World's largest asset manager BlackRock-backed IPO: GMP price SOARS as subscription starts - Check company name
world’s largest asset manager blackrock-backed ipo: gmp price soars as subscription starts – check company name
BlackRock-backed IPO- The initial public offering of Blackstone-backed Aadhar Housing Finance opened for public subscription today. Headquartered in New York City, USA, BlackRock is one of the world’s leading providers of investment, advisory, and risk management solutions.
The unlisted shares of the housing finance company, Aadhar Housing Finance, are commanding a strong premium in the grey markets on the first day of subscription. The three-day subscription window for the public issue closes on Friday, May 10, 2024.
According to several websites that track grey market activities, shares of Aadhar Housing Finance are commanding a premium of 22.22 per cent at the upper end at around 11:30 PM on May 8, 2024. This translates into a grey market premium of Rs 70 at the upper end of the IPO price. The grey market premium for an IPO indicates the difference between the unofficial market price of a company’s shares before they are officially listed and the IPO price. GMP also reflects investors’ sentiment and demand.
Aadhar Housing Finance IPO Price Band, Lot Size
Aadhar Housing Finance has fixed the price band of Rs 300-315 per share for the public issue. The lot size for the initial public offering of Aadhar Housing Finance is 47 shares.
Aadhar Housing Finance IPO Details
The housing finance company seeks to raise Rs 3,000 crore from the IPO at the upper end. The housing finance company’s IPO comprises a fresh issue of 31,746,032 equity shares aggregating up to Rs 1,000 crore and an offer for sale of 63,492,063 shares worth Rs 2,000 crore. According to a circular uploaded on BSE’s website, investors can bid for a minimum of 47 shares of Aadhar Housing Finance and in multiples thereof. The minimum investment required by retail investors is Rs 14,805.
Aadhar Housing Finance aims to utilise the net proceeds from the initial public offering to meet future capital requirements towards onward lending and general corporate purposes.
Aadhar Housing Finance IPO Allotment Date, Listing Date
The basis of allotment of the housing finance company’s shares is scheduled for Monday, May 13, 2024, and the shares are scheduled to be credited to the demat account on Tuesday, May 14, 2024. Aadhar Housing Finance’ shares are expected to list on the NSE and BSE on Wednesday, May 15, 2024.
About Aadhar Housing Finance
Aadhar Housing Finance Ltd (Aadhar) is one of the largest low-income housing finance companies in India, servicing the home financing needs of the low-income sections of society.
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