The subscription period for the Aadhar Housing Finance IPO begins today, Wednesday, May 8, and ends on Friday, May 10. The Blackstone-backed company’s IPO price range is ₹300 to ₹315 per share. Tuesday, May 7, saw the ₹898 crore Aadhar Housing Finance IPO, which was funded by anchor investors. There is a minimum bid of 47 shares and bids can be made for multiples of 47 shares.
As of September 30, 2023, the company employed 12,221 Aadhar Mitras, who receive referral fees in exchange for helping their clients find loans.
The company offers various mortgage financing options for the construction, remodelling, and acquisition of residential and commercial real estate.
As of September 30, 2023, the company operated a vast network of 471 branches, including 91 sales offices. These branches and sales offices are spread across 20 states and union territories, providing service to approximately 10,926 pin codes in India.
According to the Red Herring Prospectus (RHP), Aavas Financiers Ltd (P/E of 28.1), Home First Finance Company India Ltd (P/E of 34.9), Aptus Value Housing Finance India Ltd (P/E of 31.3), and India Shelter Finance Corporation Ltd (P/E of 33.1) are Aadhar Housing Finance’s listed peers.
Aadhar Housing Finance Limited saw a 22.22% increase in profit after tax (PAT) and an 18.22% increase in revenue between March 31, 2022, and March 31, 2023.
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