Aavas Financiers' IPO subscribed 0.03 times

BL Internet Desk | Updated on September 26, 2018 Published on September 26, 2018

The initial public offer of housing finance company Aavas Financiers was subscribed 0.03 times so far on the second day of bidding today.

The IPO to raise ₹ 1,734 crore received bids for 4,36,320 shares against the total issue size of 1,47,85,027 shares, data available with the NSE showed.

The portion set aside for qualified institutional buyers was subscribed 0.09 times and retail investors 0.01 time.

The IPO comprises fresh issue of up to ₹ 400 crore and an offer for sale of up to 1,62,49,359 equity shares, including anchor portion of 63,36,439 equity shares. Price band for the offer has been set at ₹ 818-821 per share.

Aavas Financiers had on Monday raised ₹ 520 crore from anchor investors. ICICI Securities Ltd, Citigroup Global Markets India Private Ltd, Edelweiss Financial Services Ltd, Spark Capital Advisors (India) Private Ltd and HDFC Bank Ltd are managing the issue.

The shares of the company will be listed on the BSE and NSE. Aavas Financiers offers housing loans to customers from low and middle income segments in semi-urban and rural areas.

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Published on September 26, 2018
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