Aadhar Housing Finance stock makes D-Street debut on flat note

"Overall, Aadhar Housing Finance's strong and dominant market position in the low-income segment suggest a decent outlook. However, with the recent market volatility and the company's inherent challenges, should consider a long-term perspective and maintain a healthy risk appetite," said Shivani Nayti, Head of Wealth, .

The , which comprised fresh equity issue worth up to Rs 1,000 crore and offer for sale (OFS) of up to Rs 2,000 crore, was booked nearly 26 times at close.

The funds raised through the fresh issue would be used for general corporate purposes and to meet future capital requirements towards onward lending.

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Aadhar Housing Finance is one of the largest low-income housing finance companies in India servicing the home financing needs of the low income sections of the society. Aadhar endeavors to empower underserved millions to own their first homes.

The erstwhile Limited was incorporated in 2010 and later amalgamated with DHFL Vysya with effect from 20th November, 2017 and subsequently name changed to Aadhar Housing Finance. With the merger of DHFL Vysya and Aadhar Housing Finance, Aadhar is one of the few players which has a pan-India presence.

For the period ended December 2023, the company clocked revenue from operations of Rs 658.5 crore and posted a profit after tax of Rs 203.4 crore.

, , , Nomura Financial Advisory and Securities (India) and acted as the book running lead managers to the issue.

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