Blackstone-backed Aadhar Housing Finance files papers for $1 billion IPO
Aadhar Housing Finance will use proceeds from the fresh issue to boost its capital base. The company s capital to risk (weighted) assets ratio was 47.84% as of Sept. 30, 2020
Reuters | January 26, 2021 | Updated 17:43 IST
Blackstone was seeking to raise at least $5 billion for its second private equity fund focused on Asia, Bloomberg News reported in November
India s Aadhar Housing Finance Ltd, backed by private equity firm Blackstone Group Inc, has filed for an initial public offering of up to Rs 73 billion ($999.68 million), draft papers submitted to the market regulator showed on Tuesday.
The offering will comprise a fresh issue of shares worth up to Rs 15 billion by the housing financier and shares worth up to Rs 58 billion by BCP Topco VII Pte Ltd, an entity managed by Blackstone that owns 98.72% in the company.
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Aadhar Housing Finance Ltd., controlled by Blackstone 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.
Blackstone lines up three IPO exits from India in 2021
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Blackstone is in the process of taking three portfolio firms public, including a US listing for an IT services firm.bloomberg
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Blackstone Group has lined up a robust pipeline of exits from its India portfolio this year. The New York-based alternative assets manager is in the process of taking three portfolio companies public, including a US listing for an IT services company, said two people familiar with the development.
In all, Blackstone is preparing for at least four liquidity events during the year.
IPO Alert: Blackstone to take public three companies from India portfolio
Global investor group Blackstone is planning to launch three IPOs from its India portfolio this year, reports said. Among its prospective IPOs is Aadhar Housing Finance Ltd which is likely to file a draft prospectus as soon as this month, a Bloomberg report said.
Aadhar is one of Indiaâs largest mortgage providers to low-income earners. The company, controlled by Blackstone Group Inc, is planning to raise as much as $1 billion (Rs 7,000 - Rs 7,500 crore) from the share sale.
Other IPO plans of Blackstone include a US listing for an IT services company, Mint reported.
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