Aptus Value Housing files for Rs 3,000-crore IPO

After efficiently rising its presence exterior its dwelling state Tamil Nadu to different main markets in southern India, it now intends to broaden its department community in massive housing markets in Maharashtra, Odisha and Chhattisgarh.

Chennai-based housing finance firm Aptus Worth Housing Finance (AVHFIL) which has a major footprint in south India, has filed papers with market regulator Sebi to lift Rs 2,600 crore to Rs 3,000 crore via an preliminary public providing (IPO).

The fund increase contains of a recent concern of fairness shares aggregating to Rs 500 crore and a suggestion on the market of as much as 64,590,695 fairness shares by the promoter and different promoting shareholders, in line with an organization launch. The web proceeds from the difficulty can be utilised in direction of augmenting the corporate’s capital base and to fulfill future progress necessities.

Because the inception of the corporate in 2010, it has had a clear asset high quality with very low NPA. As of December 31, 2020, the corporate’s AUM stood at Rs 3,790.93 crore, of which 72.50% have been loans to self-employed clients whereas the steadiness 27.50% accounted for salaried people.

The corporate has a workforce of 1,844 and a community of 181 branches catering to 56,430 energetic mortgage accounts throughout 75 districts in Tamil Nadu (together with the Union Territory of Puducherry), Andhra Pradesh, Karnataka and Telangana. It has a powerful capital sponsorship by marquee traders corresponding to Westbridge, Malabar Investments, Sequoia Capital, Steadview Capital and Madison India, it stated.

With 60% of its clients positioned in rural/ semi-urban areas, AVHFIL presents dwelling loans for buy and self-construction of residential property, dwelling enchancment, extension loans, mortgage towards property and enterprise loans, primarily to first-time dwelling consumers belonging to the low- and middle-income teams The ticket sizes of its loans ranges between Rs 5 lakh and Rs 15 lakh with tenures ranging between 8.5 and 12.5 years.

After efficiently rising its presence exterior its dwelling state Tamil Nadu to different main markets in southern India, it now intends to broaden its department community in massive housing markets in Maharashtra, Odisha and Chhattisgarh.

The discharge stated the corporate has stayed resilient and has seen constant efficiency via previous and ongoing macroeconomic challenges. As of December 31, 2020, its web NPA stood at 0.57%, capital adequacy at 75.03% and assortment effectivity at 99.20%.

Funding bankers appointed for the Concern are ICICI Securities, Citigroup World Markets India, Edelweiss Financial Services and Kotak Mahindra Capital Firm.