAT) increased to Rs 545 crore in FY23 compared to Rs 446 crore in FY22. Overall, revenue and PAT increased by 18.22 per cent and 22.22 per cent respectively.
