Aadhar Housing Finance Limited (MAINBOARD)

May 8, 2024 - May 10, 2024

Price ₹300 - ₹315
Premium ₹43
Lot size 47
Allotment May 13, 2024
Listing May 15, 2024
Category Lot(s) Qty Amount Reserved
Retail 1 47 14805 707565
sHNI 14 658 207270 7220
bHNI 68 3196 1006740 14440

Last Updated as on 10-May-2024 17:54:00

CategoryOfferedAppliedTimes
QIBs19003176145220383876.42
HNIs 1425238124692902317.33
HNIs (10L+)950158717955461718.9
HNIs (2-10L)47507946737440614.18
Retail33255556856670412.58
Employees23972616467866.87
Total66750839178644668826.76
Application Wise Breakup (Approx)
CategoryReservedAppliedTimes
HNIs (10L+)14440554363.84
HNIs (2-10L)72209963713.8
Retail70756514833612.1
Total Application : 1638434
© IPO Premium
QIB Interest Cost per share (7 Days)
@7%
₹32.32		@8%
₹36.93		@9%
₹41.55		@10%
₹46.17		@11%
₹50.78		@12%
₹55.4
Big HNI (10L+) Cost per lot (7 Days)
Assuming fix interest of ₹2000 per application
Big HNI (10L+) costing for every 1 lot allotment is
₹7560
About

TOP 5 ANCHOR LIST

Name of Anchor No. of Shares % Portion Amount (cr)
STICHTING DEPOSITORY APG EMERGING MARKETS EQUITY POOL 1269846 4.45% 40.00
SBI LIFE INSURANCE COMPANY LIMITED 1269846 4.45% 40.00
WINRO COMMERCIAL (INDIA) LTD 1269846 4.45% 40.00
HDFC SMALLCAP FUNDS 1142899 4.01% 36.00
HDFC MUTUAL FUND - HDFC MULTI CAP FUND 1142852 4.01% 36.00

Established in 2010, Aadhar Housing Finance Limited is a prominent housing finance company dedicated to serving the lower income segment in India. With a strong focus on tier 4 and tier 5 towns, the company operates through its network of 471 branches and 91 sales offices spread across 20 states and union territories. A key aspect of its operations is the engagement of 12,221 Aadhar Mitras, who receive referral fees for sourcing customer loans, facilitating outreach and accessibility to financial services. Offering a comprehensive range of mortgage loan products for residential and commercial properties, including purchase, construction, home improvement, and extension, Aadhar Housing Finance has successfully served 246,983 customers nationwide. With a workforce of 3,695 employees and its subsidiary, Aadhar Sales and Services Private Limited (ASSPL), employing 1,851 individuals, the company is committed to providing inclusive and tailored financial solutions to meet the diverse needs of its clientele.

Aadhar Housing Finance IPO Details

Issue Size [95,238,095] shares
(aggregating up to ₹3,000 Cr)
Fresh Issue [31,746,032] shares
(aggregating up to ₹1,000 Cr)
Offer for Sale [63,492,063] shares of ₹10
(aggregating up to ₹2,000 Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE
Share holding pre issue 394,754,970
Share holding post issue 426,501,002

Aadhar Housing Finance IPO Reservation

Investor Category Shares Offered
QIB Shares Offered Not More than 50% of the Net Issue
Retail Shares Offered Not Less than 35% of the Net Issue
NII (HNI) Shares Offered Not Less than 15% of the Net Issue

Key Performance Indicator

KPI Dec-23 Mar-23 Mar-22
ROE 18.40% 16.50% 13.50%
RONW 12.90% 14.70% 14.10%
D/E 3.1 3.3 3.4
EPS
(diluted)		 13.50 13.40 10.90
P/BV 2.93    

P/E

Pre IPO

 22.8    

Company Financials

Aadhar Housing Finance Limited Financial Information (Restated Consolidated)

Aadhar Housing Finance Limited's revenue increased by 18.22% and profit after tax (PAT) rose by 22.22% between the financial year ending with March 31, 2023 and March 31, 2022.

 
Period  Dec 2023 Mar 2023 Mar 2022 Mar 2021
Assets 18,035.57 16,617.87 14,375.81 13,630.33
Revenue 1895.17 2,043.52 1,728.56 1,575.55
Profit 547.88 545.34 446.20 340.46
Net Worth 4249.10 3,697.60 3,146.63 2,692.76
Borrowing 13,127.59 12,153.45 10,674.59 10,374.47
Amount in ₹ Crore

Strength Factors

Resilient Business Model: The company possesses a seasoned business model that exhibits strong resilience across various business cycles, ensuring stability and sustainability over time.

Extensive Network: With 471 branches and 91 sales offices spread across 20 states and union territories, Aadhar Housing Finance enjoys significant geographical penetration and diverse sales channels, enhancing both loan sourcing and servicing capabilities.

Robust Systems and Processes: Aadhar Housing Finance has implemented robust and comprehensive systems and processes for underwriting, collections, and asset quality monitoring, facilitating efficient management of loan portfolios and minimizing credit risks.

Risk factors

Reliance on Borrower Information: The company's dependency on the accuracy and completeness of information provided by potential borrowers and third-party service providers poses a risk. Misleading information could impact the assessment of creditworthiness and the value of collateral, potentially affecting the company's business operations, financial condition, and results.

Negative Cash Flows: Historical negative net cash flows and the potential for continued negative cash flows in the future present a risk to the company's financial stability and growth prospects.

Indebtedness and Financing Arrangements: Aadhar Housing Finance's indebtedness and the conditions and restrictions imposed by financing arrangements may adversely affect its ability to conduct business and operations. These constraints could limit flexibility in decision-making and hinder the company's ability to pursue growth opportunities.

Lead Manager(s)

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

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Strength
Weakness
Registrar

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