Aadhar Housing Finance Ltd IPO
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Aadhar Housing Finance Ltd IPO Details
Details
| Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
|---|---|---|---|---|---|
| 952.38 L | 634.92 L | 332.56 L | 3,896.83 L | BSE | ₹ 3000 Cr |
| IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
| 08 May, 24 | 10 May, 24 | 47 | ₹ 14,100 | Book Building | 15 May, 24 |
Aadhar Housing Finance Ltd IPO Dates
Details
| Sector | Type |
|---|---|
| Sector | Finance - Housing |
| Sub Sector | NA |
| Issue Type | Book Building |
Subscription Status
*Values are in Lakhs
| Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
|---|---|---|---|
| QIB | 30.57x | 47507937 | 1452203838 |
| NII | 17.33x | 14252381 | 246956424 |
| Retail | 2.58x | 33255555 | 85736601 |
| Employee | 7.42x | 222222 | 1648384 |
| Total | 18.76x | 95238095 | 1786545247 |
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) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 712.04 | 580.35 | 443.47 |
| EBITDA | 728.53 | 593.60 | 454.66 |
| PAT | 544.58 | 444.65 | 339.97 |
| Total Assets | 2,295.54 | 2,069.55 | 2,508.83 |
| Share Capital | 394.76 | 394.76 | 394.76 |
| Total Borrowings | 12,456.26 | 10,938.87 | 10,587.06 |
| Operating Activities (Net Cash) | 561.07 | 457.90 | 351.16 |
| Investing Activities (Net Cash) | 458.25 | 338.03 | 497.10 |
| Financing Activities (Net Cash) | 12,456.26 | 10,938.87 | 10,587.06 |
| Net Cashflow | 1,916.17 | 1,708.75 | 2,169.77 |
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:
- 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
- Its Erstwhile Promoters are subject to certain ongoing regulatory investigations by enforcement agencies including the Enforcement Directorate and the outcome of such investigations may adversely impact it and the Equity Shares held by its Promoter, BCP Topco and the market price of the Equity Shares of the Company.
- Whilst its Company has disassociated itself from the Erstwhile Promoter Entities, there are existing agreements with certain Erstwhile Promoter Entities which cannot be unilaterally terminated by the company.
- Its Promoter will continue to exert substantial voting control over the Company after completion of the Offer, which may limit your ability to influence the outcome of matters submitted for approval of its shareholders.
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.
- 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.
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.
