IPO watch. IPO screener: Aptus Value, Chemplast Sanmar issues close today

Today is the last day for subscription of Aptus Value Housing Finance and Chemplast Sanmar.

The ₹2,780-crore Aptus Value Housing Finance India was subscribed 37 per cent at the end of the second day of issue opening. The price band for the offer is at ₹346–353 a share of face value ₹2 each. The market lot is 42 shares.

The offer comprises of a fresh issuance of equity shares, aggregating up to ₹500 crore and an offer for sale of equity shares aggregating up to 6,45,90,695 shares by the selling shareholders. The net proceeds from the offer will be utilised towards augmenting the Company’s tier 1 capital requirements.

Retail individual investors (RIIs) category was subscribed 0.54 time, while non-institutional investors received bids for just 0.06 time and Qualified Institutional Buyers (QIBs) by 0.33 time or 33 per cent.

Anchor investors

Aptus Value Housing Finance India, one of the largest housing finance companies in South India in terms of asset under management and having the largest branch network in South India among the peer set, has raised ₹834 crore from 21 anchor investors. The company informed the bourses that it has allocated 2,36,26,500 shares at ₹353 a share on Monday to anchor investors.

Twelve FPIs, including Capital Research, Genesis, Neuberger Berman, Nomura, Universities Superannuation Scheme (USS), Steadview, Ward Ferry and Aberdeen, were allocated shares worth ₹710.10 crore; nine domestic investors (including three mutual funds, five AIFs and one life insurance company) were allocated a total of 35,10,558 shares for approximately ₹123.9 crore.

The net proceeds from the offer will be utilised towards augmenting the Company’s tier 1 capital requirements.

The ₹3,850-crore Chemplast Sanmar IPO, with a price band at ₹530-541 a share, was subscribed 26 per cent on the second day. Market lot is 27 shares. The IPO comprises a fresh issue of ₹1,300 crore by the company, and an offer for sale of ₹2,463.4 crore by promoters, Sanmar Holdings and Sanmar Engineering Services.

Retail individual investors (RIIs) category was subscribed 1.29 times, while non-institutional investors’ portion received bids for 0.06 time; QIBs have so far bid just 0.02 time.

Anchor investors

The company on Monday raised ₹1,732.5 crore from anchor investors by allotting 3.20 crore shares at ₹541 a share, it said in its BSE filing. Marquee investors which participated in the anchor book were Abu Dhabi Investment Authority, Amundi Funds, Government Pension Fund Global, Best Investment, Corporation, Jupiter India Fund, Neptune Investment, Volrado Venture, Kuber India Fund, CLSA, Public Sector Pension Investment Board, Segantii India Mauritius, Copthall Mauritius, Moon Capital, Goldman Sachs, Tara Emerging Asia, Nomura, and Societe Generale.

Domestic investors including SBI Mutual Fund, Axis Mutual Fund, Mirae Asset, ICICI Prudential, HDFC Life Insurance, HDFC Trustee, Nippon Life, Franklin India, Aditya Birla Sun Life, Sundaram Mutual Fund, IDFC, JM Financial, IIFL Special Opportunities Fund, and Edelweiss also invested in the company.

The net proceeds from the fresh issue will be utilised for early redemption of non-convertible debentures (₹1,238.25 crore), besides general corporate purposes.

About Chemplast

Chemplast is a specialty chemicals manufacturer in India with a focus on specialty paste PVC (polyvinyl chloride) resin and custom manufacturing of starting materials and intermediates for pharmaceutical, agro-chemical and fine chemicals sectors. It is one of the leading manufacturers of specialty paste PVC resin in India on the basis of installed production capacity, as of December 2020.

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