Housing Financer (Aavas Financiers), a home loan company has applied to market regulator SEBI for IPO. They are doing business of providing loan to low and middle income self employed customers in semi-urban and rural areas in India.
Aavas Financiers has set the date to launch its IPO on 25 September and will close on 27 September. Its price band is Rs 818 to 821 per equity share With a lot size of 18 shares, the company wants to raise Rs 1734 Crore through this public issue.
The minimum lot size has been set at 18 shares, which at the upper end of the price band accrues to Rs 14,778.
Through this IPO, the company will sell a fresh shares of 400 million shares, while selling 160 million shares of the current shareholder. From the IPO, the company’s shareholders’ private equity firm Kedaara Capital & Partners Group will get a chance to partially exit the company.
At present, Lake District has 49.84% stake, 24.21% of ESCL and 10.62% of Master Fund in housing financiers.
Kedaara Capital has a share of 69.11% in Lake District. About 88 lakh shares of Lake District and 42.8 lakh shares of ESCL will be sold through the IPO being brought by Housing Financers.
At present, the company is providing home loans in 8 states of Rajasthan, Maharashtra, Gujarat, Madhya Pradesh, Haryana, Uttar Pradesh, Chhattisgarh and Delhi through 165 branches. They have over 1800 employees in operations.
The avas Financiers shares will be listed on the NSE and BSE stock exchange as well.
Aavas Financiers IPO Review & Recommendation:
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|
Aavas Financiers IPO Financial Performance (in INR crore)
Aavas Financiers IPO Subscription Status
|Category||Day 1||Day 2||Day 3|
Aavas Financiers IPO Tentative Dates: Allotment & Listing Details:
- Bid/Offer Opens On: 25 Sept 2018
- Bid/Offer Closes On: 27 Sept 2018
- Basis of Allotment: On or about: 3 Oct 2018
- Refunds Status: On or about: 4 Oct 2018
- Credit of Equity Shares to demat accounts: On or about: 5 Oct 2018
- Listing Date: On or about: 8 Oct 2018
Objects of the Issue:
- The Offer comprises a Fresh Issue by the Company and an Offer for Sale by the Shareholders.
- The proceeds of the Offer for Sale will go to selling shareholders after deducting their portion of the Offer related expenses and relevant taxes thereon. The company will not receive anything from the proceeds of the offer for sale.
- The Net Proceeds of the Fresh Issue will be utilized towards augmenting the company’s capital base to meet the future capital requirements arising out of growth in the business.
Aavas Financiers IPO Prospectus:
- DRHP Draft Prospectus
- Red Herring Prospectus
Aavas Financiers IPO Lead Managers:
- Citigroup Global Markets India Private Limited
- Edelweiss Capital Limited
- DFC Bank Limited
- ICICI Securities Limited
- Spark Capital Advisors (India) Private Limited
Aavas Financiers IPO Promoters:
- Lake District Holdings Limited
- Partners Group ESCL Limited
Company Contact Information:
Aavas Financiers Limited
201-202, 2nd Floor, South End Square
Mansarover Industrial Area
Jaipur 302 020
Phone: +91 141 6618 800
Fax: +91 141 6618 861
Email: [email protected]
Aavas Financiers IPO Registrar:
Link Intime India Private Limited
Phone: +91 22 4918 6200
Fax: +91 22 4918 6195
Email: [email protected]
Note: Check Aavas Financiers ipo allotment status on Linkintime website allotment url. Click Here