Retail focused HFC, Aptus Value Housing gets SEBI approval for IPO equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.
Bongkarn Thanyakij
Housing finance company Aptus Value Housing Finance Limited (AVHFIL) filed its papers with the market regulator SEBI to raise around Rs 2,600 - 3,000 crore. The fund raised through the initial public offering (IPO) will be used to increase the companyâs capital base and to meet future growth requirements.
The fund raise comprises a fresh issue of equity shares aggregating to 500 crore and an offer for sale of upto 6.45 crore equity shares by promoter and other selling shareholders.
The company had marquee investors like West Bridge Crossover Fund, Malabar Investments, Sequoia Capital, Steadview Capital and Madison India.
As of December 31, 2020, the companyâs AUM stood at Rs 3,790.93 crore of which 72.50 per cent were loans to self-employed customers while the balance 27.50 per cent accounted for salaried individuals.
Aptus Value Housing files draft papers for IPO
May 16, 2021
Housing finance company plans to raise about ₹2,600-3,000 crore
Chennai-headquartered Aptus Value Housing Finance India Ltd (AVHFIL) has filed draft papers with the market regulator for an Initial Public Offering (IPO), with the company intending to use the proceeds to increase its capital base.
The housing finance company, which has the largest branch network in South India, intends to raise about ₹2,600-3,000 crore through the offering, sources close to the development said.
The IPO would comprise a fresh issuance of shares totalling ₹500 crore and an offer-for-sale of up to 6.5 crore shares by promoter and shareholders. ICICI Securities Ltd, Citigroup Global Markets India Pvt Ltd, Edelweiss Financial Services Ltd and Kotak Mahindra Capital Company Ltd are the book running lead managers to the issue, according to the Draft Red Herring Prospectus (DRHP) filed with SEBI.
Retail focused HFC, Aptus Value Housing files for Rs 3000 Cr IPO equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.
BL Research Bureau
Investors can avoid the initial public offer of Home First Finance opening today. The company is an affordable housing financier that has been in business for more than a decade now. While there’s huge untapped potential in the affordable housing market, we feel that the intense competition in the space poses risks to scalability of its loan book and sustainability of the quality of its credit profile, from hereon. Investors can hence wait and watch out the company’s performance over the next few quarters before they enter the stock.
Through the IPO, its promoters and private equity firms (True North Fund, Aether (Mauritius), and Bessemer India Holdings), are looking to collectively divest 21 per cent stake in the company. The offer also comprises a fresh issue worth Rs 265 crore.