October 27, 2022
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Aadhar Housing Finance IPO Analysis @ Chanakyanipothi.com,
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| Aadhar Housing IPO Grey Market News | ||
| Updated on (?) | ||
| Observation: | ||
| Fix | Subject to | |
| GMP Rs. | Application | Application |
| Rs | Rs. | |
| Retail | ||
| Small HNI (2L+) | ||
| Big HNI (10L+) | ||
| Subscription Trend | On 24.09.2022 | at 5.00 pm |
| Shares | Subscribed | |
| QIB | ||
| NII 10L+ | ||
| Retail 2L+ | ||
| Retail | ||
| Employees | ||
| Total |
Aadhar Housing Finance IPO Promoters
BCP TOPCO VII PTE. LTD
Aadhar Housing Finance IPO Company Details
Aadhar Housing Finance is the largest Affordable HFC in India in terms of AUM, as of March 31, 2020. It is approximately 1.5 times larger than the second largest peer set company based on AUM as on March 31, 2020. Compared to its peers, it has the largest customer base as on March 31, 2020, and have the highest disbursement for financial year ended March 31, 2020. Further, as of March 31, 2020, it has the most geographically diversified AUM as well as the highest efficiency in terms of operating expenditure ratios. It is an entirely retail-focused affordable housing finance company, serving economically weaker and low-to-middle income customers, who require small ticket mortgage loans.
The average ticket size of our loans was Rs 0.85 million, with an average loan-to-value of 56.73%, as of September 30, 2020.
As of September 30, 2020, 64.83% and 35.17% of our Gross AUM comprised loans to salaried customers and to self-employed customers, respectively. It offers a range of mortgage-related loan products, including loans for residential property purchase and construction; home improvement and extension loans; and loans for commercial property construction and acquisition.
Its financial performance has remained consistent and resilient through various external events in the Indian economy. Its Gross AUM increased from Rs 79,659.2 million in FY2018, to Rs100,157.5 million in FY2019 and Rs114,316.6 million in FY2020.
Aadhar Housing Finance has made social objectives one of the core objectives of its business model. It operates a financially inclusive customer centric lending business and believe that its business model contributes significantly to the economic upliftment of its target customers by contributing to an improvement in their standard of living. Its presence in rural and semi urban locations across India provides a source of employment in these locations. It has an extensive network of 292 branches, as of September 30, 2020. Its branches are spread across 20 states and union territories, operating in approximately 12,000 locations across India, as of September 30, 2020. Its branch network is widely
dispersed with no state accounting for more than 16.2% in terms of Gross AUM
For more information, click www.aadharhousing.com
Objects of the IPO
The Company proposes to utilize the Net Proceeds towards augmenting its capital base to meet its future capital requirements.
| Aadhar Housing IPO Details | |
| IPO opens on | (?) ,2022 |
| IPO closes on | (?) ,2022 |
| Issue Type | Book Built Issue IPO |
| Issue Size | up to (?) Shares /Rs 7300 Cr |
| * Fresh Issue | Rs.1500 Cr |
| * Offer for Sale | up to NIL Shares /Rs 5800 Cr |
| Face Value per share: | Rs. 10 |
| Price Band | Rs. (?) |
| Employee discount | Rs. (?) per share |
| Retail Lot Size | (?) Shares |
| Listing will at | BSE, NSE |
| Shares offered to | Shares | Rs. |
| QIB (50 %) | – | Rs (?) Cr |
| NII (15 %) | – | Rs (?) Cr |
| RII (35 %) | – | Rs (?) Cr |
| Employees | – | Rs (?) Cr |
| Total Shares | – | |
| Retail portion will be oversubscribed by | – Forms | |
| How much Shares to Apply? | ||
| Min Retail Application | – Shares | Rs. – |
| Max Retail Application | – shares | Rs. – |
| Small HNI (Min) application | – Shares | Rs. – |
| Small HNI (Max) application | – shares | Rs. – |
| Big HNI Application | – shares | Rs. – |
| Aadhar Housing IPO Tentative timetable | |
| IPO opens on | ? ,2022 |
| IPO Closes on | ? ,2022 |
| IPO Allotment on | ? ,2022 |
| Unblocking of ASBA | ? ,2022 |
| Credit to Demat Accounts | ? ,2022 |
| Listing on | ? ,2022 |
| Registered Office of Aadhar Housing Finance | |
| 2nd floor, No. 3, JVT Towers, 8th ‘A’, Main Road, S.R. Nagar, Bengaluru 560 027, Karnataka, | |
| Aadhar Housing IPO Lead Managers | |
| ICICI Securities, Citibank Global, Nomura Financial Advisory, SBI Capital Markets, | |
| Registrar to Aadhar Hsg Finance IPO | |
| Kfin Technologies Pvt. Ltd. |
| Aadhar Housing Finance IPO Financial & Analytical Ratios | ||||
| Year | Total Income | Net Profit | EPS | RoNW |
| Rs. | Rs. | Rs. | % | |
| 2019-20 | 1388.67 | 189.38 | 5.86 | 8.07 |
| 2020-21 | 1575.33 | 340.13 | 8.62 | – |
| 2021-22 (9M) | 1276.13 | 329.60 | 8.35 | – |
| Book Value of the Share on | 31.03.2022 | NA | ||
| Book Value of the Share | after the IPO | Rs. | ||
| Offer Price | Rs. – | |||
| Ratio Analysis | |
| Upper Price Band/last EPS | – |
| Upper offer price/Book Value Ratio | – |
| Upper offer price/BV after IPO Ratio | – |
Aadhar Housing Finance IPO Peer Comparison
| As on date of DRHP | Total Income Rs. | Net | PE |
| Rs. in Cr. | Income | Profit | Ratio of |
| Rs. | Rs | ||
| The IPO Company | 0 | 0 | (?) |
| Aavas Financiers | 0 | 0 | 61.2 |
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