Aadhar Housing Finance Limited IPO

Gaurav Seth
20 Likes | 777 days ago



isVerifiedExpertAuthor is a Zfunds Verified Expert
Gaurav Seth

Incorporated as Vysya Bank Housing Finance Limited in 1990, Aadhar housing finance is the largest housing finance company in terms of the AUM. It has the largest customer base as of 31st March 2020 and has the highest disbursement for the FY ended 31 March 2020. It offers a wide range of mortgage-related loan products which include loans for home improvement & extension loans, residential property purchase & construction, and loans for commercial property construction & acquisition.

Aadhar housing finance bank has 292 branches as of 30th September 2020 in 20 states and UTs which are operating in approx 12,000 locations across India. The branch network is widely spread with no state contributing more than 16.2% of the gross AUM. The company believes that the diversified reach is good to meet the needs of target customers across the urban, semi-urban, and rural areas. 

As of 30th September 2020, it has a total of 2,088 employees, and its 100% owned subsidiary has 1,326 employees.

As of 30th September 2020, the average ticket size of the loans was ₹8.5 lakhs along with the average loan value of 56.73%. The gross AUM comprised of loans to self-employed and salaried customers was 35.17% and 64.83% respectively.

The financial performance of the company has remained consistent & resilient through various events in the Indian economy. The Gross AUM has increased to ₹11,431.66 crores in FY 2020 from ₹10,015.75 crores in FY2019 and ₹7,965.92 Crores in FY2018.

The promoters of the company are BCP Asia (SG) Holdings Co. Pte. Ltd. and Singapore VII Holding Co. Pte. Ltd.

Strengths of the company:

  • Largest affordable housing company
  • Geographical penetration & sales channels with an extensive branch network.
  • Robust processes for monitoring asset quality, underwriting, and collections.
  • Has diversified & cost-effective long-term financing.
  • Social objectives one of the core components of its business model
  • Experience and professional management team.

Purpose of the IPO

  • To increase their capital base
  • To meet the general corporate purposes.

Financial Performance of the Company

 For the six-month period ended 30th September 2020FY 2020FY 2019FY 2018
Total Revenue748.351,338.461,265.63815.12
Total Expenses549.581,157.551,016.85645.29
Profit After Tax156.37189.38161.88114.21
Total Assets12,830.3812,366.439,480.027,801.51

*All the values are in crores and as per RHP.

Valuation of the Company

 For the six-month period ended 30th September 2020FY 2020FY 2019FY 2018
Basic Earnings per Share (EPS)3.965.866.445.32
Diluted Earnings per Share (EPS)3.855.836.395.32
Return on Net Worth (%)6.24%8.07%18.85%15.91%
Net Assets Value per Equity share63.5059.4834.1528.54

*As per RHP. 

IPO details:

Face Value₹10 per equity share
Market LotShares
Minimum Order QuantityShares
Price Band₹- ₹ per equity share
Issue typeBook Built Issue IPO
Issue Size₹7,300 Crores
Fresh Issue₹1,500 Crores
Offer for Sale₹5,800 Crores
Listing NSE, BSE

Important IPO dates:

Open DateApril 2021
Close DateApril 2021
Basis of Allotment DateApril 2021
Initiation of RefundsApril 2021
The credit of shares to Demat AccountApril 2021
Listing DateApril 2021

Allocation Quota:

Qualified Institutional Buyers (QIBs)Not more than 50%
Non- Institutional Buyers (NIIs)Not less than 15%
Retail InvestorsNot less than 35%

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