IPO Alert: Blackstone to take public three companies from India portfolio

Global investor group Blackstone is planning to launch three IPOs from its India portfolio this year, reports said. Among its prospective IPOs is Aadhar Housing Finance Ltd which is likely to file a draft prospectus as soon as this month, a Bloomberg report said.

Aadhar is one of India’s largest mortgage providers to low-income earners. The company, controlled by Blackstone Group Inc, is planning to raise as much as $1 billion (Rs 7,000 - Rs 7,500 crore) from the share sale.

Other IPO plans of Blackstone include a US listing for an IT services company, Mint reported.

TaskUS, a Texas-based company with extensive operations in Bengaluru, is expected to list in the US later this year, the report said.

The third company to be listed is Sona Comstar. Its IPO is expected to be sized at Rs 3,500- Rs 4,000 crore, the daily reported.

Aadhar Housing Finance Ltd

BCP TOPCO VII PTE. LTD. (a Blackstone Group Company) is the holding company of Aadhar, described as one of the largest affordable housing finance companies in India servicing the home financing needs of the low income sections of the society.

Established in 2010, the company has 294 branches across the nation.

The erstwhile Aadhar Housing Finance Limited was incorporated in 2010 and later amalgamated with DHFL Vysya w.e.f 20th November, 2017 and subsequently name changed to Aadhar Housing Finance Limited. Formed With the merger of DHFL Vysya and Aadhar Housing Finance, Aadhar is one of the few players which has a pan-India presence.

The company provides financing solutions to all segments of customers whose monthly income is between Rs 5000 to Rs 50000 and above.

TaskUS

TaskUS, headquartered in San Antonio, Texas, offers outsourced services to companies across sectors such as entertainment-gaming, fintech and retail-ecommerce. Most of its operations is based in Bengaluru servings its customers in the US.

Sona Comstar

Sona Comstar is a company held by Sona Group and Blackstone Group and has a revenue of Rs 1,500 crore. It is an Indian origin, global automotive systems & components manufacturer with 9 plants spread across India, China, Mexico, and the USA.

The company enjoys the distinction of being one of the world’s largest manufacturer of precision forged gears for differentials with a global market share of 6% as well as the producer of the world’s lightest starter motor, according to its website. In addition to differential gears, the company produces BSG solutions for hybrid cars, traction motors for EV applications, starter motors, alternators, transmission gears, axle stubs and differential assemblies for electric & combustion engine vehicles.

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