The initial public offering (IPO) of Aptus Value Housing Finance company has been subscribed 17.20 times on August 12, the third and final day of bidding. The offer has received bids for 54.37 crore equity shares against the IPO size of 5.51 crore equity shares.
Retail investors subscribed 1.35 times to the IPO, and non-institutional subscribers put in bids 33.91 times against their reserved portion. Qualified institutional buyers subscribed 32.41 times their reserved portion.
While the company has set aside 50 percent of the issue for qualified institutional buyers (QIB), 35 percent is for retail investors. A quota of 15 percent is kept for non-institutional investors.
The company plans to use proceeds from the issue to augment its capital base to meet future requirements.
The price band for the offer, which closes today is Rs 2,234-2,280. Brokerages have recommended 'buy' for the IPO given the company's strong growth prospects and industry-leading return ratios.
Aptus has posted strong growth in both net interest income (NII) and net profits of 46.2 percent and 54.7 percent respectively between FY19-21. "Despite the COVID-19 crisis, the company's asset quality has remained largely stable with GNPA and NNPA largely stable at 0.6 percent and 0.5 percent, respectively at the end of FY2021," Angel One broking house said.
(As per subscription data available on exchanges till 17:00 pm)
First Published: Aug 12, 2021 12:01 PM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Stampede-like situation disrupts Rahul Gandhi, Akhilesh Yadav's joint rally in Uttar Pradesh
May 19, 2024 4:26 PM
Ladakh Lok Sabha election: With Independent candidate's entry, it's now a 3-way contest for BJP and Congress
May 19, 2024 4:01 PM