Aptus Value Housing Finance IPO To Open On August 10

• ByAyushi Ray     |    August 5, 2021

Aptus Value Housing Finance IPO to open on August 10 with a price band of Rs 346 – 353 per share. They have a target of raising Rs. 2,780-crore through their first initial public offering. Teh window will be open for only 2 days – from August 10 to August 12. The initial public offering (IPO) comprises fresh issue of equity shares aggregating to Rs 500 crore and an offer-for-sale of up to 64,590,695 equity shares by promoter and existing shareholders. At the upper end of the price band, the IPO is expected to fetch Rs 2,780 crore. The net proceeds from the fresh issue will be utilized towards augmenting the company’s tier-1 capital requirements. Aptus Value Housing Finance has a strong capital sponsorship from marquee investors like Westbridge, Malabar Investments, Sequoia Capital, Steadview Capital and Madison India.

Half of this share has been reserved for qualified institutional buyers (QIBs), 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors. Investors can bid for a minimum of 42 equity shares and in multiples of 42 equity shares thereafter. Since the inception of the company in 2010, the company has good asset quality with very low NPA (non-performing assets). The firm’s assets under management have grown at a CAGR of 34.54 per cent to Rs 4,067.76 crore during FY19-FY21. Loans to self-employed customers accounted for 72.05 per cent of the assets under management as of March 2021, while the balance 27.95 per cent accounted for salaried individuals. As of March 2021, the company had a network of 190 branches which are spread across Tamil Nadu, Puducherry, Andhra Pradesh, Karnataka and Telangana. After successfully growing its presence outside its home state, Tamil Nadu to other major markets in southern India, Aptus Value Housing Finance is now intending to expand its branch network in large housing markets in the states of Maharashtra, Odisha and Chhattisgarh.

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