The IPO of Aptus Value Housing will consist of a fresh issue of Rs 500 crore and an offer for sale (OFS) by existing shareholders and promoters of the company of upto 6,45,90,695 equity shares.
Existing stakeholder participating in OFS include promoter Padma Anandan, Aravali Investment Holdings, JIH II LLC, GHIOF Mauritius, Madison India Opportunities IV, KM Mohandass HUF, R Umasuthan and Saurabh Vijay Bhat.
M Anandan, Padma Anandan and Westbridge Crossover Fund LLC are the promoters of the Chennai-based housing finance company.
Investors can make a bid for a minimum of 42 equity shares and in multiples of 42 shares thereafter. The issue closes on August 12 for subscription.
The company will utilise the net proceeds from the issue towards augmenting the capital base of the company and meet future growth requirements.
50 per cent portion of the net issue is reserved for qualified institutional buyers (QIBs), whereas 15 per cent stake will be allotted to non-institutional investors (NIIs). The remaining 35 per cent of the issue size is reserved for retail investors.
Aptus Value Housing Finance is a retail-focussed housing finance company, primarily serving low and middle-income self-employed customers in the rural and semi-urban markets of India.
As of December 31, 2020, the AUM of the company consisted of 72.5 per cent loans given to self-employed individuals. Salaried individuals comprised remaining 27.5 per cent loans. The company claims to have a pristine asset quality with very low NPA.
ICICI Securities, Citigroup Global Markets India, Edelweiss Financial Services and Kotak Mahindra Capital Company have been appointed to manage the issue.
