Aadhar Housing Finance IPO will open for subscription from 08 May 2024. The company aims for an issue size of ₹3,000 Cr through this IPO.
Company Overview
| Full name | Aadhar Housing Finance Limited |
| Sector | Finance |
| Industry | Finance – Housing |
| Company Website | https://aadharhousing.com/ |
About Company
Aadhar Housing Finance is a retail-focused affordable housing finance company, serving economically weaker and low-to-middle-income customers, who require small-ticket mortgage loans. It is the largest affordable HFC in India in terms of AUM. The company also has the most geographically diversified AUM and the highest operating expenditure ratio efficiency.
The average ticket size of Aadhar Housing Finance loans was INR 0.09 crore, and INR .10 crore with an average loan-to-value of 57.7% and 58.3%, as of 31 December 2022 and 31 December 2023, respectively. As of 31 December 2023, Aadhar Housing Finance has a total of 3,885 employees and its 100% owned subsidiary has a total of 1,875 employees.
As of 31 March 2023 and 31 December 2023, salaried customers accounted for 58.6% and 57.2% of its Gross AUM, and self-employed customers accounted for 41.4% and 42.8% of Gross AUM, respectively. As of 31 December 2023, the company has 255,683 live accounts (including assigned and co-lent loans).
The company has an extensive network of 487 branches including 109 sales offices, as of 31 December 2023, with branches spread across 20 states and union territories, operating in approximately 10,926 locations across India. Its branch network is widely dispersed with no state accounting for more than 14% of Gross AUM.
The Objectives of the Issue
- To meet future capital requirements towards onward lending; and
- General corporate purposes.
Aadhar Housing Finance IPO Timetable
| IPO Opening date | 08 May 2024 |
| IPO Closing | 10 May 2024 |
| Basis of Allotment | 13 May 2024 |
| Initiation Refund | 14 May 2024 |
| Credit to Demat Account | 14 May 2024 |
| Listing Date | 15 May 2024 |
Aadhar Housing Finance IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹3,000 Cr – 95,238,095 shares |
| Fresh Issue | ₹1,000 Cr – 31,746,032 shares |
| Offer for sale | ₹2,000 Cr – 63,492,063 shares |
| Face value | ₹10 per share |
| Price Band | ₹300 to ₹315 per share |
| Lot size | 47 Shares |
| Employee Discount | ₹23 per share |
| Shareholding pre-issue | 394,754,970 |
| Shareholding post-issue | 426,501,002 |
| Listing Exchange | BSE & NSE |
Aadhar Housing Finance IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 47 | ₹14,805 |
| Retail (Max) | 13 | 611 | ₹192,465 |
| S-HNI (Min) | 14 | 658 | ₹207,270 |
| S-HNI (Max) | 67 | 3,149 | ₹991,935 |
| B-HNI (Min) | 68 | 3,196 | ₹1,006,740 |
Aadhar Housing Finance IPO Reservation Details
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Aadhar Housing Finance Financial Performance
| FY 2021 | FY 2022 | FY 2023 | 9M FY 2024 | |
| Revenue | 1,575.33 | 1,728.27 | 2,043.23 | 1,895.02 |
| Expenses | 1,143.04 | 1,161.20 | 1,322.70 | 1,194.19 |
| Net income | 340.13 | 444.85 | 544.76 | 547.88 |
| Margin (%) | 21.59 | 25.74 | 26.66 | 28.91 |
Aadhar Housing Finance IPO Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 (Pre-Issue) | FY 2024 (Post-Issue)* | |
| EPS | 8.62 | 11.27 | 13.80 | 17.13 |
| PE ratio | – | – | 21.74 – 22.83 | 17.52 – 18.39 |
| FY 2021 | FY 2022 | FY 2023 | |
| RONW (%) | 12.6 | 14.1 | 14.7 |
| NAV | 68.21 | 79.70 | 93.66 |
| EBITDA (%) | 79.9 | 77.6 | 75.2 |
| ROE (%) | 13.5 | 15.2 | 16.5 |
| Debt/Equity | 3.9 | 3.4 | 3.3 |
Company Promoters
- BCP Topco VII Pte. Ltd.
Promoter Holding
| Pre Issue Share Holding | 98.72% |
| Post Issue Share Holding |
Aadhar Housing Finance IPO Lead Manager(s)
- ICICI Securities Limited
- Citigroup Global Markets India Private Limited
- Kotak Mahindra Capital Company Limited
- Nomura Financial Advisory And Securities (India) Pvt Ltd
- SBI Capital Markets Limited
Aadhar Housing Finance Registrar
KFIN TECHNOLOGIES PRIVATE LIMITED
Selenium Tower B, Plot 31-32,
Gachibowli, Nanakramguda,
Hyderabad – 500 032, Telangana
Phone: +91 40 6716 2222
Email: einward.ris@kfintech.com
Website: www.kfintech.com
Aadhar Housing Finance Contact Details
AADHAR HOUSING FINANCE LIMITED
Unit No. 802, 8th Floor, Natraj by Rustomjee,
Junction of Western Express Highway and M. V. Road,
Andheri (East), Mumbai 400 069, Maharashtra
Phone: +91 22 3950 9900
Email: complianceofficer@aadharhousing.com
Website: www.aadharhousing.com
Aadhar Housing Finance IPO Allotment Status
Aadhar Housing IPO allotment will be available on KFin Technologies’ website. Click on this link to get allotment status.
Final thoughts
Aadhar Housing Finance IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to research the company fundamentally. learn well and make wise decisions.
Happy Investing
