Aptus Value Housing Finance India is set to launch its initial public offering in the coming week on August 10. The offer will close on August 12.
Anchor book, if any, will open for one working day prior to the issue opening date, i.e. August 9.
The initial public offer comprises a fresh issue of Rs 500 crore and an offer for sale of up to 6,45,90,695 equity shares by promoter and investors.
The offer for sale consists of 25 lakh equity shares by promoter Padma Anandan, 1,97,62,495 equity shares by investor Aravali Investment Holdings, 2,83,79,135 equity shares by investor JIH II LLC, 99,97,855 equity shares by investor GHIOF Mauritius, 37,23,710 equity shares by investor Madison India Opportunities IV, 1,25,000 equity shares by KM Mohandass HUF, 75,000 equity shares by R Umasuthan, and 27,500 equity shares by Saurabh Vijay Bhat.
The company will announce its IPO price band and lot size, at a conference organised on August 5.
Aptus will utilise net proceeds from the fresh issue for augmenting its tier I capital requirements, while the offer for sale money will go to selling shareholders.
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Aptus Value Housing Finance is an entirely retail focussed housing finance company primarily serving low and middle-income self-employed customers in the rural and semi-urban markets of India. It had the highest return on assets (RoA) of 5.7 percent among the peer set during the financial year 2021.
It is one of the largest housing finance companies in south India in terms of AUM as of March 2021. Its AUM has increased at a CAGR of 34.54 percent to Rs 4,067.76 crore during FY19-FY21.
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Since its inception, the company has not restructured any loans or written off any loans receivable.
Promoters of the company are M Anandan, Padma Anandan, and WestBridge Crossover Fund LLC, having a shareholding of 60.84 percent.
Investors – Aravali Investment Holdings held a 4.11 percent stake in the company, JIH II LLC has 8.69 percent shareholding, GHIOF Mauritius 2.08 percent, and Madison India Opportunities IV owned a 3.65 percent stake.
Among others, Malabar India Fund & Malabar Select Fund have a 7.89 percent stake in Aptus, Steadview Capital Mauritius 3.35 percent, and SCI Investments VI 3.32 percent shareholding.
ICICI Securities, Citigroup Global Markets India, Edelweiss Financial Services and Kotak Mahindra Capital Company are the book running lead managers to the issue.