Aadhar Housing Finance IPO Day 2: Check latest subscription, GMP

Aadhar Housing Finance IPO Day 2: Check latest subscription, GMP

The initial public offering (IPO) of Aadhar Housing Finance garnered strong interest from investors on its final day of public issue.Â

The IPO received an overall subscription of 26.76 times. The public issue was subscribed 2.58 times in the retail category, 76.42 times in the Qualified Institutional Buyer (QIB) category, and 17.33 times in the Non-Institutional Investor (NII) category by 5:35 PM.

The public issue offered 6,67,50,839 shares for subscription but received bids for 1,78,64,46,641 on its last day. The IPO opened for public issue on May 8.

The IPO’s price band is fixed at Rs 300-315 per share. The basis of allotment will be decided by May 13, with the company making its stock exchange debut on May 15.

Aadhar Housing Finance IPO latest GMP

The IPO’s grey market premium (GMP) stands at Rs 63 as of May 10, 2024, at 4:30 PM.

Based on the upper price band of Rs 920 per share, the estimated listing price is projected to be Rs 378, indicating a potential gain of 20% per share.

Aadhar Housing Finance IPO details

The book running lead managers for the Aadhar Housing Finance IPO include ICICI Securities Limited, Citigroup Global Markets India Private Limited, Kotak Mahindra Capital Company Limited, Nomura Financial Advisory And Securities (India) Pvt Ltd, and SBI Capital Markets Limited.

Kfin Technologies Limited is the registrar for the issue.

The company intends to utilise the net proceeds from the IPO to meet future capital requirements for lending activities and for general corporate purposes.

Established in 2010, Aadhar Housing Finance Limited focusses on providing housing finance solutions to the lower-income segments.

Financially, Aadhar Housing Finance Limited has shown promising growth, with revenue increasing by 18.22% and profit after tax (PAT) rising by 22.22% between the financial years ending March 31, 2023, and March 31, 2022.