Aadhar Housing Finance Ltd

According to CRISIL, Aadhar Housing Finance Limited is a housing finance company focused on the low-income housing segment (ticket size less than Rs.1.5 million) in India and we had the highest asset under management and net worth among our analyzed peers in FY2021, FY2022, FY2023 and nine months ended December 31, 2022 and December 31, 2023. We offer a range of mortgage-related loan products. The Company has an extensive network of 487 branches including 109 sales offices, as of December 31, 2023. its branches, sales offices, regional and corporate offices, including Registered Office and Corporate Office, are located on leased or licensed premises.

Open Demat Account

50years

Aadhar Housing Finance Ltd IPO Details

Details

Total Shares OfferedOffer to PublicRetail Max (Shares)Pre Issue Promoters HoldingExchangeIssue size
952.38 L634.92 L332.56 L3,896.83 LBSE₹ 3000 Cr
IPO Open DateClose DateLot SizeMin InvestmentIssue TypeListing Date
08 May, 2410 May, 2447 ₹ 14,100 Book Building15 May, 24

Aadhar Housing Finance Ltd IPO Details

Aadhar Housing Finance Ltd IPO Dates

  • 08 May 2024

    Opening date

  • 10 May 2024

    Closing date

  • 13 May 2024

    Basis of
    Allotment

  • 14 May 2024

    Initiation of
    Refunds

  • 14 May 2024

    Credit of
    Shares

  • 15 May 2024

    Listing date

Details

SectorType
SectorFinance - Housing
Sub SectorNA
Issue TypeBook Building

Subscription Status

*Values are in Lakhs

Investor TypeSubscription Times
QIB72.78x
NII16.5x
Retail2.46x
Employee7.42x
Total25.49x

Subscription Status

Investor Type

QIB

NII

Retail

Employee

Total

*Values are in Lakhs

Aadhar Housing Finance Ltd Financial Status

Income Statement

Balance Sheet

Particulars (in Rs. Crores)FY23FY22FY21
Revenue from operations712.04580.35443.47
EBITDA728.53593.60454.66
PAT544.58444.65339.97
Total Assets2,295.542,069.552,508.83
Share Capital394.76394.76394.76
Total Borrowings12,456.2610,938.8710,587.06
Operating Activities (Net Cash)561.07457.90351.16
Investing Activities (Net Cash)458.25338.03497.10
Financing Activities (Net Cash)12,456.2610,938.8710,587.06
Net Cashflow1,916.171,708.752,169.77

Particulars (in Rs. Crores)

Revenue from operations

EBITDA

PAT

Total Assets

Share Capital

Total Borrowings

Operating Activities (Net Cash)

Investing Activities (Net Cash)

Financing Activities (Net Cash)

Net Cashflow

About Aadhar Housing Finance Ltd

Aadhar Housing Finance Limited was originally incorporated as `Vysya Bank Housing Finance Limited' at Bengaluru, Karnataka as a public company under the Companies Act, 1956, pursuant to a certificate of incorporation dated November 26, 1990, issued by the Registrar of Companies, Karnataka at Bangalore (RoC) and commenced operations pursuant to a certificate for commencement of business dated November 27, 1990, issued by the RoC. Subsequently, the name of the Company was changed to `DHFL Vysya Housing Finance Limited' and a fresh certificate of incorporation dated October 15, 2003, was issued by the RoC. Separately, an entity named `Aadhar Housing Finance Private Limited' (Pre-merger AHFPL) was incorporated as a private limited company under the Companies Act, 1956, at Mumbai, Maharashtra pursuant to a certificate of incorporation dated May 3, 2010, issued by the Registrar of Companies, Maharashtra at Mumbai, which commenced its operations in February 2011. Pre-merger AHFPL was later converted into a public company and consequently, its name was changed to `Aadhar Housing Finance Limited', and a fresh certificate of incorporation dated September 3, 2013 was issued by the Registrar of Companies, Maharashtra at Mumbai. Pre-merger AHFPL was later merged into the Company pursuant to a scheme of amalgamation approved by the National Company Law Tribunal, Bengaluru Bench at Bengaluru, vide its order dated October 27, 2017 (Scheme of Amalgamation). Pursuant to the Scheme of Amalgamation, the name of the Company was changed to `Aadhar Housing Finance Limited' and a fresh certificate of incorporation dated December 4, 2017, was issued by the RoC.

The overall size of the housing finance market focusing on low income housing loans in India was around Rs. 4.4 trillion as of December 2023, constituting for around 14% of the overall housing finance market, as per CIBIL data. CRISIL MI&A expects the industry to pick up steam gradually and the loans outstanding in housing finance focused on low income housing segment to touch Rs. 5.4-5.7 trillion by March 2026, translating into an 8-10% CAGR between Fiscals 2023 and 2026.

