Aadhar Housing Finance, a prominent housing finance company, made its debut on the National Stock Exchange (NSE) today with its Initial Public Offering (IPO) listing at ₹315 per share. The IPO, which was open for subscription from May 8, 2024, to May 10, 2024, witnessed significant investor interest, with a subscription rate of 25.49 times on its final day.
Founded by Kapil Wadhawan in 2010, this Mumbai-based company focuses on providing mortgage loans to the economically weaker and low-to-middle-income segments, catering to the growing demand for affordable housing in India.
IPO Overview The IPO was open for subscription from May 8, 2024, to May 10, 2024, with a price band of ₹300 to ₹315 per share. Retail investors could apply for a lot size of 47 shares. The subscription details showcased strong interest from various investor categories:
- Qualified Institutional Buyers (QIB): 72.78 times
- Non-Institutional Investors (NII): 16.5 times
- Retail Investors: 2.46 times
- Employees: 6.52 times
Company Strengths Aadhar Housing Finance is strategically positioned to meet India’s expanding housing demands, with a large market potential driven by the increasing middle-class population. The company benefits from the growth in bank account penetration in India, providing access to a broader consumer base. Furthermore, India’s low credit penetration rate indicates significant room for expansion in the housing finance sector, with substantial unrealized market potential.
Aadhar Housing Finance’s successful IPO listing on the NSE at ₹315 per share reflects investor confidence in the company’s growth potential and its ability to capitalize on the affordable housing market in India. With its strong financial performance and strategic positioning, Aadhar Housing Finance is well-placed to navigate the opportunities and challenges in the housing finance sector.
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