Aptus Value Housing Finance IPO to open on Aug 10

Aptus Value Housing Finance on Thursday said it has fixed a price band of Rs 346-353 a share for its Rs 2,780-crore initial public offering. The initial share-sale will be open for public subscription on August 10, and conclude on August 12, the company said.

The initial public offering (IPO) comprises fresh issue of equity shares aggregating to Rs 500 crore and an offer-for-sale of up to 64,590,695 equity shares by promoter and existing shareholders. At the upper end of the price band, the IPO is expected to fetch Rs 2,780 crore. The net proceeds from the fresh issue will be utilized towards augmenting the company's tier-1 capital requirements. Aptus Value Housing Finance has a strong capital sponsorship by marquee investors like Westbridge, Malabar Investments, Sequoia Capital, Steadview Capital and Madison India.