New Delhi: Aadhar Housing Finance Ltd, which is backed by private equity major Blackstone, has filed preliminary papers with capital markets regulator Sebi to raise Rs5,000 crore through an Initial Public Offering (IPO).
The IPO is a combination of a fresh issue of equity shares worth Rs1,000 crore and an offer-for-sale (OFS) of Rs4,000 crore by promoter BCP Topco VII Pte Ltd, an affiliate of Blackstone Group Inc, according to the Draft Red Herring Prospectus (DRHP) filed on Wednesday. Currently, BCP Topco holds a 98.72 per cent stake in Aadhar Housing Finance. The company proposes to utilise the proceeds from the fresh issue to the tune of Rs750 crore for meeting future capital requirements towards onward lending and a portion will also be used for general corporate purposes. Aadhar Housing Finance offers a range of mortgage-related loan products, including loans for residential property purchase and construction; home improvement and extension loans; and loans for commercial property construction and acquisition. It has a network of 471 branches, including 91 sales offices, as of September 30, 2023.