Aptus Value Housing files DHRP with SEBI for Rs 3,000 cr IPO
Real Estate

Aptus Value Housing files DHRP with SEBI for Rs 3,000 cr IPO

Home loan company Aptus Value Housing Finance Ltd has filed a draft red herring prospectus (DHRP) with the Securities and Exchange Board of India (SEBI) to raise around Rs 2,600-3,000 crore via an initial public offering (IPO).

The fundraising comprises a fresh issue of equity shares totalling Rs 500 crore and an offer for sale of up to 64,590,695 equity shares by the promoter and other shareholders.

As of December 31, 2020, Aptus' assets under management (AUM) stood at Rs 3,790.93 crore, out of which 72.50% were loans to self-employed customers while the remaining 27.50% accounted for salaried individuals.

On the same date, the company had 1,844 personnel, a network of 181 branches catering to 56,430 active loan accounts across Tamil Nadu, Andhra Pradesh, Puducherry, Karnataka, and Telangana and a strong capital sponsorship by marquee investors including Sequoia Capital, Malabar Investments, Steadview Capital, Westbridge, and Madison India.

Aptus Value Housing Finance, whose 60% customers are located in rural and semi-urban regions, offers home loans for purchase and self-construction of residential property, home improvement, extension loans, loan against property, and business loans, primarily to first time home buyers belonging to the low and middle-income groups.

The ticket sizes of its loans range between Rs 5-15 lakh, with tenures ranging between 8.5 to 12.5 years.

After growing its presence outside Tamil Nadu, to other major markets in southern India, it now intends to expand its branch network in large housing markets in Maharashtra, Odisha and Chhattisgarh.

As of December 31, 2020, the company’s net non-performing asset (NPA) stood at 0.57%, capital adequacy at 75.03% and collection efficiency at 99.20%.

The net proceeds from the issue will be utilised to increase the company's capital base and meet future growth requirements. Investment bankers appointed for the Issue are Kotak Mahindra Capital Company Ltd, Citigroup Global Markets India Pvt Ltd, ICICI Securities Ltd, and Edelweiss Financial Services Ltd.

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Also read: Penna Cement files DRHP with SEBI for Rs 1,550 cr IPO

Also read: Nirma Group-backed Nuvoco files DRHP for Rs 5,000 cr IPO

Home loan company Aptus Value Housing Finance Ltd has filed a draft red herring prospectus (DHRP) with the Securities and Exchange Board of India (SEBI) to raise around Rs 2,600-3,000 crore via an initial public offering (IPO). The fundraising comprises a fresh issue of equity shares totalling Rs 500 crore and an offer for sale of up to 64,590,695 equity shares by the promoter and other shareholders. As of December 31, 2020, Aptus' assets under management (AUM) stood at Rs 3,790.93 crore, out of which 72.50% were loans to self-employed customers while the remaining 27.50% accounted for salaried individuals. On the same date, the company had 1,844 personnel, a network of 181 branches catering to 56,430 active loan accounts across Tamil Nadu, Andhra Pradesh, Puducherry, Karnataka, and Telangana and a strong capital sponsorship by marquee investors including Sequoia Capital, Malabar Investments, Steadview Capital, Westbridge, and Madison India. Aptus Value Housing Finance, whose 60% customers are located in rural and semi-urban regions, offers home loans for purchase and self-construction of residential property, home improvement, extension loans, loan against property, and business loans, primarily to first time home buyers belonging to the low and middle-income groups. The ticket sizes of its loans range between Rs 5-15 lakh, with tenures ranging between 8.5 to 12.5 years. After growing its presence outside Tamil Nadu, to other major markets in southern India, it now intends to expand its branch network in large housing markets in Maharashtra, Odisha and Chhattisgarh. As of December 31, 2020, the company’s net non-performing asset (NPA) stood at 0.57%, capital adequacy at 75.03% and collection efficiency at 99.20%. The net proceeds from the issue will be utilised to increase the company's capital base and meet future growth requirements. Investment bankers appointed for the Issue are Kotak Mahindra Capital Company Ltd, Citigroup Global Markets India Pvt Ltd, ICICI Securities Ltd, and Edelweiss Financial Services Ltd. Image SourceAlso read: Penna Cement files DRHP with SEBI for Rs 1,550 cr IPO Also read: Nirma Group-backed Nuvoco files DRHP for Rs 5,000 cr IPO

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