Ahmedabad: Aadhar Housing Finance Limited proposes to open the initial public offering of its Equity Shares on Wednesday, May 8, 2024.

“The initial public offering comprises a fresh issue of Equity Shares aggregating to ₹ 10,000 million (“Fresh Issue”) and an offer of sale of up to such number of Equity Shares aggregating up to ₹ 20,000 million by BCP Topco VII Pte. Ltd. (the “Promoter Selling Shareholder”) (“Offer for Sale” and together with the Fresh Issue, the “Offer”).” the company said in a statement.

The statement said, “The Company proposes to utilize the Net Proceeds from the Fresh Issue, (i) to meet future capital requirements towards onward lending; and (ii) general corporate purposes.”

Amit Dixit, Head of Private Equity Asia, Blackstone, said, “The listing is a significant milestone for Aadhar Housing Finance Limited, and its transformation is a great example of what we do best: Building businesses that build India. We brought our scale, network, and best global practices to grow the business, and empowered the company in digitizing its processes, end to end from origination to collection. It has been a wonderful partnership, and we couldn’t be more proud of where the business stands today.”

Mukesh Mehta, Senior Managing Director in Blackstone Private Equity, said, “It is rewarding to be a part of Aadhar Housing Finance Limited’s mission to enable underserved Indians to own homes and play a role in the company’s transformation and growth. Our priority has been to build through close alignment with the Company’s leadership and using Blackstone’s access to capital, resources, and our technology expertise.”

Rishi Anand, Managing Director & Chief Executive Officer, Aadhar Housing Finance Limited, said, “This is a significant milestone in our journey towards empowering individuals and families with the keys to their own homes. With the true meaning of ‘Ghar Banega, Toh Desh Banega’, we embrace the responsibility of nation-building and laying a foundation for stronger communities.”

“ICICI Securities Limited, Citigroup Global Markets India Private Limited, Kotak Mahindra Capital Company Limited, Nomura Financial Advisory and Securities (India) Private Limited and SBI Capital Markets Limited are the Book Running Lead Managers to the Offer, the press statement said.