Aptus Value Housing Finance IPO: The Rs 2780 crore IPO of Aptus Value Housing Finance opened for subscription on Tuesday (August 10, 2021). The IPO band is Rs 346-353. On Monday itself, the company had raised Rs 834 crore from anchor investors. The company has sold shares worth Rs 834 crore to these investors at Rs 353 per share. Its shares are trading at a premium of only 6 per cent in the gray market. After listing, the company will come in competition with peer companies like Aavas Financiers Limited. New shares worth about Rs 500 crore will be issued by the company and there will be an offer for sale for more than 64 lakh equity shares from the promoter and existing shareholders. The lot size of its shares is 42. ICICI Securities, Citigroup Global Markets, Edelweiss Financial Services and Kotak Mahindra Capital are its investment bankers.
25% reserved for retail investors
50 per cent of the company’s IPO has been reserved for Qualified Institutional Buyers (QIBs), 35 per cent for retail investors and the rest for non-institutional investors (NIIs). The asset quality of the company is good. NPA is low. The assets under management have grown at a CAGR of 34.54 per cent in the last two financial years.
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What is the opinion of brokerage houses?
Geojit Financial Services, Antique Stock Broking and Marwadi Shares and Finance have given it a subscribed rating. Geojit Financial Services says that it has given it a subscribed rating on a long-term basis. This says that Aptus Value Housing Finance has a good return ratio. Looking at the good growth and margins, it can be subscribed.
Antique Stock Broking says that it has achieved good success in business by choosing the right customer profile. Investors looking to invest for the long term can subscribe to its IPO. Marwadi Shares and Finance says that the company is present in those areas with good potential, where housing financing companies have not been able to reach. It has potential for growth and its shares are available cheaply in comparison to peer companies.
Axis Capital has not given it any rating but believes that it offers housing loans to low and middle income self-employed in rural and semi-urban markets. This segment has a very good potential, which can benefit the company.
(Inputs: Surabhi Jain)
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