Aadhar Housing Finance IPO GMP, Details, Guidance, Subscription Status, allotment @ Chanakyanipothi.com
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- GMP
- Reviews
- Subscription
- Allotment
Aadhar Housing Finance IPO Post listing Review
The scrip got listed at Rs. 315, at par and the listing is much below the expectations of the grey market players.
Subscription Status of Aadhar Housing Finance IPO
On 10 May 2024 5.00 (Day 3) (Closed)
QIB: 19953332 Shares 76.42 T
NII(10L+): 9976667 Shares 18.90 T
NII (<10L) 4988333 Shares 14.19 T
NII (Total) 14965000 Shares 17.33 T
RII: 34918334 Shares 02.58 T
Emp: 252707 Shares 06.88 T
Total: 70089373 Shares 26.76 T
Applications: 1636280
What is the latest GMP of Aadhar Housing Finance IPO?
Premium: Rs48/50 (Solid listing expected)
Retail Application Rs. 1000
Rs. 2 Lac Application Rs. NIL
Rs. 10 L application Rs. 9000
Subject to 2 Lac application Rs. 1700
Subject to 10 Lac application Rs.23800
Who is the promoter of Aadhar Housing Finance IPO?
The promoter of the company is BCP TOPCO VII PTE. LTD.
What are the Objects of Aadhar Housing Finance IPO?
The Offer comprises of fresh issue of shares & offer for sale of shares
The Company proposes to utilize the Net Proceeds towards the following:
1. To meet future capital requirements towards onward lending; and
2. General corporate purposes.
What is the business of Aadhar Housing Finance IPO?
Aadhar Housing Finance Limited is a HFC focused on the low-income housing segment (ticket size less than Rs.1.5 million) in India and it had the highest AUM and net worth among its analyzed peers in six months ended September 30, 2023. In addition, according to the peer set analyzed by CRISIL, it had the highest number of live accounts in FY2023.
In addition, it has a presence in 20 states and union territories, which is the highest among the peers.
It is a retail-focused HFC focused on the low-income housing segment, serving economically weaker and low-to-middle income customers, who require small ticket mortgage loans. The average ticket size of our loans was Rs. 0.9 million with an average loan-to-value of 57.6% and 58.1%, as of September 30, 2022, and September 30, 2023, respectively.
It offers a range of mortgage-related loan products, including loans for residential property purchase and construction; home improvement and extension loans; and loans for commercial property construction and acquisition. Its financial performance has remained consistent and resilient.
The company has an extensive network of 471 branches including 91 sales offices, as of September 30, 2023. Its branches and sales offices spread across 20 states and union territories, operating in approximately 10,926 pin codes across India, as of September 30, 2023. Its branch and sales office network is widely dispersed with no state accounting for more than 14.0% in terms of Gross AUM as of September 30, 2023. It believes that its diversified reach is well positioned to meet the specific needs of its target customers across geographies, in urban and semi-urban areas. Further, as a result of its geographical spread, the top five states and union territories in terms of contribution to AUM collectively accounted for 62.0% of our AUM as of March 2023, and according to CRISIL, its cumulative share of the top 5 states in terms of AUM is much lower than other players in the peer set as of March 2023.
As of September 30, 2023, it has a total of 3,695 employees and Aadhar Sales and Services Private Limited (“ASSPL”), its 100% owned subsidiary has a total of 1,851 employees. ASSPL provides manpower services, arranges loans, deals in properties and other financial instruments and provides various other financial services.
