Aadhar Housing Finance IPO Subscribed 26.76x on Day 3

On the last day of bidding, May 10, 2024, the IPO witnessed continued investors’ interest. The allotment for the Aadhar Housing Finance IPO has been scheduled to be finalised on May 13, 2024. The Aadhar Housing Finance IPO will be listed on BSE and NSE, with a tentative listing date of May 15 2024.

The price band of the Aadhar Housing Finance IPO has been set at ₹300 to ₹315 per share. The minimum lot size for an application is 47 Shares. The company has selected 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 as book-running lead managers of the IPO. Kfin Technologies Limited is the registrar for the issue.

Day Wise Subscription

• On the 1st day of subscription, i.e. May 08, 2024, the IPO was subscribed 0.47x in total. QIBs subscribed 0.35x, NIIs 0.63x, and employees 2.20x, while retail investors subscribed 0.45x.
• On the 2nd day of subscription, i.e. May 09, 2024, Aadhar Housing IPO witnessed a growth in subscription to 1.55x. This comprised QIB’s subscription of 2.15x, NIIs 2.04x, employee 3.79x and retail 0.99x.
• On the last bidding day, i.e. May 10, 2024, Aadhar Housing IPO witnessed a growth in subscription to 26.76x. This comprised QIB’s subscription of 76.42x, NIIs 17.33x, employee 6.87x and retail 2.58x.

Grey Market Premium

The shares of Aadhar Housing IPO were trading at a GMP of ₹63. With an upper price range of ₹315, Aadhar Housing IPO’s estimated listing price is ₹378 (cap price + today’s GMP). The expected percentage gain per share stands at 20%.

Aadhar Housing Finance Business Overview

Aadhar Housing Finance Ltd. (AHFL) operates a housing finance business in India, focusing on the low-income housing segment (ticket size less than ₹1.5 million). AHFL is a retail-focused HFC that serves economically weaker and low-to-middle-income customers who require small-ticket mortgage loans.

Aadhar Housing has robust and comprehensive systems and processes for underwriting, collections, and monitoring asset quality. These systems and processes are also technology-enabled across its front and back offices, with a view to ultimately digitising the entire life cycle of a loan from origination to closure.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.