 "Aptus Value down 13% in 2 days as it denies merger talks with Cholamandalam")
Shares of Aptus Value Housing Finance India (Aptus) slipped 7 per cent to Rs 245.30 on the BSE in Thursday's intra-day trade. In the past two trading days, the stock has dipped 13 per cent after the housing finance company denied merger & acquisition (M&A) talks with Cholamandalam Investment and Finance Company (Chola). Murugappa Group's Chola, too, has denied any interest in buying Aptus.
On Monday, the stock price of Aptus had zoomed 19 per cent to Rs 281.90 on the BSE.
"We hereby confirm that the Company is not part of any such negotiations/events as mentioned in the news report," Aptus clarified to the exchanges on Wednesday.
The clarification came after news reports said that Cholamandalam (Chola) was considering an arrangement with Aptus Value Housing, which would give it management control of Aptus".
"We confirm that when there is any material development with respect to the affairs of the Company, the Stock Exchanges will be kept advised…," Aptus said. The company further said it would also like to inform that there is no information /announcement which may have a bearing on the price / volume behaviour in the securities of the company.
On Thursday, Cholamandalam Investment, too, said that the company has not expressed any interest either in the past or at present in acquiring Aptus Value Housing Finance India.
Aptus is a retail-focused housing finance company that primarily serves low and middle-income self-employed customers in the rural and semi-urban markets of India. The company made stock market debut in August 2021. It issued shares at price of Rs 353 per share in its initial public offering (IPO).
In the past three months, Aptus has underperformed the market by falling 20 per cent, as compared to 4 per cent decline in the S&P BSE Sensex. Further, in the past six months, it has slipped 30 per cent as against 0.19 per cent rise in the benchmark index.
On Monday, the stock price of Aptus had zoomed 19 per cent to Rs 281.90 on the BSE.
"We hereby confirm that the Company is not part of any such negotiations/events as mentioned in the news report," Aptus clarified to the exchanges on Wednesday.
The clarification came after news reports said that Cholamandalam (Chola) was considering an arrangement with Aptus Value Housing, which would give it management control of Aptus".
"We confirm that when there is any material development with respect to the affairs of the Company, the Stock Exchanges will be kept advised…," Aptus said. The company further said it would also like to inform that there is no information /announcement which may have a bearing on the price / volume behaviour in the securities of the company.
On Thursday, Cholamandalam Investment, too, said that the company has not expressed any interest either in the past or at present in acquiring Aptus Value Housing Finance India.
Aptus is a retail-focused housing finance company that primarily serves low and middle-income self-employed customers in the rural and semi-urban markets of India. The company made stock market debut in August 2021. It issued shares at price of Rs 353 per share in its initial public offering (IPO).
In the past three months, Aptus has underperformed the market by falling 20 per cent, as compared to 4 per cent decline in the S&P BSE Sensex. Further, in the past six months, it has slipped 30 per cent as against 0.19 per cent rise in the benchmark index.
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