IPO News

Aptus Value Housing Finance India Limited's IPO to open on August 10, 2021

Posted On : 2021-08-05 23:16:16( TIMEZONE : IST )

Aptus Value Housing Finance India Limited ("Company"), one of the largest housing finance companies in South India in terms of asset under management, as of March 31, 2021 (Source: CRISIL Report) and having the largest branch network in South India among the peer set, as of March 31, 2021 (Source: CRISIL Report), will open its initial public offering of Equity Shares (the "Offer") on Tuesday, August 10, 2021 and close on Thursday, August 12, 2021. The price band for the Offer is at Rs. 346 - Rs. 353 per Equity Share.

The Offer comprises of a fresh issuance of Equity Shares, aggregating up to Rs.5000 million and an offer for sale of Equity Shares aggregating up to 64,590,695 Equity Shares by the Selling Shareholders.

The Net Proceeds from the Offer will be utilized towards augmenting the Company's tier 1 capital requirements.

The Company, the Individual Promoter Selling Shareholder and the Investor Selling Shareholders have, in consultation with the book running lead managers to the Offer (the "BRLMs"), considered participation by Anchor Investors, whose participation shall be on Monday, August 9, 2021 i.e., one Working Day prior to the Bid / Offer Opening Date.

The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended, read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made in accordance with Regulation 6(1) of the SEBI ICDR Regulations, through the Book Building Process wherein not more than 50% of the Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers, not less than 15% of the Offer shall be available for allocation to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders.

ICICI Securities Limited, Citigroup Global Markets India Private Limited, Edelweiss Financial Services Limited and Kotak Mahindra Capital Company Limited are the BRLMs to the Offer.

All capitalized terms used herein and not specifically defined shall have the same meaning as ascribed to them in the Red Herring Prospectus dated August 2, 2021 read together with the corrigendum to the Red Herring Prospectus - Notice to Investors dated August 4, 2021 (together, the "RHP") filed with the Registrar of Companies.

Source : Equity Bulls


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