Aptus Value Housing Finance files IPO papers with SEBI

Aptus Value Housing Finance has filed preliminary papers with market regulator Sebi to raise up to Rs 3,000 crore via an initial share sale.

The initial public offer (IPO) includes a fresh issue of equity shares aggregating to Rs 500 crore and an offer for sale of up to 6,45,90,695 equity shares by the promoter and existing shareholders, according to the draft red herring prospectus (DRHP).

The funds raised from the fresh issue will be used for increasing the company’s capital base and addressing future growth requirements.

As per merchant banking sources, the IPO is foreseen to raise Rs 2,600-Rs 3,000 crores.

Aptus Value Housing Finance has a robust capital sponsorship by marquee investors like Westbridge, Malabar Investments, Sequoia Capital, Steadview Capital, and Madison India.

Since the launch of the company in 2010 so far, the company has pristine asset quality with very low NPA and as of December 2020, the company’s asset under management was at Rs 3,791 crore of which 72.50 percent were lent to self-employed customers while the remaining 27.50 percent accounted for salaried individuals.

As of December 2020, the company had 1,844 employees and a network of 181 branches serving 56,430 active loan accounts across Tamil Nadu, Puducherry, Andhra Pradesh, Karnataka, and Telangana.

After successfully building its presence outside Tamil Nadu to other significant markets in southern India, Aptus Value Housing Finance is now looking to grow its branch network in large housing markets in the states of Maharashtra, Odisha, and Chhattisgarh.

ICICI Securities, Citigroup Global Markets India, Edelweiss Financial Services, and Kotak Mahindra Capital Company are appointed as investment bankers for advising the company on the public issue. 

Aptus Value Housing Finance appears to be a great platform helping several low-income households realizing their dream of having their own house. The company seems to have huge growth prospects. My best wishes to the team of Aptus Valley Housing Finance.

Shishir Gupta, Founder and CEO, StartupLanes

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