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Aavas Financiers IPO is a book build issue of ₹1,640.32 crores. The issue is a combination of fresh issue of 0.44 crore shares aggregating to ₹360.00 crores and offer for sale of 1.56 crore shares aggregating to ₹1,280.32 crores.
Aavas Financiers IPO bidding started from Sep 25, 2018 and ended on Sep 27, 2018. The allotment for Aavas Financiers IPO was finalized on Oct 3, 2018. The shares got listed on BSE, NSE on Oct 8, 2018.
Aavas Financiers IPO price band is set at ₹821.00 per share . The lot size for an application is 18. The minimum amount of investment required by an retail is ₹14,724 (18 shares). The lot size investment for sNII is 14 lots (252 shares), amounting to ₹2,06,892, and for bNII, it is 68 lots (1,224 shares), amounting to ₹10,04,904.
Citigroup Global Markets India Pvt.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of 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 |
| Issue Price Band | ₹818 to ₹821 per share |
| Issue Price Final | ₹821 per share |
| Lot Size | 18 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 1,99,79,503 shares (aggregating up to ₹1,640.32 Cr) |
| Fresh Issue | 43,84,897 shares (aggregating up to ₹360.00 Cr) |
| Offer for Sale | 1,55,94,606 shares of ₹10 (aggregating up to ₹1,280.32 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 7,37,23,004 shares |
| Share Holding Post Issue | 7,82,01,462 shares |
Aavas Financiers IPO offers total 2,11,21,466 shares. Out of which 1,05,60,732 (50.00%) allocated to QIB, 42,24,293 (20.00%) allocated to QIB, 31,68,220 (15.00%) allocated to NII, 73,92,514 (35.00%) allocated to RII and 63,36,439 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 1,05,60,732 (50.00%) | NA |
| − Anchor Investor Shares Offered | 63,36,439 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 42,24,293 (20.00%) | NA |
| NII (HNI) Shares Offered | 31,68,220 (15.00%) | NA |
| Retail Shares Offered | 73,92,514 (35.00%) | 4,10,695 |
| Total Shares Offered | 2,11,21,466 (100.00%) |
Aavas Financiers IPO opens on September 25, 2018, and closes on September 27, 2018.
| IPO Open Date | Tue, Sep 25, 2018 |
| IPO Close Date | Thu, Sep 27, 2018 |
| Tentative Allotment | Wed, Oct 3, 2018 |
| Initiation of Refunds | Thu, Oct 4, 2018 |
| Credit of Shares to Demat | Fri, Oct 5, 2018 |
| Tentative Listing Date | Mon, Oct 8, 2018 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Sep 27, 2018 |
Investors can bid for a minimum of 18 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 18 | ₹14,778 |
| Retail (Max) | 13 | 234 | ₹1,92,114 |
| S-HNI (Min) | 14 | 252 | ₹2,06,892 |
| S-HNI (Max) | 67 | 1,206 | ₹9,90,126 |
| B-HNI (Min) | 68 | 1,224 | ₹10,04,904 |
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...
| Listing Date | October 8, 2018 |
| BSE Script Code | 541988 |
| NSE Symbol | AAVAS |
| ISIN | INE216P01012 |
| Final Issue Price | ₹821 per share |
Aavas Financiers Ltd.
201-202, 2nd Floor,
South End Square, Mansarover Industrial Area
Jaipur 302 020, Rajasthan,
Jaipur, Rajasthan
Phone: +91 14 1661 8800
Email: ipo@aavas.in
Website: http://www.aavas.in/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: aavas.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Aavas Financiers IPO is a main-board IPO of 1,99,79,503 equity shares of the face value of ₹10 aggregating up to ₹1,640.32 Crores. The issue is priced at ₹821 per share. The minimum order quantity is 18.
The IPO opens on September 25, 2018, and closes on September 27, 2018.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Aavas Financiers IPO using UPI as a payment gateway. Zerodha customers can apply in Aavas Financiers IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Aavas Financiers IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Aavas Financiers IPO opens on September 25, 2018 and closes on September 27, 2018.
Aavas Financiers IPO lot size is 18, and the minimum amount required for application is ₹14,778.
You can apply in Aavas Financiers IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, 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.
The Aavas Financiers IPO listing date is on Monday, October 8, 2018.
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