Aptus Value Housing Finance Listing: After the diminutive listing of Cartrade Tech and Nuvoco Vistas, the listing of two more companies today disappointed investors. Apart from Chemplast Sanmar, today another company Aptus Value Housing Finance has been listed in the stock market. Despite the rally in the market, its shares are listed at a discount of 6.53 percent i.e. Rs 329.95 against the issue price of Rs 353.
This housing finance company had entered the primary market to raise 2780 crores through IPO. Under the IPO, new equity shares of Rs 500 crore with a face value of Rs 2 have been issued and the remaining shares have been issued under offer for sale. Its market cap at the time of listing stood at Rs 16351 crore. This IPO was oversubscribed 17.20 times.
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Finance to low and middle income group
Aptus Value Housing finances low and middle income self-employed customers in rural and semi-urban areas. This housing company finances the purchase and self-construction of residential property, home improvement and loan extension. However, here a loan of more than Rs 25 lakh is not available. Its operating profit grew at a CAGR of 51 per cent (Compound Annual Growth Rate) to Rs 350.9 crore between FY 2019 and 2021. Analysts at Marwari Financial Services had given a subscribe rating to the issue and said that it has a better valuation than Pierce and has great growth potential.
Chemplast Sanmar’s poor start has left investors disappointed, despite the boom in the stock market, the re-entry was not spectacular
Today another company’s faded listing
Today the listing of Chemplast Sanmar has disappointed the investors. The company’s shares were listed on the BSE at a discount of about 3 percent at Rs 525 against the IPO price of Rs 541. However, its shares were listed on NSE at a premium of just 1.66 per cent i.e. Rs 550. Let us tell you that the shares of the company have re-entered the market and before that it was delisted in 2012. Its IPO was open for subscription on August 10-12. This IPO of Rs 3850 crore was subscribed 2.17 times. Its market cap at the time of listing stood at Rs 8300.75 crore.