Blackstone-backed Aadhar Housing Finance files papers for $1 billion IPO

Aadhar Housing Finance will use proceeds from the fresh issue to boost its capital base.

Aadhar Housing Finance, backed by private equity firm Blackstone Group, has filed for an initial public offering (IPO) of up to Rs 73 billion ($999.68 million), draft papers submitted to the country’s market regulator, Securities and Exchange Board of India, showed on Tuesday.
 
The offering will comprise a fresh issue of shares worth up to Rs 15 billion by the housing financier and shares worth up to Rs 58 billion by BCP Topco VII, an entity managed by Blackstone that owns 98.72 per cent in the company.
 
The filing follows blockbuster IPOs by Burger King India and Mrs