Monitoring Agency Report for the quarter ended 31st March 2025
AADHARHFC · price
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ICRA Limited, the Monitoring Agency, has confirmed no deviation in the use of IPO proceeds raised by Aadhar Housing Finance during its public issue in May 2024. The total IPO size was Rs. 3,000 crore, with ICRA monitoring gross proceeds of Rs. 1,000 crore (excluding the Offer for Sale portion). As of March 31, 2025, the company has utilized Rs. 994.34 crore out of Rs. 1,000 crore, leaving Rs. 5.66 crore unutilized, primarily from issue-related expenses. All three stated objectives — onward lending (Rs. 750 crore), general corporate purposes (Rs. 202.33 crore), and issue expenses (Rs. 47.67 crore) — are on schedule. The general corporate purposes amount was used to repay indebtedness in Q1FY25. About Rs. 17.07 crore is lying idle in the public offer account, of which Rs. 11.41 crore relates to the OFS portion.
This is a positive and routine disclosure for shareholders, confirming the company is using IPO funds exactly as promised in the offer document with no misuse or deviation. The near-complete deployment (over 99%) signals disciplined capital management and should reinforce investor confidence in governance.