Aptus Value Housing Finance
IPO Size
`2,780 Cr
Price Band
`346-353 Per Share
Minimum Lot Size
42 Share
Face Value
`2 Per Share
Employee Discount
NA
Retail Allocation
35%
Issue Open Date
10 Aug, 2021
Issue Close Date
12 Aug, 2021
Listing Date
IPO Size
Price Band
Minimum Lot Size
Face Value
Employee Discount
Retail Allocation
Issue Open Date
Issue Close Date
Listing Date
About the Company:
Aptus Value Housing Finance Limited is entirely retail focused housing finance company primarily serving low and middle income self-employed customers in the rural and semi-urban markets of India. According to the CRISIL Report, the Company had the highest Return on Assets of 5.7% among the peers during the FY21. Aptus Value Housing is one of the largest housing finance companies in south India in terms of AUM, as of March 31, 2021. The AUM of the company have increased from ₹22,472.33 million, as of March 31, 2019 to ₹40,677.62 million, as of March 31, 2021, at a CAGR of 34.54%.
The company has implemented a robust risk management architecture which is reflected in their asset quality. They conduct all aspects of lending operations in-house including sourcing, underwriting, valuation and legal assessment of collateral and collections, which enables them to maintain direct contact with their customers, reduces turn-around-times and the risk of fraud. Over years, the NBFC has studied and developed credit assessment models specific to over 60 types of customer profiles.
Outstanding Litigation:
| S.No. | 1 - Company | 2 - Promoters | 3 - Directors | 4 - Subsidiaries | |||
| Criminal cases | 7 | - | 2 | - | |||
| Material civil cases | - | - | - | ||||
| Taxation matters | - | - | - | - | |||
| Regulatory Procedings | - | - | 4 | - | |||
| Amt. (In Million Rs.) | 8.75 | - | 20 | - | |||
Financial Statements:
| Income Statement (In Millions.) | FY21 | FY20 | FY19 |
| Interest Earned | 6,238.89 | 4,852.29 | 3,108.87 |
| Other Operating Income | 127.26 | 150.97 | 129.64 |
| Other Income | 186.27 | 233.94 | 132.64 |
| Total Income | 6,552.42 | 5,237.20 | 3,371.15 |
| Interest Expended | 2,065.34 | 1,845.49 | 1,162.18 |
| Net Interest Income | 4,300.81 | 3,157.77 | 2,076.33 |
| Operating expenses | 1,058.40 | 1,278.25 | 1,961.56 |
| Total Expenses | 3,101.51 | 2,764.30 | 1,844.09 |
| Profit before Taxes | 3,450.91 | 2,472.90 | 1,527.06 |
| Taxes | 781.47 | 362.78 | 412.23 |
| Net Profit for the Year | 2,669.44 | 2,110.12 | 1,114.83 |
The promoters of the company are M Anandan, Padma Anandan and WestBridge Crossover Fund, LLC.
The company will face tough competition from Aavas Financiers Limited, Repco Home Finance, and Home First Finance.
The object of the Offer for Sale is to allow Padma Anandan, Aravali Investment Holdings, Madison India Opportunities IV and others to sell an aggregate of up to 64.6 million equity Shares held by them amounting at Rs. 2,280 cr. The company will not receive any proceeds from the Offer for Sale.
The company has planned to raise fresh capital comprising an aggregate of 1,41,64,305 equity shares having Face Value ₹2 aggregating up to Rs. 500 Cr at the upper price band of Rs. 353. The net proceeds will be required for augmenting the tier I capital requirements of our Company.