Blackstone's Aadhar Housing Finance aims for $600-650 million IPO

Aadhar Housing Finance IPO: Private equity giant Blackstone's subsidiary, Aadhar Housing Finance, is reportedly gearing up for an initial public offering (IPO) in India, targeting a substantial $600-650 million, news agency Reuters reported, quoting sources familiar with the matter. The valuation for the IPO is anticipated to reach up to $3 billion.

Blackstone acquired Aadhar Housing Finance in 2019 for approximately $210 million, capitalising on the rising demand for affordable housing and financial solutions in the Indian market. This move comes as Aadhar Housing Finance renews its IPO aspirations, marking its second attempt after a $1 billion IPO plan in 2022 was shelved due to market uncertainties following the Russia-Ukraine war.

The potential IPO filing is expected to be initiated within the coming weeks, aligning with the prevailing surge in stock market activities and IPO filings in India. Aadhar Housing Finance aims to conclude its IPO by the end of 2024, presenting an opportunity for investors to tap into India's housing finance sector.

While Blackstone declined to comment on the matter, Aadhar Housing Finance has not responded to queries from Reuters as of yet. Aadhar plans to file its IPO papers with the Securities and Exchange Board of India (Sebi) within the next two weeks, both sources said.

(With Reuters inputs.)