JM Financial has announced an open offer to the public shareholders of Aadhar Housing Finance to acquire up to 11,35,25,761 equity shares, representing 25.82% of the expanded voting share capital, at a price of ₹469.97 per share plus applicable interest. This offer follows the share purchase agreement between BCP Asia II Holdco VII Pte. Ltd. and BCP Topco VII Pte. Ltd. and is in compliance with SEBI regulations.
Open Offer Details
JM Financial Limited, acting as the manager, has announced an open offer on January 24, 2026, for the acquisition of up to 11,35,25,761 fully paid-up equity shares of Aadhar Housing Finance Limited. The offer price is set at ₹469.97 per equity share, along with applicable interest, representing 25.82% of the expanded voting share capital.
Offer Justification
This open offer is a mandatory requirement following BCP Asia II Holdco VII Pte. Ltd.’s agreement to acquire shares exceeding 25% of Aadhar Housing Finance and is made under Regulations 3(1) and 4 of the SEBI (SAST) Regulations. The move facilitates a change in control, with the Acquirer set to become the promoter. The existing promoter, BCP Topco VII Pte. Ltd., will be reclassified as a public shareholder.
Revised Schedule
The tendering period will commence on February 2, 2026, and close on February 13, 2026. Shareholders as of the January 16, 2026, record date are eligible. JM Financial will manage the offer, and MUFG Intime India Private Limited is the registrar.
Statutory Approvals
The offer has received all required statutory approvals, including from the Competition Commission of India (CCI), the Reserve Bank of India (RBI), and the U.S. Securities and Exchange Commission (SEC). Shareholders should consult their tax advisors for implications related to this offer.
Source: BSE
