Blackstone-owned Aadhar Housing Finance files draft papers for its $1b Indian listing

Aadhar Housing Finance Ltd, owned by private equity firm Blackstone, on Monday filed draft papers for a 7,300 crore initial public offering (IPO), the biggest in India’s primary market since the pandemic early last year.

The company will issue fresh shares worth 1,500 crore through the IPO, while Blackstone will sell existing shares worth 5,800 crore, Aadhar’s draft red herring prospectus showed. Proceeds from the sale of new shares will be used to increase the Tier I capital base to meet its future capital requirements. As of 30 September 2020, Aadhar Housing’s CRAR – Tier I capital was 45.87%.

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