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Aadhar Housing Finance, which is an HFC focused on the low-income housing segment, has received final observations from SEBI for its proposed IPO.
AHFL serves economically weaker and low-to-middle income customers, who require small ticket mortgage loans of less than ₹15 lakh. The average ticket size of loans are ₹9 lakh with an average loan-to-value of 57.6 per cent and 58 per cent, as of September, 2022 and September, 2023, respectively.
Aadhar Housing Finance Limited had the highest AUM and net worth among the analysed peers in six months ended last September, according to Crisil.
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. It has a network of 471 branches including 91 sales offices.
Book Running Lead Managers to the IPO includes ICICI Securities, Citigroup Global Markets India, Kotak Mahindra Capital, Nomura Financial Advisory and Securities and SBI Capital Markets.
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