AADHARHFC

Feb 6 (Reuters) - Aadhar Housing Finance Ltd AADA.NS:

• DEC-QUARTER CONSOL PAT 2.39 BILLION RUPEES

• DEC-QUARTER CONSOL INTEREST INCOME 7.14 BILLION RUPEES

Source text: [ID:]

Further company coverage: AADA.NS

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Jan 17 (Reuters) - Aadhar Housing Finance Ltd AADA.NS:

• TO CONSIDER TO REVALIDATE 20 BILLION RUPEES LIMIT FOR NCD ISSUANCE

Source text: ID:nBSE2xGlDj

Further company coverage: AADA.NS

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Nov 12 (Reuters) - Aadhar Housing Finance Ltd AADA.NS:

• AADHAR HOUSING FINANCE SEPT-QUARTER CONSOL PAT 2.28 BILLION RUPEES

• AADHAR HOUSING FINANCE SEPT-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 7.64 BILLION RUPEES

Further company coverage: AADA.NS

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Nov 6 (Reuters) - Aadhar Housing Finance Ltd AADA.NS:

• SEPT-QUARTER CONSOL PAT 2.28 BILLION RUPEES

• SEPT-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 7.64 BILLION RUPEES

Source text: [ID:]

Further company coverage: AADA.NS

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Updates with Swiggy's target valuation, subscriptions opening next week; Hyundai India's bid response, lacklustre debut

Oct 30 (Reuters) - Companies are rushing to go public in India this year as the stock market booms, with Swiggy's SWIG.NS $1.35 billion initial public offering opening up for subscriptions next week.

About 270 companies have raised over $12.57 billion through IPOs in India so far this year, well above the $7.4 billion raised in all of 2023, LSEG data shows.

These are the country's biggest IPOs of 2024:

* HYUNDAI MOTOR INDIA

Hyundai Motor India's $3.3 billion IPO, the first by a carmaker in India in two decades, received bids totalling $5.5 billion. However, concerns around lofty valuations and an auto industry slowdown led the company to log a lacklustre debut.

* SWIGGY

SoftBank-backed food delivery firm Swiggy is eyeing an $11.3 billion valuation on its $1.35 billion IPO, after cutting it down twice by a combined 25%, citing recent volatility in the Indian equity markets.

* NTPC GREEN

State-run NTPC's NTPC.NS green energy arm filed draft papers for a $1.2 billion IPO in September.

* BAJAJ HOUSING FINANCE

Shares of India's most valuable home loan financier have more than doubled after a blockbuster response to its $782 million IPO in September.

* OLA ELECTRIC

The electric scooter maker's $734-million IPO in August drew investor interest from the likes of Fidelity and Nomura.

* SCHLOSS BANGALORE

Brookfield-backed Leela hotels owner Schloss Bangalore filed for a $599 million IPO in September.

* BHARTI HEXACOM

Telecom operator Bharti Hexacom's BHAX.NS $511-million IPO was launched in April, attracting bids worth more than $8 billion.

* AADHAR HOUSING FINANCE

Mortgage lender Aadhar Housing Finance's AADA.NS IPO in May raised $358 million.

* GO DIGIT GENERAL INSURANCE

Insurer Go Digit GODG.NS launched its share sale in May, raising $312 million.

(Reporting by Hritam Mukherjee, Nandan Mandayam, Dimpal Gulwani in Bengaluru; Editing by Aditya Kalra, Mark Potter and Lincoln Feast.)

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Adds latest details on IPOs of Hyundai Motor India, Bajaj Housing Finance, Swiggy, Schloss, NTPC Green; changes media packaging code

Oct 8 (Reuters) - Companies are rushing to go public in India this year as the stock market booms, with Hyundai Motor's 005380.KS Indian unit gearing up to launch the country's biggest initial public offering (IPO) of 2024 so far next week.

About 260 companies have raised over $9 billion through IPOs in India so far this year, more than double the amount raised in the same period last year, LSEG data shows.

These are the country's biggest IPOs of 2024:

* HYUNDAI MOTOR INDIA

Hyundai Motor India's $3 billion IPO, the first by a carmaker in India in two decades, opens for subscription next week. Its Korean parent is selling a 17.5% stake in the offering as the company targets a valuation of about $19 billion.

* SWIGGY

SoftBank-backed food delivery firm Swiggy in September filed papers for an IPO, which a source said could be worth $1.25 billion.

