Asset Management Company Blackstone plans to give investors another chance to earn. Blackstone is planning to launch an IPO for Aadhar Housing Finance.
new Delhi. Asset Management Company Blackstone plans to give investors another chance to earn. Blackstone is planning to launch an IPO for Aadhar Housing Finance. This IPO is planned to be launched this year. The company has submitted draft red herring prospectus (DRHP) with SEBI. According to the money control news, Aadhaar Housing Finance Company is planning to launch an IPO of $ 1 billion, ie Rs 7300 crore.
According to sources, Money Control has received information that the company will issue shares through the fresh shares issue as well as the offer for sale. Let me tell you that in the month of January, 3 companies have brought their IPO so far and in the year 2020 too, investors had made bumper earnings through IPO.
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Sources told Money Control that the company will use the funds earned through the IPO to increase its capital base. Apart from this, operative expenses and interest will also be paid through this fund. In addition, planning will also be done in future for growth. However, no official information has been given by the company about this IPO.
If the IPO is approved by SEBI, then it will be the IPO of the Indian portfolio company. Let me tell you that this will be the IPO of the first portfolio company in the last 5 years, which has got the support of American private firm. The company has appointed Nomura, Citi and SBI Capital Markets and ICICI Securities as its investment bankers for the IPO.
>> About the company >> Earlier it was known as DHFL Vysya Housing Finance.
>> It was established in 1990.
>> The company used to provide mortgage loans to the middle class to take home.
>> In the year 2019, Blackstone bought 98.7 percent of Aadhaar Housing Finance from DHFL and Wadhawan Brothers for Rs 2200 crore.
>> In 2020, the company had a net profit of Rs 189 crore.
>> Its net profit in 2019 was Rs 162 crore.
>> The company has about 292 branches across the country.
>> The company operates in 12 states in 20 states.
