Aptus Value Housing Finance drops on debut

Shares of Aptus Value Housing Finance India were currently trading at Rs 340.60 per share, a discount of 3.51% compared with the issue price of Rs 353 per share.

The scrip was listed at a price of Rs 329.95 per share, at a discount of 6.53% to the initial public offer (IPO) price. The stock has hit a high of Rs 348.80 and a low of Rs 329.95 so far. On the BSE, 5.68 lakh shares of the company were traded in the counter.

The issue opened for bidding on Tuesday (10 August 2021) and closed on Thursday (12 August 2021). The price band of the IPO was fixed at Rs 346-353 per share.

The IPO of Aptus Value Housing Finance received bids for 94.82 crore shares as against 5.51 crore shares. The issue was subscribed 17.20 times.

The non-institutional investors (NIIs) category was subscribed 33.91 times. The qualified institutional buyers (QIBs) category was subscribed 32.41 times. The retail individual investors (RIIs) category was subscribed 1.35 times.

The IPO comprised of a fresh issue of up to Rs 500 crore and an offer for sale of up to 6,45,90,695 equity shares. The company proposes to utilize the net proceeds from the offer for augmenting equity capital base to meet future capital requirements arising out of growth in business.

Ahead of the IPO, Aptus Value Housing Finance on 9 August 2021 finalized allocation of 2,36,26,500 equity shares to anchor investors, at Rs 353 per equity share, aggregating to Rs 834.01 crore.

Aptus Value Housing Finance is Chennai based retail focused housing finance company catering to affordable housing segment primarily serving low- and middle-income self-employed customers in the rural and semi-urban markets of India. The company is one of the largest housing finance companies in south India in terms of AUM, which started operation on 25 June 2010. AUM of the company has increased at robust CAGR of 35% to double from Rs 2247.23 crore end March 2019 to Rs 4067.76 crore end March 2021. The company serviced 58,069 active loan accounts end March 2021.

The company reported a consolidated net profit of Rs 266.94 crore and total income of Rs 655.24 crore in the twelve months ended 31 March 2021.

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