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Aavas Financiers IPO is a book built issue of Rs 1,734.07 crores. The issue comprises of fresh issue of Rs 400.00 crore and offer for sale of 1.62 crore shares.
Aavas Financiers IPO bidding started from September 25, 2018 and ended on September 27, 2018. The allotment for Aavas Financiers IPO was finalized on Wednesday, October 3, 2018. The shares got listed on BSE, NSE on October 8, 2018.
Aavas Financiers IPO price band is set at ₹818 to ₹821 per share. The minimum lot size for an application is 18 Shares. The minimum amount of investment required by retail investors is ₹14,778.
Citigroup Global Markets India Private Limited, Edelweiss Financial Services Ltd, Hdfc Bank Limited, ICICI Securities Limited and Spark Capital Advisors (India) Private Limited are the book running lead managers of the Aavas Financiers IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Aavas Financiers IPO RHP for detailed information.
IPO Date | September 25, 2018 to September 27, 2018 |
Listing Date | October 8, 2018 |
Face Value | ₹10 per share |
Price Band | ₹818 to ₹821 per share |
Lot Size | 18 Shares |
Total Issue Size | 21,121,437 shares (aggregating up to ₹1,734.07 Cr) |
Fresh Issue | [.] shares (aggregating up to ₹400.00 Cr) |
Offer for Sale | 16,249,359 shares of ₹10 (aggregating up to ₹[.] Cr) |
Issue Type | Book Built Issue IPO |
Listing At | BSE, NSE |
Share holding pre issue | 73,723,004 |
Share holding post issue | 78,201,462 |
Aavas Financiers IPO offers 14,785,027 shares. 4,224,293 (28.57%) to QIB, 3,168,220 (21.43%) to NII, 7,392,514 (50.00%) to RII. 410,695 RIIs will receive minimum 18 shares and (sNII) and (bNII) will receive minimum 252 shares. (in case of oversubscription)
Investor Category | Shares Offered | Maximum Allottees |
---|---|---|
Anchor Investor Shares Offered | - | NA |
QIB Shares Offered | 4,224,293 (28.57%) | NA |
NII (HNI) Shares Offered | 3,168,220 (21.43%) | |
Retail Shares Offered | 7,392,514 (50.00%) | 410,695 |
Total Shares Offered | 14,785,027 (100%) |
Aavas Financiers IPO opens on September 25, 2018, and closes on September 27, 2018.
IPO Open Date | Tuesday, September 25, 2018 |
IPO Close Date | Thursday, September 27, 2018 |
Basis of Allotment | Wednesday, October 3, 2018 |
Initiation of Refunds | Thursday, October 4, 2018 |
Credit of Shares to Demat | Friday, October 5, 2018 |
Listing Date | Monday, October 8, 2018 |
Cut-off time for UPI mandate confirmation | 5 PM on September 27, 2018 |
Investors can bid for a minimum of 18 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
Application | Lots | Shares | Amount |
---|---|---|---|
Retail (Min) | 1 | 18 | ₹14,778 |
Retail (Max) | 13 | 234 | ₹192,114 |
Lot Size Calculator |
Incorporated in 2011, Jaipur based Aavas Financiers Limited is a company engaged in the business of providing retail, affordable housing finance to low and middle income self employed customers in semi-urban and rural areas in India. The Company is registered with the NHB as an HFC.
As per an ICRA Report, Aavas Financiers had the lowest GNPAs as of March 31, 2018 and the second highest growth rate of AUM for the last three financial years, among affordable housing finance companies with AUM between Rs 25 billion and Rs 200 billion.
The company offers home loans to its customersfor the purchase or construction of residential properties, and for the extension and repair of existing homes. In addition to home loans, it offers other mortgage loans including loans against property.
As of March 31, 2018-
-Mortgage loans including loans against property accounted for 22.44% of the company's Gross Loan Assets.
-60.40% of the Gross Loan Assets were from customers with earning less than Rs 50,000 per month.
-34.76% of the Gross Loan Assets were from customers who were new to credit.
-63.81% of Gross Loan Assets were from self-employed customers.
-Served over 57,000 customers since the commencement of its operations.
-A network of 165 branches spread across 92 districts in eight states. It has a significant presence in Rajasthan, Gujarat, Maharashtra, and Madhya Pradesh.
-Employs 1,862 personnel in its operations.
Competitive Strengths-
1. Deep penetration in underserved rural and semi-urban markets
2. In-house customer sourcing models ensure optimal pricing and good asset quality
3. Robust Credit Assessment, Risk Management, and Collections Framework
4. Access to cost-effective long-term financing
5. Higher cost and management efficiencies owing to the adoption of technology and analytics
Particulars | For the year/period ended (in Rs. Millions) | ||||
---|---|---|---|---|---|
31-Mar-18 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | |
Total Assets | 38,174.52 | 24,506.06 | 17,107.79 | 8,523.83 | 4,179.23 |
Total Revenue | 4,572.45 | 3,054.92 | 1,908.99 | 1,037.55 | 543.22 |
Profit After Tax | 929.33 | 571.37 | 327.80 | 190.81 | 63.37 |
Particulars | For the year/period ended (in Rs. Millions) |
---|---|
31-Mar-18 | |
Total Assets | 38,174.01 |
Total Revenue | 4,572.71 |
Profit After Tax | 928.75 |
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.
[Dilip Davda] Well, on prima-facie issue appears aggressively priced, but considering its unique business model and hugely untapped markets for such type of rural home loan financing, company holds bright prospects ahead. It can be considered as a High Risk-High Yield bet. Investors may consider it for long term investment. Read detail review...
The Aavas Financiers IPO is subscribed 0.97 times on September 27, 2018 6:30:01 PM. The public issue subscribed 0.25 times in the retail category, 2.77 times in the QIB category, and 0.26 times in the NII category. Check Day by Day Subscription Details (Live Status)
Category | Subscription (times) |
---|---|
QIB | 2.77 |
NII | 0.26 |
Retail | 0.25 |
Total | 0.97 |
Listing Date | October 8, 2018 |
BSE Script Code | 541988 |
NSE Symbol | AAVAS |
ISIN | INE216P01012 |
Final Issue Price | ₹821 per share |
Price Details |
---|
Final Issue Price |
Open |
Low |
High |
Last Trade |
BSE |
---|
₹821.00 |
₹758.00 |
₹710.00 |
₹787.50 |
₹773.15 |
NSE |
---|
₹821.00 |
₹750.00 |
₹710.05 |
₹787.00 |
₹774.35 |
Aavas Financiers Limited
201-202, 2nd Floor,
South End Square, Mansarover Industrial Area
Jaipur 302 020, Rajasthan,
Phone: +91 14 1661 8800
Email: ipo@aavas.in
Website: http://www.aavas.in/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: aavas.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Lead Manager Reports
Aavas Financiers IPO is a main-board IPO of 21,121,437 equity shares of the face value of ₹10 aggregating up to ₹1,734.07 Crores. The issue is priced at ₹818 to ₹821 per share. The minimum order quantity is 18 Shares.
The IPO opens on September 25, 2018, and closes on September 27, 2018.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
The Aavas Financiers IPO opens on September 25, 2018 and closes on September 27, 2018.
Aavas Financiers IPO lot size is 18 Shares, and the minimum amount required is ₹14,778.
You can apply in Aavas Financiers IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Aavas Financiers IPO will be done on Wednesday, October 3, 2018, and the allotted shares will be credited to your demat account by Friday, October 5, 2018. Check the Aavas Financiers IPO allotment status.
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