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Aptus Value Housing Finance raises Rs.834-Cr from anchor investors

Mint  

Chennai-based Aptus Value Housing Finance India Ltd has raised INR 834 crore from anchor investors ahead of an IPO that opens for subscription on Tuesday and closes on Thursday. WF Asian Reconnaissance Fund, Neuberger Berman, Aberdeen Global, Steadview Capital, Copthall Mauritius, SmallCap World Fund, The Genesis Group, Nomura, Edelweiss Trusteeship, Axis Mutual Fund (MF), are among the anchor investors. The company has decided to allocate 23.63 million equity shares to anchor investors at INR 353 apiece, valuing the transaction size at INR 834.02 crore. Of these, about 1.95 million equity shares (8.27% of total anchor book) have been allocated to 3 mutual funds which have applied through a total of 7 schemes. The price band for the offer is at INR 346-353 per equity share. The offer comprises a fresh issuance of equity shares, aggregating up to INR 500 crore, and an offer for sale of equity shares aggregating up to 64.59 million equity shares by the selling shareholders. The net proceeds from the offer will be used towards augmenting the company's tier 1 capital requirements.