Global law firm White & Case LLP recently provided legal counsel for the initial public offering (IPO) of Aadhar Housing Finance Limited, a prominent housing finance company that focuses on the low-income housing market in India.
Rahul Guptan, a partner at White & Case who co-led the Firm’s deal team, expressed his satisfaction with the successful IPO: “White & Case teams in Singapore, Hong Kong, New York and London successfully advised on a notable IPO in the Indian market, which marks a significant milestone for Aadhar Housing Finance. This transaction was complex and executed within very tight timelines across multiple jurisdictions, demonstrating our global team’s expertise and commitment.”
Aadhar Housing Finance Limited is among the largest housing finance companies in India, with a dedicated focus on supporting the low-income sector. The company has a presence in 20 states and union territories, and it offers customised credit solutions to its clients, holding the highest Assets Under Management and net worth among its peers.
The promoter of Aadhar Housing Finance Limited, BCP Topco VII Pte. Ltd., is an affiliate of funds managed by Blackstone Group Inc. The book running lead managers for the IPO were Citigroup Global Markets India Private Limited, ICICI Securities Limited, Kotak Mahindra Capital Company Limited, Nomura Financial Advisory and Securities (India) Private Limited, and SBI Capital Markets Limited.
The White & Case team that provided legal advice for the transaction was led by partners Rahul Guptan (London) and Kaya Proudian (Singapore), with support from partners Jim Fogarty, Elodie Gal, Steven Gee, and Edward So (all New York), and associates Ji Yang Lim, Rachna Talati, Stephanie Zhao (all Singapore), Hilda Leung (Hong Kong), and Daniel Park (New York).
This successful IPO marks an important achievement for Aadhar Housing Finance Limited and reflects the company’s dedication to catering to the housing finance needs of low-income individuals in India.
Sources:
White & Case LLP (2023). White & Case advises on the IPO of Aadhar Housing Finance Limited. Retrieved from https://www.whitecase.com/news/white-case-advises-ipo-aadhar-housing-finance-limited