Aadhar Housing Finance Ltd. has raised Rs 898 crore from anchor investors ahead of its initial public offering on May 8.
The company allotted 2,85,04,761 shares at Rs 315 apiece to 61 anchor investors.
It included investors such as HDFC Small Cap Fund, ICICI Prudential Banking and Financial Funds, SBI Life Insurance Co., and Invesco India Contra Fund, among others.
ICICI Prudential Banking and Financial Funds secured 3.34% of the allocation, while HDFC Small Cap Fund and HDFC Mutual Fund-HDFC Multi Cap Fund each netted 4.01%.
11 domestic mutual funds applied through a total of 28 schemes, the company said in an exchange filing. They have collectively netted 35.64% of the anchor portion of Rs 320 crore.
About The IPO
The 34-year-old Aadhar Housing Finance is scheduled to launch its three-day initial public offering on Wednesday. The IPO will close on Friday.
The IPO by the housing finance company comprises fresh issue of shares worth Rs 1,000 crore and an offer for sale of Rs 2,000 crore by promoters and shareholders, according to the red herring prospectus dated April 30.
Out of the total fundraise of Rs 3,000 crore, Aadhar Housing Finance intends to use Rs 750 crore to meet future requirements towards lending and other corporate purposes.
The price band is fixed at Rs 300 to Rs 315 per equity share.
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