This housing finance company plans Rs 3,000 cr IPO, files DRHP

New Delhi: Despite the fierce second wave of corona, the stock market has not been impacted much in the country. Probably intending to take advantage of this, Aptus Value Housing Finance is planning to come out with its IPO and has filed draft red herring prospectus with markets regulator SEBI. The company is looking at raising Rs 2,600-3,000 crore.

The process will see fresh issue of equity shares totaling Rs 500 crore. There will be an offer for sale of up to 64,590,695 equity shares by promoter, promoter group and other shareholders, according to data accessed from SEBI.

The company has about 60 percent of its customers in rural and semi-urban areas. It gives out home loans for buying and self construction of homes, home improvement and even loans against property. It also offers business loans to mainly first time home buyers. The usual size of its loans is Rs 5-15 lakh and the usual tenure of the loans is 8.5-12.5 years.

The company's AUM stood at around Rs 3,791 crore as on 31 December 2020. Of this, around 73 percent were given as loans to the self employed professionals and the rest of 27 percent was disbursed to salaried individuals.

The company started its operations in Tamil Nadu and then expanded to others states in southern India. The comonay is planning to expand its services in Odisha, Maharashtra, Odisha and Chhattisgarh.