Aavas Financiers Limited IPO (Aavas Financiers IPO) Detail

Aavas Financiers Limited

Aavas Financiers Limited IPO (Aavas Financiers IPO) Detail

ABOUT THE COMPANY:

Aavas Financiers Limited, earlier known as AU Housing Finance, Incorporated in 2011,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.Aavas Financiers Limited offers customers home loans for the purchase or construction of residential properties, and for the extension and repair of existing housing units.the name of the Company was changed from ‘AU Housing Finance Limited’ to ‘Aavas Financiers Limited’ in March 2017.

In addition to home loans, Company also offers mortgage loans including loans against property, which accounted for 22.44% of their Gross Loan Assets as of March 31, 2018.

Company is registered with the NHB  (National Housing Bank) as an HFC (Housing Finance Company) and commenced operations in Jaipur, Rajasthan in March 2012.

As of 31 March 2018, 60.40% of its Gross Loan Assets were from customers who belonged to the economically weaker section and low income group, earning less than ₹ 50,000 per month and 34.76% of its Gross Loan Assets were from customers who were new to credit. The average sanctioned amount of its home loans and other mortgage loans was ₹ 0.88 million and ₹ 0.80 million, respectively.

Aavas Financiers Limited has adopted a strategy of contiguous on-ground expansion across regions and conducted operations through 165 branches spread across 92 districts in eight states as of 31 March 2018, with significant presence in the four states of Rajasthan, Gujarat, Maharashtra and Madhya Pradesh. As of 31 March 2018, it employed 1,862 personnel and had 52,788 loan accounts including securitized and assigned cases.

-Employs 1,862 personnel in its operations.

Positives of Aavas Financiers Limited:

(1)Strong Distribution Network with Deep Penetration Serving Underserved Customers in Rural and Semi-Urban Markets.

(2)Expansion of Branch Network:

 

Promoters of Aavas Financiers Limited:

(1) Lake District Holdings Limited and

(2)Partners Group ESCL Limited

They currently hold 35,261,756 Equity Shares, equivalent to 49.84% and 17,127,627 Equity Shares equivalent to 24.21% of the pre-Offer issued, subscribed and paid-up Equity Share capital of the Company.

Aavas Financiers Limited  financial performance (in INR crore):

 

(in Crores) FY 14 FY 15 FY 16 FY 17 FY 18
Revenue 54.32 103.75 190.89 305.49 457.27
Net Profit 6.3 19.0 32.78 57.13 92.8

 

Objects of Aavas Financiers Limited  IPO:

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.

Valuation of Aavas Financiers (FY2018):

Earnings Per Share (EPS): INR15.21

Price/Earnings (P/E) ratio: 53.78 – 53.98

Return on Net Worth (RONW): 8.46%

Net Asset Value (NAV): INR157.03 per share

Aavas Financiers Limited  IPO Details:

Details Info
Issue Opens on 25th September 2018
Issue Closes on:. 27th September 2018
Issue Price Rs.818 – 821
Face Value Rs.10
Minimum Lot 18 Shares
Minimum Investment Rs.14,778
Issue Constitutes 27.92%
Issue Size Rs.1734 cr
Market Cap Rs. 6,208 cr
Listing at NSE & BSE
Equity Shares Offered (OFS) 1,62,49,359
Equity Shares Offered (Fresh) 48,72,107
Equity Shares Offered (OFS + Fresh) 2,11,21,466
Equity Shares Prior to the Issue 7,07,50,891
Equity Shares after the Issue 7,56,22,998

 

 IPO Allotment Status: click below

Link Intime India Private Ltd

Company Contact Information:

Aavas Financiers Limited
201-202, 2nd Floor,
South End Square, Mansarover Industrial Area
Jaipur 302 020, Rajasthan,
Phone: +91 14 1661 8800
Fax: +91 14 1661 8861
Email: ipo@aavas.in
Website: http://www.aavas.in/

Aavas Financiers Limited IPO Registrar:

Link Intime India Private Ltd
Link Intime India Private Ltd,
C-13 Pannalal Silk Mills Compound,
LBS Marg, Bhandup West, Mumbai 400078

Phone: +91-22-25963838
Fax: +91-22-25946969
Email: aavas.ipo@linkintime.co.in
Website: http://www.linkintime.co.in

Aavas Financiers IPO Lead Manager(s):

  1. Citigroup Global Markets India Private Limited
  2. Edelweiss Capital Limited
  3. HDFC Bank Limited
  4. ICICI Securities Limited
  5. Spark Capital Advisors (India) Private Limited

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