Cyril Amarchand Mangaldas (CAM) has played a pivotal role in guiding Aadhar Housing Finance Limited through its ambitious initial public offering (IPO), amounting to a substantial Rs. 30,000 million. This significant financial event marks a key milestone for the retail-focused housing finance company, which primarily serves low-income to middle-income customers with modest mortgage loan requirements.
The IPO, priced at Rs. 315 per equity share, involved a fresh issuance of 31,763,535 equity shares totaling Rs. 10,000 million, alongside an offer for sale of 63,492,063 equity shares by BCP Topco VII Pte. Ltd., the promoter selling shareholder, which amounted to Rs. 20,000 million. CAM’s comprehensive advisory role spanned regulatory compliance, meticulous documentation, and ensuring a seamless execution of the IPO process.
A dedicated Capital Markets team from Cyril Amarchand Mangaldas spearheaded the project, led by Yash Ashar, Partner & Head of Capital Markets, and supported by Partner Devaki Mankad, along with Associates Indira Satish, Hitesh Nagpal, and Tanishq Mohta. Their collective expertise ensured the IPO’s success.
The financial transaction saw collaboration with several other key players: ICICI Securities Limited, Kotak Mahindra Capital Company Limited, Nomura Financial Advisory and Securities (India) Private Limited, and SBI Capital Markets Limited served as book running lead managers. White & Case acted as international legal counsel for the book running lead managers, while Allen & Gledhill LLP provided international legal counsel for the promoter selling shareholder.
The transaction, initiated on January 9, 2024, reached its conclusion on May 15, 2024, marking a significant achievement for all parties involved and setting a solid foundation for Aadhar Housing Finance Limited’s future growth.
