The Securities and Exchange Board of India (Sebi) has given its approval for the Rs 5,000-crore initial public offering (IPO) of Aadhar Housing Finance. The proposed IPO will combine a fresh issue of shares of up to Rs 1,000 crore and an offer for sale of Rs 4,000 crore.
The retail-focused housing finance company focusses on the low-income housing segment with a loan ticket size of less than Rs 15 lakh. The average ticket size as on September 30, 2023, was Rs 9 lakh with an average loan-to-value of 58.1%.
The objective of the fresh issue is to meet future capital requirements and towards onward lending and general corporate purposes.
ICICI Securities, Citigroup Global Markets India, Kotak Mahindra Capital Company, Nomura Financial Advisory and Securities (India), and SBI Capital Markets are the bookrunning lead managers for the IPO.