Aadhar Housing Finance IPO to open on May 8; what does GMP indicate before subscription?

Ahead of the issue, Aadhar Housing Finance IPO is commanding a premium of ₹51 per stock successful the grey marketplace connected May 5, against ₹55 per stock connected May 4, according to marketplace observers. 

Also read: Aadhar Housing Finance IPO terms set acceptable astatine ₹300-315 per share; contented to unfastened connected May 8

This means that the estimated listing terms of Aadhar Housing Finance IPO could beryllium ₹366, which is 16.19% much than the IPO terms of ₹315.

As per investorgain.com, the lowest GMP  of Aadhar Housing Finance is ₹0, portion the highest GMP is ₹130.

Aadhar Housing Finance IPO details

The institution intends to rise ₹3,000 crore from the contented astatine the higher extremity of the terms band. The Aadhar Housing Finance IPO includes a caller contented of 3.17 crore equity shares, totaling ₹1,000 crore, and an connection for merchantability (OFS) constituent of 6.35 crore shares, totaling ₹2,000 crore.

The batch size for the IPO comprises 47 shares, with a minimum concern threshold of ₹14,805 mandated for retail investors. Additionally, the institution extends a discount of ₹23 per stock to its employees. The allocation of Aadhar Housing Finance IPO shares is anticipated to beryllium concluded by May 13, followed by their listing connected May 15 astatine some the BSE and NSE.

The institution plans to utilize the nett proceeds from the contented to fulfill aboriginal superior needs for onward lending and wide firm purposes.

For the Aadhar Housing Finance IPO, ICICI Securities, Citigroup Global Markets India, Kotak Mahindra Capital Company, Nomura Financial Advisory And Securities (India), and SBI Capital Markets are serving arsenic the publication moving pb managers, with Kfin Technologies Limited appointed arsenic the IPO registrar.

Also read: Upcoming IPOs: 9 caller nationalist issues and 4 caller listings scheduled for this week; cheque afloat database here

Aadhar Housing Finance provides lodging concern solutions to the little income demographic. Its lawsuit basal chiefly resides successful tier 4 and tier 5 towns crossed India. By September 30, 2023, the institution boasted a web of 471 branches, alongside 91 income offices, spanning crossed 20 states and national territories. 

During the fiscal twelvemonth 2022-2023, Aadhar Housing Finance achieved a nett net of ₹545.34 crore, generated from a gross of ₹2,043.52 crore.

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Published: 05 May 2024, 02:11 PM IST