Aadhar Housing Finance IPO Subscribed 1.55x on Day 2

On the second day of bidding, the Aadhar Housing Finance IPO witnessed a growth in subscriptions from investors. The bidding process will continue until Friday, May 10, 2024, and investors can subscribe until that day. Aadhar Housing IPO is a combination of a fresh issue and an offer for sale, and the company is seeking to raise Rs 3,000.00 crore.

The price band of Aadhar Housing Finance IPO has been set at ₹300 to ₹315 per share. The minimum lot size for an application is 47 Shares. The minimum amount of investment required by retail investors is ₹14,805. The minimum lot size investment for sNII is 14 lots (658 shares), amounting to ₹2,07,270, and for bNII, it is 68 lots (3,196 shares), amounting to ₹10,06,740.

Day Wise Subscription

• On the 1st day of subscription, i.e. May 08, 2024, the IPO was subscribed 0.47x in total. QIBs subscribed 0.35x, NIIs 0.63x, and employees 2.20x, while retail investors subscribed 0.45x.
• On the 2nd day of subscription, i.e. May 09, 2024, Aadhar Housing IPO witnessed a growth in subscription to 1.55x. This comprised QIB’s subscription of 2.15x, NIIs 2.04x, employee 3.79x and retail 0.99x.

Grey Market Premium

The shares of Aadhar Housing IPO were trading at a GMP of ₹66. With an upper price range of ₹315, Aadhar Housing IPO’s estimated listing price is ₹381 (cap price + today’s GMP). The expected percentage gain per share stands at 20.95%.

Aadhar Housing Finance Business Overview

Aadhar Housing Finance Ltd. (AHFL) operates a housing finance business in India, focusing on the low-income housing segment (ticket size less than ₹1.5 million). AHFL is a retail-focused HFC that serves economically weaker and low-to-middle-income customers who require small-ticket mortgage loans.

It 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. The company’s financial performance has remained consistent and resilient through various external events in the Indian economy.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.