Peer Comparison:

  • Aadhar Housing Finance Ltd
  • Aptus Value Housing Finance India Ltd
  • AAVAS Financiers Ltd
  • Home First Finance Company India Ltd
  • India Shelter Finance Corporation Ltd

Aadhar Housing Finance Ltd IPO Key Points

Strengths

  • HFC focused on the low income housing segment (ticket size less than Rs.1.5 million) in India with the highest AUM and net worth among our analyzed peers in Fiscal 2021, Fiscal 2022, Fiscal 2023 and nine months ended December 31, 2022 and December 31, 2023.
  • Seasoned business model with strong resilience through business cycles.
  • Extensive branch and sales office network, geographical penetration and sales channels which contribute significantly to loan sourcing and servicing.
  • Robust, comprehensive systems and processes for underwriting, collections and monitoring asset quality.
  • Access to diversified and cost-effective long-term financing with a disciplined approach to asset liability and liquidity management.

Risk

  • The company Erstwhile Promoters are subject to ongoing regulatory investigations by enforcement agencies including the Enforcement Directorate and the outcome of such investigations may adversely impact the company and the Equity Shares held by its Promoter, BCP Topco and the market price of the Equity Shares of the Company.
  • The company is party to certain legal proceedings and any adverse outcome in these or other proceedings may adversely affect its business.
  • The company depends on the accuracy and completeness of information provided by its potential borrowers and third-party service providers. Its reliance on any misleading information given by potential borrowers may affect its judgment of credit worthiness of potential borrowers, and the value of and title to the collateral, which may affect its business, results of operations, cash flows and financial condition.

Strategy

  • Expand its Distribution Network to Achieve Deeper Penetration in key states.
  • Continue to focus on its target customers and grow its customer base.
  • Continue to invest in and roll out digital and technology enabled solutions across its business to improve customer experience and improve cost efficiency.
  • Optimize its borrowing costs and reduce operating expenses further.

Aadhar Housing Finance Ltd IPO Key Points

  • HFC focused on the low income housing segment (ticket size less than Rs.1.5 million) in India with the highest AUM and net worth among our analyzed peers in Fiscal 2021, Fiscal 2022, Fiscal 2023 and nine months ended December 31, 2022 and December 31, 2023.
  • Seasoned business model with strong resilience through business cycles.
  • Extensive branch and sales office network, geographical penetration and sales channels which contribute significantly to loan sourcing and servicing.
  • Robust, comprehensive systems and processes for underwriting, collections and monitoring asset quality.
  • Access to diversified and cost-effective long-term financing with a disciplined approach to asset liability and liquidity management.
  • The company Erstwhile Promoters are subject to ongoing regulatory investigations by enforcement agencies including the Enforcement Directorate and the outcome of such investigations may adversely impact the company and the Equity Shares held by its Promoter, BCP Topco and the market price of the Equity Shares of the Company.
  • The company is party to certain legal proceedings and any adverse outcome in these or other proceedings may adversely affect its business.
  • The company depends on the accuracy and completeness of information provided by its potential borrowers and third-party service providers. Its reliance on any misleading information given by potential borrowers may affect its judgment of credit worthiness of potential borrowers, and the value of and title to the collateral, which may affect its business, results of operations, cash flows and financial condition.
  • Expand its Distribution Network to Achieve Deeper Penetration in key states.
  • Continue to focus on its target customers and grow its customer base.
  • Continue to invest in and roll out digital and technology enabled solutions across its business to improve customer experience and improve cost efficiency.
  • Optimize its borrowing costs and reduce operating expenses further.

How To Apply for Aadhar Housing Finance Ltd Online?

Step 1:

Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.

Step 2:

From the list of open IPOs, select the IPO you want to invest.

Step 3:

Go through the IPO details like lot size, price band, about the company, etc.

Step 4:

Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.

Step 5:

Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.

Get your FAQs right

Aadhar Housing Finance Ltd's IPO offers shares for up to ₹ 0.01 L It begins on May 8, 2024 and ends on May 10, 2024.

The price of Aadhar Housing Finance Ltd IPO ranges between ₹300 to ₹315 per share.

The Aadhar Housing Finance Ltd IPO opens on May 8, 2024 and closes on May 10, 2024.

The allotment for the Aadhar Housing Finance Ltd IPO will be finalised on May 13, 2024. The shares will be listed on BSE and NSE on May 15, 2024.

The minimum lot size for Aadhar Housing Finance Ltd IPO is 47 shares, priced between ₹300 to ₹315 per share.

The GMP (Grey Market Premium) of Aadhar Housing Finance Ltd IPO fluctuates based on market demand and sentiment.

To check the allotment status of Aadhar Housing Finance Ltd IPO, visit the registrar's website, select the IPO, enter your PAN Card number, Application Number, or DP Client ID, and click 'search.'

The Aadhar Housing Finance Ltd IPO is getting listed on the BSE and NSE. Bidding opens on May 8, 2024, and closes on May 10, 2024. The allotment is finalised on May 13, 2024.

To apply for the Aadhar Housing Finance Ltd IPO, download the BlinkX app, complete KYC, select the IPO, enter bid details, and submit. Verify UPI payment for shares allotment.