Aadhar Housing Finance Ltd IPO: Issue Details, Open/Close Date | Research 360 by Motilal Oswal
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Aadhar Hsg. Fin.

CMP

420.15

+24.65 (6.23%)

  • DRHP
₹315

Offer Price

₹ 3,000.00 Cr

Issue Size

₹ 14,805

Min Investment

25.49x

Times Subscribed

47

Lot size

Time Line

  • 08
    May 2024
    Open
  • 10
    May 2024
    Close
  • 13
    May 2024
    Finalisation of Basis of Allotment
  • 14
    May 2024
    Initiation of Refunds
  • 14
    May 2024
    Transfer of Shares to Demat Account
  • 15
    May 2024
    Listing Date

Shares Offered

Number of Times Subscribed

Objects of the Offer

  • Expand its Distribution Network to Achieve Deeper Penetration in key states.

  • Continue to focus on its target customers and grow its customer base.

  • Continue to invest in and roll out digital and technology enabled solutions across its business to improve customer experience and improve cost efficiency.

  • Optimize its borrowing costs and reduce operating expenses further.

Products & Services

  • Aadhar Housing Finance Limited is a housing finance company focused on the low-income housing segment in India.

Strengths

  • HFC focused on the low income housing segment (ticket size less than Rs.1.5 million) in India with the highest AUM and net worth among our analyzed peers in Fiscal 2021, Fiscal 2022, Fiscal 2023 and nine months ended December 31, 2022 and December 31, 2023.

  • Seasoned business model with strong resilience through business cycles.

  • Extensive branch and sales office network, geographical penetration and sales channels which contribute significantly to loan sourcing and servicing.

  • Robust, comprehensive systems and processes for underwriting, collections and monitoring asset quality.

  • Access to diversified and cost-effective long-term financing with a disciplined approach to asset liability and liquidity management.

Risks

  • Its Erstwhile Promoters are subject to certain ongoing regulatory investigations by enforcement agencies including the Enforcement Directorate and the outcome of such investigations may adversely impact it and the Equity Shares held by its Promoter, BCP Topco and the market price of the Equity Shares of the Company.

  • The company Erstwhile Promoters are subject to ongoing regulatory investigations by enforcement agencies including the Enforcement Directorate and the outcome of such investigations may adversely impact the company and the Equity Shares held by its Promoter, BCP Topco and the market price of the Equity Shares of the Company.

  • Whilst its Company has disassociated itself from the Erstwhile Promoter Entities, there are existing agreements with certain Erstwhile Promoter Entities which cannot be unilaterally terminated by the company.

  • The company is party to certain legal proceedings and any adverse outcome in these or other proceedings may adversely affect its business.

  • Its Promoter will continue to exert substantial voting control over the Company after completion of the Offer, which may limit your ability to influence the outcome of matters submitted for approval of its shareholders.

Company Promoters

Promoters Holding

Issue For IPO
98.72%
Pre Holding

98.72%

Post Holding

-

Top Promoters Holding

Financials

All values in Cr

Mar-2022 Mar-2023 Mar-2023 3-Yr trend
Revenue 1,728.27 (9.70%) 2,043.23 (18.20%) 16.50 (-)
Gross Profit 1,728.27 (9.70%) 2,043.23 (18.20%) 16.50 (-)
Net Income 1,728.27 (9.70%) 2,043.23 (18.20%) 16.50 (-)
Assets 1,728.27 (9.70%) 2,043.23 (18.20%) 16.50 (-)
Liabilities 1,728.27 (9.70%) 2,043.23 (18.20%) 16.50 (-)

Peers

Company Name Revenue (Cr) Net Profit (Cr) Assets (Cr) Liabilities (Cr) ROE EPS BVPS Current Ratio Debt to Assets
Aadhar Housing Finance Ltd 2,043.23 544.76 15,851.11 12,173.95 16.50 13.80 93.15 2.80 0.77
Aptus Value Housing Finance India Ltd 1,093.36 503.01 7,176.28 7,176.28 15.06 10.08 67.05 7.00 1.13
AAVAS Financiers Ltd 1,608.76 429.64 13,409.61 13,409.61 13.14 54.26 413.57 3.20 3.01
Home First Finance Company India Ltd 790.98 228.29 6,737.02 6,737.02 12.56 26.01 206.48 3.38 2.65
India Shelter Finance Corporation Ltd 584.53 155.34 4,295.59 4,295.59 12.52 17.75 283.45 3.61 2.41

Book Running Managers

  • Citigroup Global Markets India Pvt Ltd
  • Kotak Mahindra Capital Company Ltd
  • Nomura Financial Advisorry & Securities (India) P
  • SBI Capital Markets Ltd
  • ICICI Securities Ltd

Registrar & Transfer Agent

KFin Techologies Ltd

Karvy Selenium Tow-B,
31&32 Financial Dist,
Nanakramguda - Hyderabad-500032
Phone : 91-40-67162222 Fax: 91-40-23001153/23420814

Company Contact Information

2nd Flr # 3 JVT Towers 8th A-,
Main Rd Sampangi Rama Nagar,
Bengaluru - 560027
Phone : +91 22-4168 9900 Email : complianceofficer@aadharhousing.com https://aadharhousing.com/;

Offer Related Information

Initial public offer of 95,255,598# equity shares of face value of Rs. 10 each ("Equity Shares") of Aadhar Housing Finance Limited* ("Company") for cash at a price of Rs. 315 per equity share (including a share premium of Rs. 305 per equity share) ("Offer Price") aggregating to Rs. 3000.00#^ crores comprising a fresh issuance of 31,763,535# equity shares aggregating to Rs. 1000.00#^ crores by the company ("Fresh Issue") and an offer for sale of 63,492,063# equity shares aggregating to Rs.... More

News

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