Delhi | Mumbai, IndiaCyril Amarchand Mangaldas advised Aptus Value Housing Finance India Limited (Aptus) and the individual promoter selling shareholder in relation to the Initial Public Offering (IPO) of INR 2780 crore offer comprising of issue of fresh equity aggregating to INR 500 crore and Offer For Sale (OFS) aggregating to INR 2280 crores. The IPO was the second largest IPO ever by a housing finance company in India.
The Capital Markets team of Cyril Amarchand Mangaldas advised on the IPO. The deal Team was led by Reuben Chacko, Partner; with support from Rohit Tiwari, Principal Associate; Akshay Singh Ralhi, Senior Associate – Designate; Shrikrishna Upadhyaya, Associate; and Pragya Gupta, Associate.
As a part of the IPO, Aptus raised INR 2,780.052 crores through and IPO of 78,755,000 equity shares of face value of INR 2 each, for cash at a price of INR 353 per Equity Share (including a share premium of INR 351 per Equity Share). It comprised of a fresh issue of 14,164,305 equity shares aggregating to INR 500 crore, and an OFS of 64,590,695 equity shares aggregating to INR 2,280.52 crores together by one of the individual promoters, namely, Mrs. Padma Anandan; certain WestBridge Capital funds; and certain other investors and individual selling shareholders, including Granite Hill and Madison India.
Other parties involved in the Transaction included:
ICICI Securities Limited (Acted as Book Running Lead Manager (BRLM) to the Issue)
Citigroup Global Markets India Private Limited (Acted as BRLM to the Issue)
Edelweiss Financial Services Limited (Acted as BRLM to the Issue)
Kotak Mahindra Capital Company (Acted as BRLM to the Issue)
The Transaction was signed on February 12, 2021 and was closed on August 24, 2021.