MUMBAI – 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 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)