* NTPC GREEN

State-run NTPC's NTPC.NS green energy arm filed draft papers for a $1.2 billion IPO in September.

* BAJAJ HOUSING FINANCE

Shares of India's most valuable home loan financier have more than doubled after a blockbuster response to its $782 million IPO in September.

* OLA ELECTRIC

The electric scooter maker's $734-million IPO in August drew investor interest from the likes of Fidelity and Nomura.

* SCHLOSS BANGALORE

Brookfield-backed Leela hotels owner Schloss Bangalore filed for a $599 million IPO in September.

* BHARTI HEXACOM

Telecom operator Bharti Hexacom's BHAX.NS $511-million IPO was launched in April, attracting bids worth more than $8 billion.

* AADHAR HOUSING FINANCE

Mortgage lender Aadhar Housing Finance's AADA.NS IPO in May raised $358 million.

* GO DIGIT GENERAL INSURANCE

Insurer Go Digit GODG.NS launched its share sale in May, raising $312 million.

(Reporting by Nandan Mandayam, Dimpal Gulwani in Bengaluru; Editing by Aditya Kalra and Mark Potter)

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** Aadhar Housing Finance AADA.NS rise 4.6% to record-high of 485.50 rupees

** JM Financial starts with "buy" and 600 rupees target price, 29% upside to last close

** JM notes AADA has longest track record in affordable housing space, with total AUM of 217 bln rupees ($2.60 bln)

** Expects AADA's deeper geographical presence and Indian govt push on housing to aid AUM growth at 20% CAGR over FY24-26

** Says AADA's focus on low income group and geographical presence results in strong productivity metrics

** Stock up ~47% since listing in mid-May

** That's more than peers Aavas Financiers AVAS.NS and Can Fin Homes CNFH.NS YTD gains of ~23% and ~14%, respectively

(Reporting by Dimpal Gulwani in Bengaluru)

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By Dimpal Gulwani and Bharath Rajeswaran

BENGALURU, Sept 11 (Reuters) - India's Bajaj Housing Finance BAJO.NS attracted bids worth about $38.60 billion, or nearly 64 times the shares on offer, making it the most sought-after major public listing this year in a red-hot IPO market.

The interest in the company's public offer -- the most this year among mainboard IPOs worth more than $500 million -- was due to the lender's prospects in a booming home loan market and came during the busiest week for Indian IPOs in 2024.

Bajaj Housing Finance, a unit of non-bank lender Bajaj Finance BJFN.NS, will become India's largest listed home loan financier, with its $782 million IPO valuing the company at $7 billion.

Analysts attribute the rush for the lender's offering to strong demand for loans for luxury homes, attractive IPO pricing and confidence in the pedigree of the nearly 100-year-old Bajaj group, which also has auto and consumer goods businesses.

Bajaj Housing Finance is raising $424 million in the float by issuing new shares, while Bajaj Finance is selling shares worth $357 million. It set a price band of 66-70 rupees a share.

Analysts expect the interest to sustain after the company lists on the exchange on Monday, Sept. 16.

"Given the demand of the IPO and the oversubscription levels, the stock should see a substantial premium and list at 100 rupees," said Asutosh Mishra, research head at Ashika Stock Broking.

The shares set aside for large institutions, including foreign institutional investors, banks and mutual funds, were oversubscribed by 209 times, while retail investors bid for about seven times the shares on offer.

About 200 companies have raised more than $7 billion this year, more than double the amount raised during the same period last year, in a booming stock market .NSEI that has hit record highs more than 50 times this year, LSEG data showed.

The last IPO from a home loan financier was by Aadhar Housing Finance AADA.NS in May and was oversubscribed by about 26 times.

($1 = 83.9620 Indian rupees)

(Reporting by Dimpal Gulwani and Bharath Rajeswaran in Bengaluru; Editing by Savio D'Souza)

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** Shares of Aadhar Housing Finance AADA.NS rise 4% to 405 rupees

** Kotak Institutional Equities initiates coverage on affordable housing finance co with "BUY" rating and fair value of 550 rupees per share (41% upside)

** Expects co's expansion strategy to drive a 21% annual growth in assets under management from FY2024-27, with low credit costs

** Stable margins and improving leverage will accelerate return on equity back to high-teens - Kotak

** Avg rating of analysts covering the stock at "Buy"; median PT is at 550 rupees - LSEG data

** Stock has risen 28% since listing in May 2024

(Reporting by Yagnoseni Das in Bengaluru)

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Adds share movement in paragraph 5 after Reuters report

By Manoj Kumar

NEW DELHI, July 3 (Reuters) - India plans to increase state subsidies on rural housing in the upcoming federal budget by as much as 50% from the previous year to more than $6.5 billion, after setbacks for the prime minister's party in elections, two government sources said.

