Aadhar Housing Finance Limited (MAINBOARD)
May 8, 2024 - May 10, 2024
| Price | ₹300 - ₹315 |
| Premium | ₹43 |
|---|---|
| Lot size | 47 |
| Allotment | May 13, 2024 |
| Listing | May 15, 2024 |
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 47 | 14805 | 707565 |
| sHNI | 14 | 658 | 207270 | 7220 |
| bHNI | 68 | 3196 | 1006740 | 14440 |
Last Updated as on 10-May-2024 17:54:00
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIBs | 19003176 | 1452203838 | 76.42 |
| HNIs | 14252381 | 246929023 | 17.33 |
| HNIs (10L+) | 9501587 | 179554617 | 18.9 |
| HNIs (2-10L) | 4750794 | 67374406 | 14.18 |
| Retail | 33255556 | 85667041 | 2.58 |
| Employees | 239726 | 1646786 | 6.87 |
| Total | 66750839 | 1786446688 | 26.76 |
Application Wise Breakup (Approx) | |||
|---|---|---|---|
| Category | Reserved | Applied | Times |
| HNIs (10L+) | 14440 | 55436 | 3.84 |
| HNIs (2-10L) | 7220 | 99637 | 13.8 |
| Retail | 707565 | 1483361 | 2.1 |
| Total Application : 1638434 | |||
| © IPO Premium | |||
| QIB Interest Cost per share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹32.32 | @8% ₹36.93 | @9% ₹41.55 | @10% ₹46.17 | @11% ₹50.78 | @12% ₹55.4 |
| Big HNI (10L+) Cost per lot (7 Days) |
|---|
| Assuming fix interest of ₹2000 per application Big HNI (10L+) costing for every 1 lot allotment is ₹7560 |
TOP 5 ANCHOR LIST
| Name of Anchor | No. of Shares | % Portion | Amount (cr) |
|---|---|---|---|
| STICHTING DEPOSITORY APG EMERGING MARKETS EQUITY POOL | 1269846 | 4.45% | 40.00 |
| SBI LIFE INSURANCE COMPANY LIMITED | 1269846 | 4.45% | 40.00 |
| WINRO COMMERCIAL (INDIA) LTD | 1269846 | 4.45% | 40.00 |
| HDFC SMALLCAP FUNDS | 1142899 | 4.01% | 36.00 |
| HDFC MUTUAL FUND - HDFC MULTI CAP FUND | 1142852 | 4.01% | 36.00 |
Established in 2010, Aadhar Housing Finance Limited is a prominent housing finance company dedicated to serving the lower income segment in India. With a strong focus on tier 4 and tier 5 towns, the company operates through its network of 471 branches and 91 sales offices spread across 20 states and union territories. A key aspect of its operations is the engagement of 12,221 Aadhar Mitras, who receive referral fees for sourcing customer loans, facilitating outreach and accessibility to financial services. Offering a comprehensive range of mortgage loan products for residential and commercial properties, including purchase, construction, home improvement, and extension, Aadhar Housing Finance has successfully served 246,983 customers nationwide. With a workforce of 3,695 employees and its subsidiary, Aadhar Sales and Services Private Limited (ASSPL), employing 1,851 individuals, the company is committed to providing inclusive and tailored financial solutions to meet the diverse needs of its clientele.
Aadhar Housing Finance IPO Details
| Issue Size | [95,238,095] shares (aggregating up to ₹3,000 Cr) |
| Fresh Issue | [31,746,032] shares (aggregating up to ₹1,000 Cr) |
| Offer for Sale | [63,492,063] shares of ₹10 (aggregating up to ₹2,000 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 394,754,970 |
| Share holding post issue | 426,501,002 |
Aadhar Housing Finance IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not More than 50% of the Net Issue |
| Retail Shares Offered | Not Less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not Less than 15% of the Net Issue |
Key Performance Indicator
| KPI | Dec-23 | Mar-23 | Mar-22 |
|---|---|---|---|
| ROE | 18.40% | 16.50% | 13.50% |
| RONW | 12.90% | 14.70% | 14.10% |
| D/E | 3.1 | 3.3 | 3.4 |
| EPS (diluted) |
13.50 | 13.40 | 10.90 |
| P/BV | 2.93 | ||
|
P/E Pre IPO |
22.8 |
Company Financials
Aadhar Housing Finance Limited Financial Information (Restated Consolidated)
Aadhar Housing Finance Limited's revenue increased by 18.22% and profit after tax (PAT) rose by 22.22% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period | Dec 2023 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|
| Assets | 18,035.57 | 16,617.87 | 14,375.81 | 13,630.33 |
| Revenue | 1895.17 | 2,043.52 | 1,728.56 | 1,575.55 |
| Profit | 547.88 | 545.34 | 446.20 | 340.46 |
| Net Worth | 4249.10 | 3,697.60 | 3,146.63 | 2,692.76 |
| Borrowing | 13,127.59 | 12,153.45 | 10,674.59 | 10,374.47 |
| Amount in ₹ Crore | ||||
Strength Factors
Resilient Business Model: The company possesses a seasoned business model that exhibits strong resilience across various business cycles, ensuring stability and sustainability over time.
Extensive Network: With 471 branches and 91 sales offices spread across 20 states and union territories, Aadhar Housing Finance enjoys significant geographical penetration and diverse sales channels, enhancing both loan sourcing and servicing capabilities.
Robust Systems and Processes: Aadhar Housing Finance has implemented robust and comprehensive systems and processes for underwriting, collections, and asset quality monitoring, facilitating efficient management of loan portfolios and minimizing credit risks.
Risk factors
Reliance on Borrower Information: The company's dependency on the accuracy and completeness of information provided by potential borrowers and third-party service providers poses a risk. Misleading information could impact the assessment of creditworthiness and the value of collateral, potentially affecting the company's business operations, financial condition, and results.
Negative Cash Flows: Historical negative net cash flows and the potential for continued negative cash flows in the future present a risk to the company's financial stability and growth prospects.
Indebtedness and Financing Arrangements: Aadhar Housing Finance's indebtedness and the conditions and restrictions imposed by financing arrangements may adversely affect its ability to conduct business and operations. These constraints could limit flexibility in decision-making and hinder the company's ability to pursue growth opportunities.
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