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Aptus Value Housing Finance India Ltd is a home loan company focusing on low and middle income families in semi-urban and rural markets. The company is set to open for initial public offering on August 10 and close on August 12.
Aptus plans to raise Rs 2780 crore through the IPO and the price band is fixed at Rs 346 to Rs 353 per equity share of face value of Rs 2. The IPO will have fresh issue of shares and offer for sale by existing shareholders including promoter of the company.
Company Summary
Aptus is a retail focused housing finance company catering to the needs of value conscious customers in India. The company is one of the leading financing companies in Southern India serving low and middle income families in the semi-urban and rural geographies. The firm has a total of 181 branches. It has an asset under management of Rs 3790.93 crore as of end of December 2020. The company’s asset rose at a CAGR of 38.83% from 2018 to 2020.
The company has the second lower cost to income ratio among other players in the segment and the company has not restructured any loans or written-off any loans receivable since inception. Its gross NPA stood at 0.77% at the end of December 2020.
The company provides different financial products to various customers. Some of their loan products include home loans to purchase and self-construction of residential property, home improvement and extension loans against property, etc. Loans to self-employed customers comprises 72.55% of the assets, while the remaining 27.5% caters to salaried customers.
Company Strengths
- Large presence in underpenetrated markets with strong growth potential
- Robust risk management process from origination to collections leading to superior asset quality
- In-house operations leading to favourable results
- Experienced team with marquee shareholders and robust corporate governance
- Strong financial performance with industry leading profitability
Company Promoters
M Anandan, Padma Anandan and WestBridge Crossover Fund, LLC
Financial Summary
Particulars | For the period ended (Rs in crore) | ||
31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |
Total Assets | 4520.16 | 3746.72 | 2327.68 |
Total Revenue | 655.24 | 523.72 | 337.11 |
Profit After Tax | 266.94 | 211.01 | 111.48 |
Purpose of the IPO
- The company plans to utilize the net proceeds from fresh issue to improve its capital base to meet the future capital requirements
- The proceeds from fresh issue will also be used to meet the expenses with respect to the offer
- To improve the company’s brand name and visibility by listing
- The proceeds of the Offer for Sale will be received by each selling shareholder
IPO Details
IPO Opening Date | August 10, 2021 |
IPO Closing Date | August 12, 2021 |
Issue Type | Book Built Issue IPO |
Face Value | Rs 2 per equity share |
IPO Price | Rs 346 to Rs 353 per equity share |
Market Lot | 42 Shares |
Min Order Quantity | 42 Shares |
Listing At | BSE, NSE |
Issue Size | Rs 2,780.05 crore |
Listing Date | August 24, 2021 |
IPO Lot Size
Application | Lots | Shares | Amount (Cut-off) |
Minimum | 1 | 42 | Rs 14,826 |
Maximum | 13 | 546 | Rs 1,92,738 |
To read more about another IPO on August 10 by Chemplast Sanmar, click here