Aptus Housing Finance fixes IPO price band at ₹346-353 per share
Premium- Aptus Value Housing Finance India Ltd will raise around ₹2,780 crore at ₹353 per share
- the non bank lender said its IPO will open on 10 August and close on 12 August
MUMBAI: South India based Aptus Value Housing Finance India Ltd has fixed price band for its initial public offering of ₹346-353 a share. Earlier, the non bank lender said its IPO will open on 10 August and close on 12 August.
Aptus has been founded by M Ananda, former chief executive and director of financial services businesses at Murugappa Group.
The IPO comprises a fresh issue of ₹500 crore and an offer for sale of 64.59 million by its current shareholders and promoters.
The company's offer for sale comprises sale of 2.5 million shares by Padma Anandan, 19.76 million shares by Aravali Investment Holdings, 28.38 million shares by JIH II LLC, 10 million shares by Ghiof Mauritius, 3.72 million shares by Madison India Opportunities IV.
At the upper end of the price band, the lender will raise around ₹2,780 crore at ₹353 each.
About 55% of Aptus is held by private equity investors—Westbridge Capital, Sequoia Capital, Steadview Capital and Malabar Investment Advisors.
The object of the offer is to augment the company's capital base to meet future capital requirements.
As of December 2020, the non bank lender had 181 branches with total assets under management of ₹37.91 billion.
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For the fiscal year March 2020, it reported total income of ₹523.72 crore compared to ₹337.11 crore a year ago. Net profit for the fiscal stood at ₹211.01 crore from ₹111.56 crore a year ago.
It disbursed loans amounting to ₹8,788.48 million for the nine months ended 31 December 2020 and ₹12,709.80 million for financial year 2020.
As of December 2020, the comany's gross non performing assets (NPAs) as a percentage of gross loans stood at 0.77%, compared to 0.7% in March 2020. Net NPAs for the period stood at 0.57%, against 0.54% in March 2020. The company's capital adequacy ratio stood at 75.03%, compared to 82.49% a year ago.
The lender is an entirely retail focused housing finance company primarily serving low and middle income self-employed customers in the rural and semi-urban markets of India.
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