You are here: Home » Markets » News
Business Standard

Blackstone's Aadhar Housing Finance plans $1 billion IPO filing soon

Founded in 2010, Aadhar has more than 294 branches across the South Asian country, providing financing solutions to customers whose monthly income ranges between $76 to $765

Topics
Blackstone | IPOs | Markets

Baiju Kalesh | Bloomberg 

IPO, shares, company, firms, market
In 2019, Blackstone acquired a majority stake in the company and injected 8 billion rupees primary equity share to fund its growth.

Aadhar Housing Finance Ltd., controlled by Group Inc., is planning to file a draft prospectus for its initial public offering in India as soon as this month, according to people familiar with the matter.

Aadhar, one of India’s largest mortgage providers to low-income earners, plans to raise as much as $1 billion from the share sale, the people said. The Mumbai-based company is looking to launch the offering as soon as the first half of this year, said the people, who asked not to be identified as the information is private.

Founded in 2010, Aadhar has more than 294 branches across the South Asian country, providing financing solutions to customers whose monthly income ranges between $76 to $765, according to its website. The company had about 114 billion rupees ($1.6 billion) of assets under management in the latest financial year, about 14% higher than the previous year, its annual report shows.

In 2019, acquired a majority stake in the company and injected 8 billion rupees primary equity share to fund its growth. The private equity firm now has a 98.7% stake.

Deliberations on Aadhar’s IPO are ongoing and details including size and timing could still change, the people said. A representative for declined to comment.

Blackstone is doubling down on Asia, seeking to raise at least $5 billion for its second private equity fund focused on the region, Bloomberg reported in November. The U.S. firm is the backer of Embassy Office Parks REIT, which raised $689 million in India’s first such listing in April 2019. That was followed by another REIT that’s also backed by Blackstone in August last year.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, January 13 2021. 07:47 IST
RECOMMENDED FOR YOU
.