Admin Reporter- POOJA1

Jan 13 2021

Blackstone's Aadhar Housing Finance plans $1 billion IPO filing soon

Wednesday, 13 January 2021

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.

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