Cyril Amarchand Mangaldas Advised Aadhar Housing Finance Ltd. In ₹30,000 Million IPO
Cyril Amarchand Mangaldas Advised Aadhar Housing Finance Ltd. In ₹30,000 Million IPO
Cyril Amarchand Mangaldas (CAM) advised Aadhar Housing Finance Limited (“the Company”) for its Initial Public Offering (IPO) of equity shares.
The IPO involved shares with a face value of ₹ 10 each, offered at a price of ₹ 315 per equity share, totaling ₹ 30,000 million.
This included a fresh issuance of 31,763,535 equity shares worth ₹ 10,000 million by the Company (“Fresh Issue”), and an offer for sale of 63,492,063 equity shares aggregating to ₹ 20,000 million by BCP Topco VII Pte. Ltd. (“Promoter Selling Shareholder”, and such equity shares offered by the promoter selling shareholder, the “Offered Shares”) (“Offer for Sale” and together with the fresh issue, the “Offer”).
The Company specializes in retail-focused housing finance, particularly in the low-income housing segment, catering to economically weaker and low-to-middle-income customers in need of small-ticket mortgage loans. CAM provided comprehensive advisory services to the Company, covering regulatory compliance, documentation preparation, and overseeing the seamless execution of the IPO process.
The Capital Markets team of Cyril Amarchand Mangaldas advised on the matter. The transaction team was led by Yash Ashar, Partner & Head Capital Markets; Devaki Mankad, Partner; with support from Indira Satish, Associate; Hitesh Nagpal, Associate; and Tanishq Mohta, Associate.
Other parties and advisors involved in the transaction were ICICI Securities Limited, Kotak Mahindra Capital Company Limited, Nomura Financial Advisory and Securities (India) Private Limited, and SBI Capital Markets Limited, who served as book running lead managers for Aadhar Housing Finance Limited.
White & Case acted as international legal counsel for the book running lead managers, while Allen & Gledhill LLP served as international legal counsel for the promoter selling shareholder.
The transaction was signed on January 9, 2024, and concluded on May 15, 2024.
