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Aadhar Housing Finance set to file Rs 7,300-crore IPO

Aadhar Housing Finance set to file Rs 7,300-crore IPO

Aadhar Housing Finance set to file Rs 7,300-crore IPO
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By CNBCTV18.com Jan 25, 2021 1:38:34 PM IST (Published)

Aadhar Housing Finance is set to file for a Rs 7,300-crore IPO as soon as this month, as per media reports.

Aadhar Housing Finance is set to file for a Rs 7,300-crore IPO as soon as this month, according to multiple media reports. This could the largest public offer by a financial services firm after SBI Cards.

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Blackstone acquired Aadhar Housing in 2019 from the Wadhawan Group for around Rs 2,200 crore. Blackstone currently owns 98.7 percent of the firm.
"The listing of Aadhar Housing Finance would be the first IPO of an Indian portfolio company backed by the US private equity giant in the past five years. ICICI Securities, Nomura, Citi and SBI Capital Markets are the investment bankers advising Blackstone on the offering. Law firms Cyril Amarchand Mangaldas and Khaitan and Co are the legal advisors," Moneycontrol said in a report.
“The net proceeds of the IPO will be utilized for increasing the firm’s capital base, which will be utilized towards the company’s business and growth including towards onwards lending, payment of operating expenditure, purchase of assets and repayment of outstanding loans and interest thereon as part of it’s business activities," it added.
Founded in 2010, Aadhar has more than 294 branches in India which provides financing solutions. The company had about Rs 11,400 of assets under management in the latest financial year, about 14 percent higher than the previous year, its annual report shows.
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