Aadhar Housing Finance IPO Subscription Hits 25.49x in 2024

Key takeaway from the final day data

Aadhar Housing Finance Ltd’s main-board IPO closed on May 10, 2024 with a reported overall subscription of 25.49 times as of 5:00 pm. Demand was led by Qualified Institutional Buyers (QIBs), while retail participation was comparatively moderate. The issue was open from May 8, 2024 to May 10, 2024, and the shares were priced at ₹315 per share at the top end of the ₹300 to ₹315 price band.

The numbers in the published trackers vary slightly across sources. Alongside the 25.49x figure, another snapshot in the same dataset mentions 25.43x, and another section cites 26.76x total subscription as of May 10, 2024. Category-wise subscription ratios also appear in two slightly different sets. This article reports all figures exactly as they appear in the provided data.

IPO structure: size, shares, and components

The IPO is described as aggregating up to ₹3,000 crore. It comprises a fresh issue of ₹1,000 crore and an Offer for Sale (OFS) of ₹2,000 crore by BCP Topco VII Pte Ltd, described as a subsidiary of Blackstone Group Inc.

The equity share count is stated as 9,52,55,598 shares (face value ₹10). Another line in the dataset separately states that the IPO offers 95,238,096 shares. Both figures are close but not identical, and no reconciliation is provided in the source text.

Subscription status at close: category-wise demand

As of May 10, 2024, 5:00 pm, one table reports the following subscription levels.

• QIB: 72.78x
• NII: 16.5x
• Retail: 2.46x
• Employee: 6.52x
• Total: 25.49x

A separate section, also dated May 10, 2024, reports another category-wise set:

• QIB: 76.42x
• NII: 17.33x
• Retail: 2.58x
• Employee: 6.88x
• Total: 26.76x

Day-by-day subscription trend

The day-wise table shared in the dataset shows a sharp ramp-up on the final day, driven mainly by institutional bidding.

• Day 1 (08-05-2024): QIB 0.33x, RII 0.41x, NII 0.6x, Total 0.44x
• Day 2 (09-05-2024): QIB 2.05x, RII 0.94x, NII 1.94x, Total 1.48x
• Day 3 (10-05-2024): QIB 72.78x, RII 2.46x, NII 16.5x, Total 25.49x

Another narrative line states the IPO was subscribed 43% on the first day, 1.48 times on the second day, and 25.49 times on the final day, broadly consistent with the day-wise totals shown above.

Lot size, minimum application, and retail limits

The minimum order quantity is stated as 47 shares. At the upper price of ₹315, the minimum investment is listed as ₹14,100 for one lot.

Retail investors can apply for a minimum of 1 lot and a maximum of 13 lots. The maximum application size is shown as 13 lots or 611 shares, with an amount of ₹1,92,465.

Anchor book and allocation mix

The dataset states that Aadhar Housing Finance raised ₹898 crore from anchor investors. It also notes that 2,85,04,762 shares were allotted to anchor investors at ₹315 each, and that anchor investors accounted for 29.93%.

The share allocation across investor categories is provided in the text as follows (as shares offered and percentage).

Listing details and identifiers

The listing date is stated as May 15, 2024. The issue type is described as book built. The stock identifiers included are NSE: AADHARHFC and BSE: 544176.

A separate line in the dataset mentions the latest tentative grey market premium (GMP) as ₹70.

What happened on the first day of trade

A post-listing trading update in the dataset says Aadhar Housing Finance advanced as much as 9% on its first day of trade. The shares climbed to as high as ₹343.70 on Wednesday and closed at ₹329.45 in Mumbai. The IPO price is stated as ₹315.

Market impact: what the numbers say

The subscription pattern shows heavy institutional participation, with QIB demand far exceeding other categories in the final tally. Retail demand, reported at 2.46x in the close-of-bidding table, indicates participation but at a lower multiple than institutional segments.

The dataset also states the public offering attracted bids for 178.65 crore shares against about 7 crore shares available for purchase. Another day-one snapshot reports bids for 3,04,53,979 shares against 7,00,89,373 shares on offer, with overall subscription at 0.43 times at 17:00 IST on May 8, 2024.

Why this IPO drew attention

Two elements stand out in the provided text: the ₹3,000-crore size and the level of institutional oversubscription. The QIB book is reported at 72.78x in the main subscription table, indicating that a large share of demand arrived late in the process, as reflected in the day-wise jump from 2.05x on Day 2 to 72.78x on Day 3.

The post-listing move described in the dataset, including an intraday high of ₹343.70 and a close at ₹329.45, is consistent with the strong final-day bidding reflected in the overall subscription figures.

Summary and what to track next

Aadhar Housing Finance’s IPO closed on May 10, 2024, with reported overall subscription peaking at 25.49x in one close-of-day snapshot, alongside other reported totals of 25.43x and 26.76x in the same dataset. The issue was priced at ₹315, with a lot size of 47 shares and a stated listing date of May 15, 2024.

Investors tracking the stock after listing will likely continue to watch how trading levels compare with the issue price of ₹315 and the first-day range reported in the dataset, including the ₹343.70 high and ₹329.45 close.