Shares of Aadhar Housing Finance Ltd, backed by private equity major Blackstone, had a flat market debut on Wednesday, opening at Rs 315 on the NSE, the same as the issue price.
The stock reached a high of Rs 329.90 and a low of Rs 292.
On the BSE, the stock debuted at Rs 314.30, a 0.22% decrease from the issue price.
The company’s market valuation was Rs 13,480.12 crore.
The initial public offer of Aadhar Housing Finance was oversubscribed 25.49 times on the closing day of the share-sale, with an IPO size of Rs 3,000 crore.
This included a fresh issue of equity shares worth Rs 1,000 crore and an Offer-for-Sale (OFS) of Rs 2,000 crore by promoter BCP Topco VII Pte Ltd, an affiliate of Blackstone Group Inc.
The IPO had a price range of Rs 300-315 per share. The company plans to use Rs 750 crore of the fresh issue proceeds for future capital requirements and the rest for general corporate purposes.
Aadhar Housing Finance offers a variety of mortgage-related loan products and focuses on the low-income housing segment, with a network of 471 branches, including 91 sales offices.
It benefits from the resources, relationships, and expertise of Blackstone, a leading investment firm.
