The Initial Public Offering (IPO) of Aptus Value Housing Finance has been opened for bidding today, that is, on August 10, 2021. The price range will be Rs 346-353 per share. It is a retail housing finance company that offers loans for the purchase of residential properties and makes loans against real estate.
The IPO will end on August 12 and consists of a new issue of ₹ 500 crores and an offer to sell up to 6,45,90,695 shares of the stock by existing selling shareholders, which includes promoter Padma Anandan and investors Aravali, Investment Holdings, JIH II LLC, and GHIOF Mauritius and Madison India Opportunities IV.
The total funds raised through the operation will be Rs 2,780.05 crores, while the proceeds from the IPO will be used to meet the company's Tier 1 capital requirements. Investors can bid for a minimum of 42 shares and multiples of 42 shares after that. Retail investors can invest as little as Rs 14,826 per lot and as much as Rs 1,92,738 per 13 lots. Aptus Value has allocated up to 50 percent of the total offering to qualified institutional buyers, 35 percent to individual investors, and 15 percent to non-institutional investors.
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