Retail focused housing finance company, Aptus Value Housing Finance India Limited

 Retail focused housing finance company, Aptus Value Housing Finance India Limited raises Rs. 834 Crs from 21 Anchor Investors

Aptus Value Housing Finance India Limited (“Company”), one of the largest housing finance companies in South India in terms of asset under management and having the largest branch network in South India among the peer set, as of March 31, 2021 (Source: CRISIL Report), has raised Rs. 834 crs from 21 anchor investors. The company informed the bourses that it has allocated 2,36,26,500 shares at Rs. 353 per share on Monday, August 9, 2021 to anchor investors.

12 Foreign Portfolio Investors were allocated a total of 20,115,942 shares for approximately Rs. 710.1 crs. These included Capital Research, Genesis, Neuberger Berman, Nomura, Universities Superannuation Scheme (USS), Steadview, Ward Ferry, and Aberdeen.

 

9 domestic investors (including 3 Mutual Funds, 5 AIFs and 1 Life Insurance company) were allocated a total of 35,10,558 shares for approximately Rs.123.9 cr. These included Axis Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, IIFL Group and Premji.

 

Aptus Value Housing Finance Limited is one of the largest housing finance companies in south India in terms of AUM. The company offers home loans for purchase and self-construction of residential property, home improvement, extension loans, and small business loans, primarily to first time home buyers belonging to the low and middle income groups. As of 31^st March 2021, the company has a network of 190 branches catering to 58,069 active live accounts in Tamil Nadu (including the Union Territory of Puducherry), Andhra Pradesh, Karnataka, and Telangana.

ICICI Securities Limited, Citigroup Global Markets India Private Limited, Edelweiss Financial Services Limited and Kotak Mahindra Capital Company Limited are the BRLMs to the Offer.

IPO Details

The Offer comprises of a fresh issuance of Equity Shares, aggregating up to Rs.5000 million and an offer for sale of Equity Shares aggregating up to 64,590,695 Equity Shares by the Selling Shareholders. The Net Proceeds from the Offer will be utilized towards augmenting the Company’s tier 1 capital requirements. The price band for the Offer is at Rs. 346 – Rs. 353 per Equity Share of face value Rs.2 each.

The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended, read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made in accordance with Regulation 6(1) of the SEBI ICDR Regulations, through the Book Building Process wherein not more than 50% of the Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers, not less than 15% of the Offer shall be available for allocation to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders.