Reviewing Aadhar Housing Finance IPO on Day 3: GMP, subscription status, and whether to apply or not.

The Aadhar Housing Finance IPO has been making waves in the Indian primary market, with the public issue set to close today evening. Investors have just one day left to apply for the IPO, which has been priced in the range of ₹300 to ₹315 per equity share. The book build issue includes a mix of fresh shares and Offer For Sale (OFS), with the company aiming to raise ₹1000 crore from fresh shares and ₹2000 crore from OFS.

Market observers have noted a surge in the grey market premium (GMP) for Aadhar Housing Finance shares, with the GMP currently standing at ₹70, a significant increase from the previous day. This rise in GMP, despite weak trends on Dalal Street, reflects the positive sentiments surrounding the IPO and anticipates a strong debut on the listing date.

By the end of day 3 of bidding, the public issue was oversubscribed 14.08 times, with the retail portion booked 2.11 times, the NII portion 13.90 times, and the QIB segment 35.28 times. Financial institution BP Equities has given a ‘subscribe’ rating to the IPO, citing a fair valuation compared to its peers.

Reputable financial firms like Aditya Birla Ltd, Ashika Research, Canara Bank Securities, Nirmal Bang, and SMIFS have also recommended subscribing to the book build issue. This collective endorsement, along with positive reviews and strong subscription status, bodes well for the potential success of the Aadhar Housing Finance IPO.