Aptus Value Housing Finance India Ltd (AVHFL) is one of the largest housing finance companies in south India in terms of assets under management (AUM), primarily serving low- and middle-income self-employed customers in rural and semi-urban markets.
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Aptus Value Housing files draft papers for IPO
May 16, 2021
Housing finance company plans to raise about ₹2,600-3,000 crore
Chennai-headquartered Aptus Value Housing Finance India Ltd (AVHFIL) has filed draft papers with the market regulator for an Initial Public Offering (IPO), with the company intending to use the proceeds to increase its capital base.
The housing finance company, which has the largest branch network in South India, intends to raise about ₹2,600-3,000 crore through the offering, sources close to the development said.
The IPO would comprise a fresh issuance of shares totalling ₹500 crore and an offer-for-sale of up to 6.5 crore shares by promoter and shareholders. ICICI Securities Ltd, Citigroup Global Markets India Pvt Ltd, Edelweiss Financial Services Ltd and Kotak Mahindra Capital Company Ltd are the book running lead managers to the issue, according to the Draft Red Herring Prospectus (DRHP) filed with SEBI.
Westbridge-backed Aptus Value Housing Finance files for IPO
Photo by Tomek Mądry from Pexels
May 16, 2021
South India-based Aptus Value Housing Finance India Ltd has filed a draft red herring prospectus (DRHP) with the Securities Exchange Board of India (Sebi) to raise funds through an initial public offering (IPO).
Aptus has been founded by M Ananda, former CEO and director of the Financial Services Businesses in Murugappa Group.
The IPO comprises a fresh issue of ₹500 crore and an offer for sale of 64.59 million by its current shareholders and promoters.
An offer for sale comprises the sale of 2.5 million shares by Padma Anandan, 5 lakh shares by Westbridge Crossover Fund LLC, 19.76 million shares by Aravali Investment Holdings, 27.88 million shares by JIH II LLC, 9.99 million shares by Ghiof Mauritius, and 3.72 million shares by Madison India Opportunities IV.