Market experts report that the Aadhar Housing Finance IPO is currently trading at a premium of ₹51 per share in the grey market on May 5, compared to ₹55 per share on May 4.
Aadhar Housing Finance IPO GMP today (PTI)
Housing finance company Aadhar Housing Finance’s initial public offerings (IPO) will open for subscription on May 8 and close on May 10. The mainboard segment IPO has set at ₹300 to ₹315 per share.
Ahead of the issue, Aadhar Housing Finance IPO is commanding a premium of ₹51 per share in the grey market on May 5, against ₹55 per share on May 4, according to market observers.
This means that the estimated listing price of Aadhar Housing Finance IPO could be ₹366, which is 16.19% more than the IPO price of ₹315.
As per investorgain.com, the lowest GMP of Aadhar Housing Finance is ₹0, while the highest GMP is ₹130.
Aadhar Housing Finance IPO details
The company intends to raise ₹3,000 crore from the issue at the higher end of the price band. The Aadhar Housing Finance IPO includes a fresh issue of 3.17 crore equity shares, totaling ₹1,000 crore, and an offer for sale (OFS) component of 6.35 crore shares, totaling ₹2,000 crore.
The IPO lot size is 47 shares, and individual investors must invest at least ₹14,805. The corporation offers a discount of ₹23 per share to its employees. The distribution of Aadhar Housing Finance IPO shares is expected to be completed by May 13, with their listing on May 15 at both the BSE and NSE.
The business intends to use the net proceeds from the offering to meet future capital requirements for onward lending and general corporate purposes.
The book-running lead managers for the Aadhar Housing Finance IPO are ICICI Securities, Citigroup Global Markets India, Kotak Mahindra Capital Company, Nomura Financial Advisory and Securities (India), and SBI Capital Markets. Kfin Technologies Limited is the IPO registrar.
Aadhar House Finance offers house finance alternatives to low-income individuals. Its consumer base is mostly concentrated in tier 4 and tier 5 towns throughout India. By September 30, 2023, the corporation had 471 branches and 91 sales offices spread across 20 states and union territories.
In the fiscal year 2022-2023, Aadhar Housing Finance made a net profit of ₹545.34 crore on a revenue of ₹2,043.52.
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