Blackstone's Aadhar Housing Finance targets $600 mln India IPO-sources

Aadhaar Ventures India

30/01/2024 12:00

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      Blackstone's Indian lender eyes IPO filing within
weeks-sources
    

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      Plans come amid stock market, IPO filings boom in India
    

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      Aadhar Housing Finance plans to list by end 2024-sources
    

  
    By M. Sriram
       MUMBAI, Jan 30 (Reuters) - Private equity group
Blackstone-owned Indian home loans provider, Aadhar Housing
Finance, is targeting a $600-650 million initial public offering
(IPO) at a valuation of up to  $3 billion, two people with
direct knowledge said on Tuesday.
    Blackstone  BX.N  acquired Aadhar for about $210 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.
    Blackstone declined to comment while Aadhar did not respond
to Reuters queries.
    Aadhar plans to file its IPO papers with India's market
regulator within the next two weeks, both sources said.
    
    

 (Reporting by M. Sriram; editing by Aditya Kalra and Louise
Heavens)
 ((Sriram.Mani@thomsonreuters.com;; Reuters Messaging: Twitter:
@followthemani))