Aavas Financiers IPO allotment status: We can check the basic allotment on or about October 3 2018. This ipo also was not subscribed as company has thinked, so we have full chance to get allotment if we applied for it. While listing will be done on October 8 2018.
Jaipur’s housing finance company, Aavas Financiers is going to raise Rs 1,734 crore via IPO. The company’s was opened its ipo for subscription from September 25 to September 27. For that, the company has set a price band of Rs 818-821.
The company has issue a fresh share of Rs 400 crore in this IPO. The existing shareholder of the company has presented its shares worth Rs 1,334 crore for sale. In the last few years, this housing finance company has accumulated its stake without compromising asset quality.
Basic Allotment Date: 3 October
Refunds Date: 4 October
Banking SMS Time: 2 PM
Website Update Time: 8 PM
Listing Date: 8 October
Check Allotment Here : Click Here
The company has 186 branches in 92 districts of eight states. The company wants to move its number across 300 in the next three years, spreading its legs.
The company’s headquarter is in Jaipur (Rajasthan). Apart from Rajasthan, the company is active in Gujarat, Maharashtra, Haryana, Madhya Pradesh, Uttarakhand and National Capital Region. The company’s asset quality is superb. But, on the basis of valuation some analysts are saying it expensive.
The company used to be a partner of Au Small Finance Bank. Now promoters of housing are private equity companies – Kedar Capital and Partners Group. The company offers residential loans in small towns, whose average size is up to Rs 8 lakhs.
The company is demanding a valuation of 4.1 times on a price-to-book basis, which is more than its competitors. IPO valuation is quite aggressive. The regional dependency and current market conditions make it expensive. However, investors with long-term investment and more risk capacity can play bets on this.
Aavas Financiers IPO Details
|Subscription Dates||25-27 Sept 2018|
|Issue Price Band||Rs. 818 – 821|
|Minimum bid (lot size)||18 Shares|
|Minimum bid Price||Rs 14,778|
|Face Value||INR 10 per share|
|IPO Size||INR 1734 Cr|
|Issue Type||Book Built Issue IPO|
|Listing At||BSE, NSE|