The planned hike in housing subsidies is part of a broader government initiative to boost spending on rural infrastructure including village roads and a jobs programme to help millions of young people stuck in the agriculture sector amid limited manufacturing jobs.

If approved, it would mark the largest annual increase in federal spending on the rural housing programme since its inception in 2016.

"The government is worried over widespread rural economic distress, driven by higher food inflation and sluggish growth in farmers' incomes," said one of the government sources with knowledge of budget discussions.

Shares of Housing and Urban Development Corp HUDC.NS rose as much as 9% after the Reuters report, while Aadhar Housing Finance AADA.NS and GIC Housing Finance GICH.NS rose around 4.5%.

Prime Minister Narendra Modi's Bharatiya Janata Party (BJP) is having to rely on allies to run the government for the first time in a decade, after the opposition did much better than expected in a bitterly fought national election that ended last month.

Under the PM Awas Yojna(Rural) housing scheme, the government aims to facilitate construction of an additional 20 million houses over the next few years, after providing aid for more than 26 million homes for poor households over the past eight years.

Finance Minister Nirmala Sitharaman is expected to announce details of plan during the budget presentation later this month.

"We expect a substantial increase in allocations for several rural schemes this year, including housing, roads and jobs programme," said the second government source, noting federal subsidies for rural housing could exceed 550 billion rupees ($6.58 billion), up from 320 billion rupees last fiscal year.

He said state spending on the rural jobs programme was expected to increase substantially from an earlier estimate of 860 billion rupees, but the government may seek parliament approval for this additional spending later, not as part of the budget.

He said a separate proposal for increasing spending on village roads was also under consideration, from earlier estimates of 120 billion rupees in the current fiscal year.

Both sources spoke on the condition of anonymity as they were not authorised to discuss budget proposals with the media.

During pre-budget consultations, economists and industry leaders urged the government to ramp up rural spending to stimulate consumer demand, noting that private consumption was growing at half the pace of nearly 8% annual economic growth.

The sources said to build 20 million houses for the poor in the rural areas, the federal and state governments are expected to allocate up to 4 trillion ($47.89 billion) over the next few years, with the federal government contributing around 2.63 trillion rupees.

A finance ministry spokeswomen didn't comment when asked about spending plans.

Last month, shortly after assuming office, Modi's cabinet announced plans to assist in the construction of 30 million houses in rural and urban areas, without disclosing financial details.

The Ministry of Rural Development has proposed increasing state subsidies to about 200,000 rupees ($2,395) per housing unit, up from 120,000 rupees previously, citing rising costs of raw materials, the second official said.

($1 = 83.5315 Indian rupees)

(Reporting by Manoj Kumar;Additional reporting by Aftab Ahmed; Editing by Kim Coghill)

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** Shares of Aadhar Housing Finance AADA.NS up 5.8% in trading debut vs IPO price of 315 rupees

** AADA, affordable housing finance co, opens flat at 315 rupees; stock recovers after briefly trading below IPO price

** At current levels, AADA valued at 142.14 bln rupees ($1.70 bln)

** "Debut fell short of pre-listing expectations of 15-20% premium" - Shivani Nyati, Head of Wealth at Swastika Investmart

** Co raised 30 bln rupees in IPO of fresh share issue worth 10 bln rupees, offer for sale of shares worth 20 bln rupees - prospectus

** IPO oversubscribed 25.49x last week - exchange data

($1 = 83.5000 Indian rupees)

(Reporting by Rama Venkat in Bengaluru)

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Feb 8 (Reuters) - Aadhar Housing Finance Ltd :: *AADHAR HOUSING FINANCE DEC-QUARTER PAT 2.03 BILLION RUPEES VERSUS PROFIT 1.59 BILLION RUPEES *AADHAR HOUSING FINANCE DEC-QUARTER TOTAL REVENUE FROM OPERATIONS 6.59 BILLION RUPEES VERSUS 5.26 BILLION RUPEES ((Reuters Investor Briefs; email: [email protected])) Source Date/Time = 08-FEB-202412:32:17.353 GMT

