Aptus Value IPO: Key Details
Note: We neither trade nor encourage our readers to trade in the Grey Market. We share the GMP information for educational purposes only, so that, you can make an informed decision.
Company Information
Aptus Value Housing Finance India Limited, incorporated in 2009, is an entirely retail focussed housing finance company primarily serving low and middle-income self-employed customers in the rural and semi-urban markets of India. They offer customers home loans for the purchase and self-construction of residential property, home improvement, and extension loans; loans against property; and business loans
Since inception, they have not restructured any loans or written off any loans receivable and as of March 31, 2021, March 31, 2020, and March 31, 2019, their Gross NPAs expressed as a percentage of Gross Loan Assets was 0.68%, 0.70%, and 0.40%, respectively. During the financial years 2021, 2020 and 2019, their Credit Costs to Average Total Assets was 0.14%, 0.11% and 0.06%, respectively
Competitive Strengths
- Presence in large, underpenetrated markets with strong growth potential
- Robust risk management architecture from origination to collections leading to superior asset quality
- In-house operations leading to desired business outcomes
- Domain expertise resulting in a business model difficult to replicate by others
- Experienced and stable management team with marquee shareholders
- Established track record of financial performance with industry leading profitability
- Focus on the social impact of the business
Company Strategy
- Continue to focus on low and middle income self-employed customers in rural and semi-urban markets
- Increase penetration in existing markets and expand branch network in large housing markets
- Continue to be an asset quality focused financier
- Reduce cost of borrowings by diversifying sources of borrowing and improving credit rating
Proceeds from fresth issue of Aptus Value IPO will be used to:
- Fully augmenting the tier I capital requirements of the Company
- Meet offfer-related expenses in relation to the Fresh Issue
Aptus Value IPO: Financials
| 2019 | 2020 | 2021 | |
|---|---|---|---|
| Revenue from Ops | ₹323.85 Cr | ₹500.33 Cr | ₹636.62 Cr |
| Profit before Excep* | ₹152.71 Cr | ₹247.29 Cr | ₹345.09 Cr |
| Profit after Tax | ₹111.48 Cr | ₹211.01 Cr | ₹266.94 Cr |
| EPS (Basic) | 2.83 | 4.77 | 5.56 |
| As of March 2020 | EPS (Avg*) | P/E (Floor) | P/E (Cap) |
|---|---|---|---|
| Based on basic EPS | 4.84 | 71.49 | 72.43 |
Aptus Value IPO: Comparison with listed industry peers
| Company | P/E (Cap) |
|---|---|
| Aptus Value | 72.43 |
| Highest (Aaavas Financiers) | 67.44 |
| Lowest ( Aaavas Financiers) | 67.44 |
| Sector Avg | 67.44 |
Aptus Value IPO Dashboard
Issue Details
| Type | Value |
|---|---|
| Issue Size | ₹2,780.05 Cr |
| Fresh Issue | ₹500.00 Cr |
| Offer for Sale | ₹2,280.05 Cr |
| Face Value | ₹2/- per Equity Share |
| IPO Price | ₹346 – ₹353 |
| Lot Size | 42 shares |
| Lots | Min 1 – Max 13 |
Key Dates
| Date Type | Date |
|---|---|
| Bid Open | 10/08/2021 |
| Bid Close | 12/08/2021 |
| Allotment Finalization | 18/08/2021 |
| Initiation of Refunds | 20/08/2021 |
| Credit of Shares | 23/08/2021 |
| Listing Date | 24/08/2021 |
Lot Size and Price
| Lots | Shares | Amount |
|---|---|---|
| 1 | 42 | ₹14,826 |
| 13 | 546 | ₹1,92,738 |
Promoter Holding
| Holding | Percentage |
|---|---|
| Pre-Issue | 74.87 % |
| Post-Issue | 72.23 % |
Aptus Value IPO: Investor Quota and Shares Offered
| Investor Type | Quota | Shares on Offer |
|---|---|---|
| QIB | 50% | [●] shares |
| NII | 15% | [●] shares |
| RII (Retail) | 35% | [●] shares |
| Total | 100% | [●] shares |
Aptus Value IPO: Risks
- They require substantial capital for running the business and any disruption in sources of capital could have an adverse effect
- National Housing Bank’s (NHB) consent to undertake the Offer is subject to certain conditions.
- The risk of non-payment or default by borrowers may adversely affect the business
- Company’s inability to meet obligations, including financial and other covenants under the debt financing
arrangements could adversely affect the business - A substantial portion of its customers are first-time borrowers which increase risks of non-payment or default for us.
For complete internal and external risk factors, you can refer to the RHP of the company.
Aptus Value IPO: Registrar and Lead Managers
Registrar of the Issue
KFintech (Formerly Karvy)
Selenium Tower B, Plot 31 & 32,
Financial District, Nanakramguda, Serilingampally Mandal, Hyderabad, Telangana India – 500 032.
Phone: 1-800-309-4001
Email: [email protected]
Lead Managers of the Issue
ICICI Securities Limited
Citigroup Global Markets India Private Limited
Kotak Mahindra Capital Company Limited
Edelweiss Financial Services Limited
Phone: +91 22 2288 2460 / 70
Email: [email protected]
