As per sources privy to the development, Blackstone Group led Aadhar Housing will file draft prospectus for its IPO as soon as this month. From the share sale, the company is reportedly willing to raise $1 billion.
And the country's largest mortgage providers to low-income earners will launch its IPO as early as in the first half of this year. Established in the year 2010, this Mumbai based company has a vast presence across the South Asian country with 294 branches and provides financial inclusiveness to low income earners earning between $76 to $765, according to its website.
The company had about 114 billion rupees ($1.6 billion) of assets under management in the latest financial year, about 14% higher than the previous year, its annual report shows. In 2019, the majority stake in the company has been acquired by Blackstone and it infused a sum of Rs. 8 billion into the housing financier.