New Delhi: The South-based home finance lender Aptus Value Housing Finance is all set to hit the Indian primary market on Tuesday. Over half of the company’s loan book comes from Tamil Nadu.
Aptus Value Housing Finance is a retail focused housing finance company (HFC) which is looking to raise about Rs 2,780 crore from the primary market. Here are key things you should know about the issue:
- When will Aptus Value Housing Finance IPO open for subscription?
Aptus Value Housing Finance IPO will open for subscription on Tuesday, August 10, and will close on Thursday, August 12. - What is the price band for the Aptus Value Housing Finance IPO?
The price band for Aptus Value Housing IPO has been fixed at Rs 346-353. - What is the lot size for the Aptus Value Housing Finance IPO?
Investors can subscribe to the initial public offering (IPO) by betting 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 price band. Retail investors can bid for a maximum of 13 lots. - What is the issue size of the Aptus Value Housing Finance IPO?
The company is eyeing to raise Rs 2,870.5 crore 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. - Which investors are offloading their stakes in the Aptus Value Housing Finance IPO?
Existing stakeholders participating in OFS include promoters Padma Anandan, Aravali Investment Holdings, JIH II LLC, GHIOF Mauritius, Madison India Opportunities IV, KM Mohandass HUF, R Umasuthan and Saurabh Vijay Bhat. - What is the quota reserved for retail investors in the Aptus Value Housing Finance IPO?
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). Retail investors will have 35 per cent reserved for them. - Why is Aptus Value Housing Finance raising funds via primary markets?
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. - When will the basis of allotment be finalised for the Aptus Value Housing Finance IPO?
The finalisation of the basis of allotment is likely by August 18 and the initialisation of refunds is likely by August 20. Meanwhile, credit of shares in the demat account is likely by August 23. - On what date will Aptus Value Housing Finance list?
Chennai-based Aptus Value Housing Finance India’s listing is likely by August 24. - Where could we check Aptus Value Housing Finance IPO allotment status?
Bidders can check subscription status on the online portal of KFin Technologies Private Limited, the registrar to the IPO. - Who are the leading book managers to the issue?
ICICI Securities, Citigroup Global Markets India, Edelweiss Financial Services, Kotak Mahindra Capital Company have been appointed to manage the issue. - What does Aptus Value Housing Finance do?
Aptus Value Housing Finance is a retail-focussed housing finance company, primarily serving low and middle-income self-employed customers in rural and semi-urban markets of India.As of December 31, 2020, the AUM of the company consists of 72.5 per cent loans given to self-employed individuals and salaried individuals constituted for remaining 27.5 per cent loans. The company claims to have a pristine asset quality with very low NPA. - Who are the listed peers of Aptus Value Housing Finance?
Some of the listed peers of Aptus Value Housing include Repco Home Finance, PNB Housing Finance, Aavas Financiers, HDFC, GIC Housing Finance, HUDCO, Indiabulls Housing, Can Fin Homes and Home First Finance Company, among others. - What is the valuation demanded by Aptus Value Housing Finance?
At the upper end of the price band, Aptus demands a price-book (P/B) multiple of over seven considering the equity after the IPO. Aavas and Home First trade at a P/B of 8.2 and 3.6 respectively, which makes Aptus’ valuation look to be in line.But the valuation band of the affordable housing lenders seems to be stretched amid euphoria in the market. A bear phase in the stock market may affect these counters significantly. - Where will the shares of Aptus Value Housing Finance be listed?
The shares of Aptus Value Housing Finance will be listed on both BSE and NSE.
