Aptus Value Housing Finance's initial public offer (IPO) opens for bidding today i.e. August 10, 2021. It will have a price band of Rs 346-353 per equity share. Aptus Value Housing Finance is a retail housing finance company which offers home loans for purchasing residential properties and also gives loan against property.
The IPO will close on August 12 and consists of a fresh issue of Rs 500 crore and an offer for sale of up to 6,45,90,695 equity shares by existing selling shareholders including promoter Padma Anandan, and investors Aravali Investment Holdings, JIH II LLC, GHIOF Mauritius, and Madison India Opportunities IV.
The total fund raising through the process will be Rs 2,780.05 crore, while the proceeds from the IPO will be used for fulfilling the company's tier-I capital requirements.
Investors have the option of bidding for a minimum of 42 equity shares and in multiples of 42 equity shares thereafter. Retail investors can invest a minimum of Rs 14,826 per lot and the maximum investment would be Rs 1,92,738 for 13 lots.
Aptus Value has reserved up to 50 per cent of total offer for qualified institutional buyers, 35 per cent for retail investors, and 15 percent for non-institutional investors.