Aptus Value Housing Finance has documented fundamental papers with capital market sectors regulator SEBI to raise up to Rs 3,000 crore through an initial share sale.
The underlying public offer (IPO) involves the new issue of value shares conglomerating to Rs 500 crore and a proposal available to be purchased of up to 6,45,90,695 value shares by the promoter and existing investors, Draft Red Herring Prospectus (DRHP) stated.
The net proceeds from the new issue will be used towards expanding the organization’s capital base and meeting future development prerequisites.
As per dealer banking sources, the IPO is expected to get Rs 2,600-Rs 3,000 crores.
Aptus Value Housing Finance has a solid capital sponsorship by marquee financial backers like Westbridge, Malabar Investments, Sequoia Capital, Steadview Capital, and Madison India.
Since the commencement of the organization in 2010 till date, the organization has unblemished asset quality with extremely low NPA (non-performing asset) and as of December 2020, the association’s asset under administration remained at Rs 3,791 crore of which 72.50 percent credited to independently employed clients while the equilibrium 27.50 percent represented salaried people.
As of December 2020, the organization had 1,844 staff and an organization of 181 branches obliging 56,430 dynamic credit accounts across Tamil Nadu, Puducherry, Andhra Pradesh, Karnataka, and Telangana.
After effectively developing its essence outside its home state Tamil Nadu to other significant business sectors in southern India, Aptus Value Housing Finance is currently planning to grow its branch network in huge real estate markets in the territories of Maharashtra, Odisha, and Chhattisgarh.
ICICI Securities, Citigroup Global Markets India, Edelweiss Financial Services, and Kotak Mahindra Capital Company have been selected as venture investors for exhorting the organization on the public issue.