Aptus Value Housing Finance IPO subscribed 17.20 times on the final day of issue

The initial public offering (IPO) of the South India-based home finance lender Aptus Value Housing Finance India Limited was subscribed 17.20 times on the third and final day of its issue, i.e., on August 12, 2021. The IPO received bids for 51,04,86,732 shares as against the issue size of 1,57,51,000 shares, according to the NSE data.

The QIB portion was subscribed 32.41 times, while the NII and retail portions were subscribed 33.91 times and 1.35 times, respectively. The price band for the subscription of the offer was fixed at Rs 346-353 per equity share. The retail investors were allowed to bid for a minimum of 42 shares or in multiples thereof up to 13 lots.

The company had plans to raise Rs 2,870 crore from the initial stake sale. The issue comprises fresh issuance of shares, aggregating up to Rs 500 crore, and an offer for sale of up to Rs 2,280 crore by promoters and existing shareholders.

Aptus will utilise net proceeds from the fresh issue for augmenting its Tier-I capital requirements, while the offer for sale proceeds will go to the shareholders.

Aptus Value Housing Finance has already raised Rs 834 crore from anchor investors ahead of its initial share sale by allocating around 2.36 crore shares at Rs 353 per share to the anchor investors.

Aptus Value Housing Finance is one of the largest Housing Finance Companies in South India (CRISIL Report). It is a retail-focused company serving low and middle-income self-employed customers in rural and semi-urban India. It has diversified its geographical presence, focused on achieving deeper penetration in the existing market.