Shares of two Chennai-based firms Aptus Value Housing Finance and Chemplast Sanmar will be listed on the bourses on Tuesday.
Aptus Value Housing Finance’s initial public offering (IPO) was subscribed 17.2 times, as investors’ interest picked up pace on the last day of the subscription. The company has fixed the IPO price at ₹353 a share.
The retail-focussed housing finance company, Aptus, received bids for 94.82 crore equity shares against an IPO size of 5.51 crore equity shares. The company was looking to raise ₹2,780 crore from the primary market. The IPO included a fresh issue of ₹500 crore and an offer for sale (OFS) up to 6.5 crore equity shares by selling shareholders.
The price band for the offer was fixed at ₹346 to ₹353 per share.
The qualified institutional buyer category was subscribed 32.41 times while the non-institutional investor category was subscribed 33.91 times. The portion reserved for retail investors was subscribed just 1.35 times.
Retail-focussed housing finance company Aptus Value Housing Finance India had raised ₹834 crore from 21 anchor investors ahead of its initial share sale.
In a press release, the Chennai-based mortgage lender said it has allocated 2,36,26,500 shares at ₹353 per share aggregating to ₹834 crore to the anchor investors.
Chemplast Sanmar
On the other hand, Chemplast Sanmar, a specialty chemical manufacturer managed subscription of little over two times. The company has fixed the IPO price at ₹541, the upper end of the price band ₹530-541.
Chemplast Sanmar's QIB portion and Retail portion got oversubscribed by 2.70 times and 2.29 times respectively. Overall the IPO issue received 2.10 times subscription. IPO issue received 1.27 times and 0.90 times subscription on BSE and NSE respectively.
The company raised ₹3,850 crore through the IPO, which comprised a fresh issue aggregating up to ₹1,300 crore and an offer for sale up to ₹2,550 crore. The fresh issue will be used to redeem entire non-convertible debentures.
The company had allocated 3,20,24,029 equity shares to 78 anchor investors and raised ₹1,732.50 crore ahead of the IPO at the upper price band of ₹541 per equity share.