Aptus Value Housing plans Rs 3,000 cr IPO

Mumbai: Aptus Value Housing Finance, backed by Sequoia Capital and WestBridge Capital, is set for a ₹3,000-crore initial public offering, as the South India-based housing finance company looks to take advantage of a post-pandemic market rally, which lifted the broader markets to record highs.

Aptus, founded by former Murugappa Group executive M Anandan, will dilute about a 15-20% stake, valuing the company at around Rs 20,000 crore.

ICICI Securities, Citigroup, Edelweiss Securities and Kotak were hired as the book runners to the offering, which is scheduled in the second quarter of the next fiscal year, said people aware of the matter.

About 55 per cent of Aptus is held by private equity investors — Westbridge Capital, Sequoia Capital, Steadview Capital and Malabar Investment Advisors.

The transaction could involve both primary and secondary infusions as some of the private equity investors would be taking a partial exit through the issue, said one of the people.

Aptus chairman Anandan and a spokesperson for Sequoia declined to comment while mails sent to WestBridge and Malabar Investment Advisors did not elicit any response till press time Sunday.