May 16, 2021

Aptus Value Housing Finance files DRHP with Sebi, to raise Rs 3,000 crore via IPO

Aptus Value Housing Finance has filed preliminary papers with capital markets regulator Sebi to raise up to Rs 3,000 crore through an initial share sale. The initial public offer (IPO) comprises fresh issue of equity shares aggregating to Rs 500 crore and an offer for sale of up to 6,45,90,695 equity shares by pomoter and existing shareholders, draft red herring prospectus (DRHP) showed.
The net proceeds from the fresh issue will be utilised towards augmenting the company's capital base and to meet future growth requirements.
According to merchant banking sources, the IPO is expected to fetch Rs 2,600-Rs 3,000 crore.
Aptus Value Housing Finance has a strong capital sponsorship by marquee investors like Westbridge, Malabar Investments, Sequoia Capital, Steadview Capital and Madison India.
Since the inception of the company in 2010 till date, the company has pristine asset quality with very low NPA (non performing assets) and as of December 2020, the firm's asset under management stood at Rs 3,791 crore of which 72.50 percent were loans to self-employed customers while the balance 27.50 percent accounted for salaried individuals.
After successfully growing its presence outside its home state Tamil Nadu to other major markets in southern India, Aptus Value Housing Finance is now intending to expand its branch network in large housing markets in the states of Maharashtra, Odisha and Chhattisgarh.
ICICI Securities, Citigroup Global Markets India, Edelweiss Financial Services and Kotak Mahindra Capital Company have been appointed as investment bankers for advising the company on the public issue.