(20 second reading) Blackstone-backed Aadhar Housing Finance has decided to reduce the size of its IPO to Rs 3,000 crore from the originally planned Rs 5,000 crore.
The plan is to have a solid pop on market debut and have a successful listing, so the size of the IPO has come down. Initially, the offer for sale component was Rs 4,000 crore and now it has been revised to Rs 2,000 crore.
The updated draft red herring prospectus has been filed and as things stand, the IPO is likely to be launched in the second week of May.
The IPO valuation of Aadhar Housing Finance has been fixed at around Rs 13,500 crore.