Has the regulator approved the IPO of Aadhar Housing Finance?
Answer
Answer
The good news is that the Aadhar Housing IPO has finally got SEBI approval after almost 18 months of filling DRHP with SEBI. The reason for the delay are not too clear from the disclosure on the SEBI website. Aadhar Housing Finance is backed by global investment giant, Blackstone and plans to raise Rs.5,800 crore via OFS and fresh issue.
In the offer for sale, Blackstone will be the key participant. It may be recollected that Blackstone had picked up Aadhar stake from DHFL, after the latter went bankrupt in 2019. Blackstone had paid Rs.2,200 crore and invested an additional Rs.1,300 crore in Aadhar. The fresh issue inflow will be used to boost its Tier I capital base, which is anyways quite robust at 45.87%.