Feb 8 (Reuters) - Aadhar Housing Finance Ltd AADA.BO:

• AADHAR HOUSING FINANCE DEC-QUARTER PAT 2.03 BILLION RUPEES VERSUS PROFIT 1.59 BILLION RUPEES

• AADHAR HOUSING FINANCE DEC-QUARTER TOTAL REVENUE FROM OPERATIONS 6.59 BILLION RUPEES VERSUS 5.26 BILLION RUPEES

Source text for Eikon: ID:nBSE6klvqP

Further company coverage: AADA.BO

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Feb 2 (Reuters) -

• INDIA'S AADHAR HOUSING FINANCE RE-FILES FOR IPO - DRAFT PROSPECTUS

• AADHAR HOUSING FINANCE IPO: FRESH ISSUE OF SHARES WORTH 10 BILLION RUPEES, OFFER FOR SALE OF SHARES WORTH 40 BILLION RUPEES

• AADHAR HOUSING FINANCE IPO: ICICI SECURITIES, KOTAK MAHINDRA, CITIGROUP, NOMURA, SBI CAPITAL MARKETS BOOK RUNNING LEAD MANAGERS

• AADHAR HOUSING FINANCE IPO: TO UTILIZE NET PROCEEDS FROM IPO TO MEET FUTURE CAPITAL REQUIREMENTS

Further company coverage: AADA.BO

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Repeats to additional subscribers with no changes to the text

By M. Sriram

MUMBAI, Jan 30 (Reuters) - Blackstone-owned Indian home loans provider Aadhar Housing Finance is targeting a $600 million-650 million initial public offering (IPO) at a valuation of up to $3 billion, two people with direct knowledge said on Tuesday.

Private equity group Blackstone BX.N acquired Aadhar for about $300 million in 2019 as it bet on growing demand for affordable housing and financing in India.

The IPO attempt is Aadhar's second shot at a listing after a $1 billion IPO plan in 2022 was called off amid market volatility that followed the Russia-Ukraine war.

Aadhar plans to file its IPO papers with India's market regulator within the next two weeks, both sources said.

A deal would be the latest example of private equity investors looking to sell parts of their companies amid record stock markets in India - a rare bright spot for global investors.

The country is currently seeing record listing plans, driven by expectations of political stability and a fast-growing economy. Its stock market recently overtook that of Hong Kong to become the world's fourth biggest, and benchmark index Sensex is trading near record highs.

"Blackstone wants to capitalise on these market conditions and sell a part of its stake. Timing is key to gradually sell down," said one of the two sources, who declined to be named as the IPO plan is still confidential.

Aadhar has appointed investment banks Citi C.N, Nomura 8604.T and India's Kotak and ICICI as advisors for its latest IPO filing, with a listing in Mumbai planned by May, said the sources.

Blackstone, Nomura and Citi declined to comment. Kotak, ICICI and Aadhar did not respond to queries seeking comments.

Aadhar offers housing loans of up to $18,000 to people with monthly incomes as low as $75 in a country where rising real estate prices have made home ownership increasingly difficult in major cities.

Most of its loans are to "economically weaker sections and low income groups", the company says.

While mortgage loans in India are dominated by state-owned and private banks, newer private equity-owned firms are trying to gain market share. Investors such as Warburg Pincus and Morgan Stanley have bet on the space in recent years.

Aadhar says it manages $2 billion worth of loans, with 479 branches in 20 Indian states. In 2022-23 its net profit grew 22% to $65 million, while its total income grew 18% to $245 million, its annual report showed.

(Reporting by M. Sriram; Editing by Aditya Kalra, Louise Heavens and Jan Harvey)

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MUMBAI, May 18 (Reuters) - India's Aadhar Housing Finance plans to raise at least 1.45 billion rupees ($17.7 million) through the sale of bonds maturing in three years, three merchant bankers said on Thursday.

The company will pay an annual coupon of 8.50% to the investors of this issue and has invited commitment bids from bankers and investors on Monday, they added.

The notes are rated AA by India Ratings and the issue will close for subscription later next week.

The issue has a greenshoe option to retain an additional 1.3 billion rupees.

In February, the company raised 1.15 billion rupees via bonds maturing in four years at an annual coupon of 8.30%.

($1 = 81.7800 Indian rupees)

(Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by Varun H K)

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