Aadhar Housing Finance made a muted listing on the bourses on May 15. The company’s shares were listed at Rs 315 on the National Stock Exchange.
In the grey market, Aadhar Housing’s stocks were fetching a premium of 15% to the issue price. The grey market is an unofficial market where shares change hands in an illegal way before listing.
Aadhar Housing raised Rs 3,000 crore from investors by offering them 95.2 million shares via a combination of fresh issues and an offer for sale.
According to the lending company, the raised funds will be utilised to meet the future capital requirements towards onward lending and other general corporate purposes.
About IPO
The company had set a price band of Rs 300 to 315 per equity share. In which, retail investors had to bid for a minimum of 47 shares equalling to Rs 14,805.
The issue had an employee reservation of 2,39,726 shares as well, which was offered at a discount of Rs 23 to the issue price.
Citigroup Global Markets India, ICICI Securities, Citigroup Global Markets India, Kotak Mahindra Capital Company, Nomura Financial Advisory and Securities (India), and SBI Capital Markets were the book-running lead managers. Kfin Technologies was the registrar for the issue.
