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Aptus Value Housing Finance IPO: Opens today; Key Details investors should know
Aptus Value Housing Finance IPO
The Initial Public Offering (IPO) of the South-India based home finance lender Aptus Value Housing Finance’s initial public offering (IPO) will open for subscription today, i.e., on Tuesday, August 10, 2021. The issue will close on Thursday, August 12, 2021.
The Initial Public Offering (IPO) of the South-India based home finance lender Aptus Value Housing Finance's initial public offering (IPO) will open for subscription today, i.e., on Tuesday, August 10, 2021. The issue will close on Thursday, August 12, 2021.
The price band for the subscription of the offer has been fixed at Rs 346-353 per equity share and the retail investors can bid for a minimum of 42 shares or in multiples thereof. A single lot of the IPO is worth Rs 14,826 at the upper range of the price band. Retail investors can bid for a maximum of 13 lots.
A 50 per cent portion of the net issue is reserved for qualified institutional buyers (QIBs) whereas a 15 per cent stake will be allotted to non-institutional investors (NIIs). Retail investors will have 35 per cent reserved for them.
The company aims to raise Rs 2,870.5 crore at the upper price band from the initial stake sale. The issue comprises fresh issuance of shares, aggregating up to Rs 500 crore, and an offer for sale of up to Rs 2,280.05 crore by promoters and existing shareholders.
Aptus will utilise net proceeds from the fresh issue for augmenting its Tier-I capital requirements, while the offer for sale proceeds will go to the shareholders.
Besides, Aptus Value Housing Finance on Monday, August 9, 2021, has raised Rs 834 crore from anchor investors ahead of its initial share sale, which opens for public subscription by allocating 2.36 crore shares at Rs 353 per share to the anchor investors that include names like Small Cap World Fund, Nomura, WF Asian Fund, Copthall Mauritius Investment, Steadview Capital Mauritius, Elara India Opportunities Fund and Axis Mutual Fund among others.
Aptus Value Housing Finance is one of the largest Housing Finance Companies in South India (CRISIL Report). It is a retail-focused company serving low and middle-income self-employed customers in rural and semi-urban India. It has diversified its geographical presence, focused on achieving deeper penetration in the existing market.
