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Aptus Value Housing Finance India Ltd IPO

Closed
Subscription Details
  • Open Date 10 Aug
  • Close Date 12 Aug
  • Lot Size 42
  • IPO Size ₹ ₹ 2,780.05 Cr
  • IPO Price Range ₹ 346 to 353
  • Min Investment ₹ 14,532
  • Listing Exchange NSE, BSE

Aptus Value Housing Finance India Ltd IPO Timeline

Open Date
10 Aug
Close Date
12 Aug
Basis of Allotment
18 Aug
Refunds
20 Aug
Credit to Demat Account
23 Aug
Listing Date
24 Aug

IPO Synopsis


Aptus Value Housing Finance, a housing finance company is launching its Initial Public Offer from August 10th. Aptus Value Housing Finance IPO will be open for subscription till August 12th.

 

Aptus Value Housing Finance Shareholding Pattern

% Shareholding

Pre- IPO(%)

Post-IPO(%)

Promoter & Promoter Group

74.87

72.23

Public

25.12

27.77

 

Offer Details:

The offer comprises of a fresh issue and an offer for sale. The fresh issue is comprised of INR 500cr which would be utilized towards fully augmenting the tier I capital requirements of the company. The offer for sale is comprised of 64,590,695 equity shares amounting to ~₹2,280cr and the proceeds would directly go to the selling shareholder.

 

Aptus Value Housing Finance India Ltd IPO Subscription Status

Aptus Value Housing Finance India IPO Subscription Status

Category Subscription Status
Qualified Institutional (QIB) 32.41 Times
Non-Institutional (NII) 33.91 Times
Retail Individual 1.35 Times
Total 17.20 Times

 

Aptus Value Housing Finance IPO Subscription Details (Day by Day)

 
Date QIB NII Retail Total
Aug 10, 2021 17:00 0.25x 0.01x 0.33x 0.24x
Aug 11, 2021 17:00 0.33x  0.06x  0.54x  0.37x 
Aug 12, 2021 17:00 32.41x 33.91x 1.35x 17.20x

About Aptus Value Housing Finance India Ltd

Aptus Value Housing Finance India Limited is an entirely retail-focused housing finance company primarily serving low and middle-income self-employed customers in the rural and semi-urban markets of India. The company is one of the largest housing finance companies in south India in terms of AUM, as of March 31, 2021 (Source: CRISIL Report). The company offers customers home loans for the purchase and self-construction of residential property, home improvement and extension loans; loans against property; and business loans. Aptus Value Housing Finance target first time home buyers where the collateral is a self-occupied residential property and does not provide any loans with a ticket size above ₹2.50 million. The company has implemented a robust risk management architecture which is reflected in their asset quality. The company has repeatedly pointed out that this self-employed entry level segment is normally very cautious about credit records since they cannot afford to be blacklisted in the credit market in any form. Hence, they ensure to make their EMI payments on time, even in the midst of tough financial conditions. This is evident from the fact that Aptus Value Housing enjoys collection efficiency of 99.20%.

Aptus Value Housing Finance India Ltd Promoter Holding

No data Available

Aptus Value Housing Finance - Financials

 

Particulars (in crore)

FY19

FY20

FY21

Revenue from operations

323.85

500.32

636.62

EBITDA

277.47

437.64

557.31

PAT

111.48

211.01

266.94

Debt to net worth

2.30

1.18

1.27

Source: RHP


Competitive Strengths:

Some of the competitive strengths are as follows

Presence in large, underpenetrated markets with strong growth potential:

Aptus Value Housing Finance is one of the largest housing finance companies in south India in terms of AUM, as of March 31, 2021, with presence in the states of Tamil Nadu (including the union territory of Puducherry), Andhra Pradesh, Karnataka and Telangana. According to the CRISIL Report, the company had the largest branch network in south India among the Peer Set, as of March 31, 2021. These four states have high per-capita incomes, better financial literacy and GDP growth rates. As a result, the company is well positioned to capitalize on growth opportunities and cater to the housing finance requirements of their target customer base in these geographies.

In-house operations leading to desired business outcomes:

Aptus Value Housing Finance conducts all aspects of their lending operations in-house including sourcing, underwriting, valuation and legal assessment of collateral and collections, which enables the company to maintain direct contact with their customers, reduce turn-around-times and the risk of fraud. The direct sourcing model has helped the company maintain contact with their customers and establish strong relationships with them, led to customer referrals, high levels of customer satisfaction and increased loyalty. It has also helped mitigate underwriting and default risks by enabling the company to have a customer base with a better credit profile. Their in-house sourcing model helps them make a better credit evaluation of customers on a wide range of parameters after collating all customer information in their database.

Domain expertise built over time resulting in a business model difficult to replicate by others:

The company targets first time home buyers where the collateral is a self-occupied residential property. Loans to self-employed customers accounted for ₹29,308.79mn, or 72.05% of their AUM, while loans to salaried customer accounted for ₹11,368.83mn, or 27.95%, as of March 31, 2021. Since Aptus Value Housing Finance primarily caters to self-employed customers, many of who are new to credit and do not have formal in-come proofs such as pay slips or income tax returns, the company assess their income through various methods and conduct a cash flow assessment of their income to determine their ability to repay loans. On account of their domain expertise to underwrite self-employed customers with limited income proofs, the company has been able to effectively serve customers, grow their business and create a business model that is difficult to replicate in their geographies.

 

Risk Factors:

Some of the risk factors are as follows

1.    The company requires substantial capital for their business and any disruption in their sources of capital could have an adverse effect on their business, results of operations and financial condition.

2.    Extended period of the pandemic could have an impact on the quality of the assets and adversely affect their business. 

3.    The risk of non-payment or default by borrowers may adversely affect their business, results of operations and financial condition.
 

How to Apply for an IPO?

  • Login to your 5paisa account and select the issue in the current IPO section
  • Enter the number of lots and price at which you wish to apply for
  • Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange
  • You will receive a mandate notification to block funds in your UPI app
  • You will receive a mandate notification to block funds in your UPI app

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Contact Details of Aptus Value Housing Finance India Ltd IPO

Contact Information

Address

Aptus Value Housing Finance India Ltd
No. 8B, Doshi Towers, 8th Floor, No: 205
Poonamallee High Road, Kilpauk, Chennai 600 010,


Phone: +91 44 4565 0000
Email: cs@aptusindia.com
Website: http://www.aptusindia.com/

Aptus Value Housing Finance India Ltd IPO Register

Address

KFintech Private Limited
   KFintech, Tower-B, Plot No 31 & 32,
   Financial District, Nanakramguda, Gachibowli,
   Hyderabad, Telangana India - 500 032.

Phone: 04067162222, 04079611000
Email: aptus.ipo@kfintech.com
Website: https://karisma.kfintech.com/

Aptus Value Housing Finance India Ltd IPO Lead Manager

Citigroup Global Markets India Private Limited


Edelweiss Financial Services Ltd


ICICI Securities Limited


Kotak Mahindra Capital Company Limited

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