Home loan company Aptus Value Housing Finance Ltd IPO was subscribed 30 per cent on Wednesday, the second day of bidding.
According to MoneyControl, the company received 1.68 crore equity shares against an IPO size of 5.51 crore equity shares. The allocated portion for qualified institutional buyers was subscribed 28 per cent, while the portion for non-institutional investors saw only 1 per cent subscription. Retail investors subscribed to the reserved portions 44 times.
The IPO which opened on August 10 was subscribed 24% on the first day in which qualified institutional buyers subscribed 0.25 times, and non-institutional investors subscribed 0.01 times.
The price band for the 2.780 crores IPO was fixed at Rs 346-353. The IPO comprises a fresh issue of Rs 500 crore, and an offer for sale of up to 6.45 million equity shares by existing selling shareholders including promoter Padma Anandan, and investors Aravali Investment Holdings, JIH II LLC, GHIOF Mauritius, and Madison India Opportunities IV, MoneyControl reported.
Almost 50 per cent of the total offer has been reserved for qualified institutional buyers, while 35 per cent for retail investors, and 15 per cent for non-institutional investors.
Aptus Value Housing Finance Ltd offers home loans for self-employed low and middle-income families. The company does not offer loans to builders or commercial real estate. According to data by IPO Watch data, the shares of the trading company are currently trading at a premium of Rs 25.
