Aptus Value Housing Finance India shares will be listed on the BSE and NSE today. The IPO had received 17.20 times subscription. The Rs 2,780-crore IPO received bids for 94,82,42,442 shares against 5,51,28,500 shares on offer, according to exchanges data.
The category for Qualified Institutional Buyers (QIBs) received 32.41 times subscription, while those for non-institutional investors 33.91 times and Retail Individual Investors(RIIs) 1.35 times.
The IPO had a fresh issue of up to Rs 500 crore and an offer for sale of up to 6,45,90,695 equity shares. The issue was in a price range of Rs 346-353 per share. The issue was finalised at Rs 353. Ahead of the public issue, the company had raised Rs 834 crore from anchor investors.
In the grey market, the unlisted shares are commanding a negative premium of Rs 25. This means that the shares will be listed below the issue price.
Notably, investors interest in IPOs has decreased recently after disappointing performances by some debutants. Experts recommend that Aptus Value Housing is a good long-term proposition.
Aptus Value Housing will use the net proceeds from the fresh issue towards augmenting the company’s tier-1 capital requirements. Aptus Value provides loans to individuals buying residential properties as well as loans against properties to self-employed consumers. It focuses in the rural and semi-urban marketplaces.