Securities and Exchange Board of India (SEBI) approved the initial public offer (IPO) of Blackstone-backed Aadhar Housing Finance, showed the market regulator's site on April 8.
This confirms Moneycontrol's April 5 story about Blackstone-backed Aadhar Housing Finance getting the SEBI nod after it refiled its draft initial share sale documents on February 2.
The proposed IPO will combine a fresh issue of shares of up to Rs 1,000 crore and an offer-for-sale component of as much as Rs 4,000 crore. Blackstone will dilute its stake as part of the share sale, reported Moneycontrol.
The affordable home financier had previously filed papers for an IPO in January 2021 and had received a nod from the regulator in May 2022. After a year, the validity of the approval lapses and issuers keen on a fresh attempt need to file documents afresh.
The objects of the fresh issue are to meet future capital requirements towards onward lending and general corporate purposes.
ICICI Securities, Kotak Mahindra Capital, Nomura, Citi and SBI Capital are advising the lender on the listing plan.
Aadhar Housing Finance offers a range of mortgage-related loan products, including loans for residential property purchase and construction; home improvement and extension loans; and loans for commercial property construction and acquisition.
The retail-focused housing finance firm is into the low income housing segment, serving economically weaker and low-to-middle income customers.
It has a network of 471 branches, including 91 sales offices, as of September 30, 2023.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
