Aptus Value Housing Finance’s initial public offering (IPO) was subscribed 17.2 times as investor-interest picked up pace on the third and final day of the subscription. On the other hand, Chemplast Sanmar, a specialty Chemical manufacturer, managed subscription of a little over two times.
The retail-focused housing finance company, Aptus, received bids for 94.82 crore equity shares against an IPO size of 5.51 crore equity shares. The company is looking to raise ₹2,780 crore from the primary market. The IPO included a fresh issue of ₹500 crore and an offer for sale (OFS) of up to 6.5 crore equity shares by selling shareholders. The price band for the offer was fixed at ₹346 to ₹353 per share.
According to subscription data available on exchanges, the qualified institutional buyer category was subscribed 32.41 times while the non-institutional investor category was subscribed 33.91 times. The portion reserved for retail investors was subscribed just 1.35 times.
Chemplast Sanmar IPO
Chemplast Sanmar’s QIB portion and retail portion got oversubscribed by 2.70 times and 2.29 times, respectively. Overall the IPO received 2.1 times subscription. The issue received 1.27 times and 0.90 times subscription on the BSE and the NSE respectively.
The company intends to raise funds up to ₹3,850 crore, comprising fresh issue aggregating up to ₹1,300 crore and an offer for sale of up to ₹2,550 crore. The fresh issue will be used to redeem entire non-convertible debentures. The company allocated 3,20,24,029 equity shares to 78 anchor investors and raised ₹1,732.50 crore ahead of its IPO at the upper price band of ₹541 per equity share.