For more information, click https://aadharhousing.com/
Aadhar Housing Finance IPO GMP, Particulars & Guidance
Aadhar Housing Finance IPO Details | |
IPO opens on | 8 May 2024 |
IPO closes on | 10 May 2024 |
Issue Type | Book Built Issue IPO |
Issue Size | 95238095 Shares / Rs 3000 Crore |
* Fresh Issue | 31746032 shares/ Rs.1000 Crore |
* Offer for Sale | 63492063 Shares /Rs 2000 Crore |
Face Value per share: | Rs. 10 |
Price Band | Rs. 300-315 |
Retail Discount | Rs 0 per share |
Employee discount | Rs. 23 per share |
Retail Lot Size | 47 Shares |
Listing will at | BSE, NSE |
Shares offered in Aadhar Housing Finance IPO? | Shares | Rs. in Cr |
QIB (50 %) | 47507936 | 1496.50 |
NII (15 %) | 14252380 | 448.95 |
RII (35 %) | 33255555 | 1047.55 |
Employees | 239726 | 7.00 |
Total Shares | 95238095 | 3000 |
Retail portion will be oversubscribed by | 707565 applications | |
How to apply in Aadhar Housing Finance IPO? | Rs. | |
Min Retail Application | 47 | 14805 |
Max Retail Application | 611 | 192465 |
Small HNI (Min) application | 658 | 207270 |
Small HNI (Max) application | 3149 | 991935 |
Big HNI Application | 3196 | 1006740 |
What is the timetable of Aadhar Housing Finance IPO? | |
IPO opens on | 8 May 2024 |
IPO Closes on | 10 May 2024 |
IPO Allotment on | 13 May 2024 |
Unblocking of ASBA | 14 May 2024 |
Credit of Shares | 14 May 2024 |
Listing on | 15 May 2024 |
Registered Office of Aadhar Housing Finance | |
2nd floor, No. 3, JVT Towers, 8th ‘A’, Main Road, Sampangi Rama Nagar, Bengaluru 560 027, Karnataka, India |
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Who are the Lead Managers of Aadhar Housing Finance IPO? SICICI Securities Limited Citigroup Global Markets India Pvt ltd Kotak Mahindra Capital Company ltd Nomura Financial Advisory and Securities (India) Pvt ltd SBI Capital Markets Ltd |
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Registrar to IPO | |
KFin Technologies Limited |
Aadhar Housing Finance IPO Financial & Analytical Ratios | ||||
Year | Total Income | Net Profits | EPS | RoNW |
Rs. in Cr | Rs.in Cr | Rs. | % | |
2020-21 | 1576 | 340 | 8.60 | 12.60 |
2021-22 | 1728 | 445 | 11.30 | 14.10 |
2022-23 | 2044 | 545 | 13.80 | 14.70 |
Book Value of the Share on 31.03.2023 | Rs. | 93.70 | ||
BV of the Share after the FPO | Rs. | ? | ||
Offer Price at Cap | Rs. | 315 |
Aadhar Housing Finance IPO Ratio Analysis |
|
Price /EPS | 22.83 |
Price/Book Value Ratio | 3.61 |
Price/BV after IPO | ? |
How Aadhar Housing Finance IPO compares with the Peers?
Peer Comparison.
As on date of DRHP | FV | Total | PE |
Rs. | Income | Ratio of | |
Rs. In Cr | |||
Aadhar Housing Finance | 10 | 2043 | 22.82 |
Aptus Value Housing | 2 | 1093 | 36.70 |
Aavas Finance | 10 | 1609 | 27.80 |
Home First Finance | 2 | 791 | 38.20 |
India Shelter | 3 | 585 | 32.90 |
# This is only coverage of News related to Grey Market. We do not deal in grey market premium, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Aadhar Housing Finance IPO Guidance* by Paresh Gordhandas, CA & Research Analyst.
Aadhar Housing Finance Limited is a HFC focused on the low-income housing segment (ticket size less than Rs.1.5 million) in India and it had the highest AUM and net worth among its analyzed peers in six months ended September 30, 2023. In addition, according to the peer set analyzed by CRISIL, it had the highest number of live accounts in FY2023.
In addition, it has a presence in 20 states and union territories, which is the highest among the peers.
Size: Net size of the IPO( after deducting anchor portion is somewhat large and yet due to bullish sentiment of the capital market, oversubscription will not be any issue. With just 706565 applications, retail portion can get one time subscribed.
Financials: The business has strong growth potential. The company has an extensive network of 471 branches including 91 sales offices, as of September 30, 2023. Its branches and sales offices spread across 20 states and union territories, operating in approximately 10,926 pin codes across India, as of September 30, 2023. The shares are offered at very attractive. Apply with expectations of listing gains and also as long term investment.
Strategy seen in the grey market: Many of the players have accumulated shares initially at lower GMP, so that they can earn higher listing gains.
Quicklinks
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