Housing finance firm Aptus Value Housing Finance India has made a disappointing debut on the bourses as its shares acquired listed at Rs 329.95, a 7 per cent low cost to its problem worth of Rs 353 on the BSE on Tuesday. On the National Stock Exchange (NSE), the inventory opened at Rs 333, 6 per cent beneath its problem worth.
At 10:02 am, the inventory was buying and selling at a reduction of two per cent to the problem worth at Rs 343.25 after hitting a excessive of Rs 344 in intra-day commerce put up itemizing on the BSE. In comparability, the S&P BSE Sensex was up 0.05 per cent at 55,581 factors. A mixed 14 million fairness shares had modified arms on the counter on the NSE and BSE up to now.
The preliminary public providing (IPO) of Aptus Value Housing Finance India had acquired a robust response from the buyers with the problem receiving 17.2 instances subscription. The non-institutional buyers and certified institutional patrons (QIBs) portion was subscribed by 33.91 instances and 32.41 instances, respectively, whereas the portion for retail particular person buyers was subscribed 1.35 instances, information reveals.
The firm proposes to utilise the online proceeds from the provide for augmenting fairness capital base to satisfy future capital necessities arising out of progress in enterprise.
Aptus Value Housing is a retail-focused housing finance firm that primarily serves low and middle-income self-employed prospects within the rural and semi-urban markets of India. As per a CRISIL report, it is without doubt one of the largest housing finance firms in South India by way of belongings underneath administration (AUM) of 37,909.31 million as of December 31, 2020.
The firm affords house loans to retail prospects to buy houses, assemble residential property, home enchancment and extension, loans towards property, and enterprise loans. The firm doesn’t present any loans to builders or for business actual property.
It usually targets first time house patrons the place the collateral is a self-occupied residential property. The firm doesn’t present any loans with a ticket dimension above Rs 25 lakh and the typical ticket dimension of house loans, loans towards property and enterprise loans on the premise of disbursement quantities was Rs 7.2 lakh, Rs 7.1 lakh and Rs 6.2 lakh as of FY21, respectively.
Going ahead, the brokerage agency Ventura Securities expects Aptus’ AUM to develop at a 29.7 per cent CAGR over FY21-24E whereas NII/working revenue/PAT is predicted to develop at a CAGR of twenty-two.5 per cent/ 24.1 per cent/ 23.5 per cent to Rs 790.9 crore / Rs 671.5 crore/ Rs 502.3 crore, respectively. We count on asset high quality to be roughly secure with FY24 GNPA and NNPA at 0.9 per cent & 0.7 per cent of mortgage e-book respectively, the brokerage agency stated in an IPO observe.