Aadhar Housing Finance IPO
Aadhar Housing Finance IPO — date, price band, lot size & details 2024
Aadhar Housing Finance listed on 15 May 2024 at ₹315, flat to the ₹315 issue price.
Aadhar Housing Finance is a housing finance company focused on low income home loans, with ticket sizes below Rs 1.5 million, mainly for first-time buyers. Its total income was Rs 2,043.52 crore in FY2023.
Stock price
Aadhar Housing Finance is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 08 May 2024
- Close 10 May 2024
- Allotment 13 May 2024
- Refund/credit 14 May 2024
- Listing 15 May 2024
Issue summary
The terms of the offer, as filed.
| IPO Dates | 8 to 10 May, 2024 |
|---|---|
| Price Band | ₹300 – ₹315 |
| Face Value | ₹10 |
| Lot Size | 47 Shares |
| Issue Size | ₹3000 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Employee Discount | Rs 23.00 per share |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 14,805 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 47 shares at the ₹315 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 47 | ₹14,805 |
| Retail (max) | 13 | 611 | ₹1,92,465 |
| S-HNI (min) | 14 | 658 | ₹2,07,270 |
| S-HNI (max) | 67 | 3,149 | ₹9,91,935 |
| B-HNI (min) | 68 | 3,196 | ₹10,06,740 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Profit after tax rose from Rs 340.46 crore in FY2021 to Rs 545.34 crore in FY2023.
- 02Profit after tax was Rs 547.88 crore in the nine months to 31 December 2023, already above the full FY2023 figure.
- 03Total income rose from Rs 1,575.55 crore in FY2021 to Rs 2,043.52 crore in FY2023.
- 04Rs 1,000.37 crore of the issue was fresh capital for lending growth.
- 05Net worth grew from Rs 2,692.76 crore on 31 March 2021 to Rs 4,249.10 crore on 31 December 2023.
Risks · 5
- 01Rs 1,999.63 crore of the Rs 3,000 crore issue was offer for sale by the promoter.
- 02Total borrowing was Rs 13,127.59 crore on 31 December 2023, and the source puts debt to equity at 3.10.
- 03Low income borrowers in small towns are more sensitive to income shocks, and ticket sizes are below Rs 1.5 million.
- 04The pre-issue P/E was 22.8 at the upper band of Rs 315, based on EPS of Rs 13.81.
- 05Promoter holding fell from 98.72% before the issue to 76.48% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Aadhar Housing Finance offer document.
| Metric | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 18,035.57 | 16,617.87 | 14,375.81 | 13,630.33 |
| Total Income | 1,895.17 | 2,043.52 | 1,728.56 | 1,575.55 |
| Profit After Tax | 547.88 | 545.34 | 446.20 | 340.46 |
| NET Worth | 4,249.10 | 3,697.60 | 3,146.63 | 2,692.76 |
| Total Borrowing | 13,127.59 | 12,153.45 | 10,674.59 | 10,374.47 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Aadhar Housing Finance RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Aadhar Housing Finance IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹13.81 | ₹17.13 |
| P/E Ratio (x) | 22.80 | 18.39 |
| Market Cap at Offer Price (₹ Cr) | ₹12,496.90 | ₹10,074.85 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹315 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹952.33 Cr of the issue is earmarked to named objects.
About the company
It offers mortgage loans for buying and building homes and commercial property, and for home improvement and extension. It uses deep impact branches and sales offices to reach customers in tier 4 and tier 5 towns, and a network of Aadhar Mitras who earn referral fees.
Its promoter is BCP Topco VII Pte. Ltd., an affiliate of Blackstone.
The IPO was Rs 3,000 crore, with Rs 1,000.37 crore of fresh issue and Rs 1,999.63 crore of offer for sale by the promoter. Rs 750.00 crore was planned for onward lending.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Aadhar Housing Finance IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
SBI Capital Markets Ltd.
70 issues handledBest listing: Bajaj Housing Finance (+114.3%). Weakest: Kalyan Jewellers India (-15.0%).
ICICI Securities
133 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Kotak Mahindra Capital Company Limited
93 issues handledBest listing: Premier Energies (+120.0%). Weakest: Rategain Travel Technologies (-15.3%).
Citigroup Global Markets India Pvt. Ltd
29 issues handledBest listing: Tata Technologies (+140.0%). Weakest: Kalyan Jewellers India (-15.0%).
Nomura Financial Advisory & Securities (India) Pvt. Ltd
24 issues handledBest listing: Happiest Minds Technologies (+110.8%). Weakest: Shriram Properties (-23.7%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Aadhar Housing Finance?
The current Grey Market Premium is ₹55, or 17% over the issue price.
What is the Aadhar Housing Finance IPO price band?
₹300 to ₹315, on a face value of ₹10.
When is the allotment?
The basis of allotment is 13 May 2024, with listing on 15 May 2024.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
