Aavas Financiers IPO
Aavas Financiers IPO — date, price band, lot size & details 2018
Aavas Financiers listed on 8 Oct 2018 at ₹750, 8.6% below the ₹821 issue price.
Aavas Financiers is a Jaipur based affordable housing finance company lending to low and middle income self employed customers in semi urban and rural India. Its total income was Rs 457.25 crore in FY2018.
Stock price
Aavas Financiers is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 14 November.
- Open 25 Sep 2018
- Close 27 Sep 2018
- Allotment 03 Oct 2018
- Refund/credit 04 Oct 2018
- Listing 08 Oct 2018
Issue summary
The terms of the offer, as filed.
| IPO Dates | 25 to 27 Sep, 2018 |
|---|---|
| Price Band | ₹818 – ₹821 |
| Face Value | ₹10 |
| Lot Size | 18 Shares |
| Issue Size | ₹1640.32 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,778 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 18 shares at the ₹821 cut-off. Drag to size your application.
| 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 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Total income rose from Rs 305.49 crore in FY2017 to Rs 457.25 crore in FY2018.
- 02Profit after tax rose from Rs 57.14 crore in FY2017 to Rs 92.93 crore in FY2018.
- 03It had the lowest gross NPAs among peers as of 31 March 2018, per ICRA.
- 04Net worth rose from Rs 566.33 crore in FY2018 to Rs 1,098.47 crore on 30 June 2018.
Risks · 5
- 01Total borrowing rose from Rs 1,446.77 crore in FY2017 to Rs 2,595.78 crore on 30 June 2018.
- 02Loans to self employed borrowers in rural areas can carry higher credit risk; total assets were Rs 4,010.15 crore.
- 03Housing finance companies face funding cost and interest rate risk; profit was Rs 29.00 crore in the June 2018 quarter.
- 04Rs 1,280.32 crore of the Rs 1,640.32 crore issue went to selling shareholders.
- 05Promoter holding fell from 81.26% before the issue to 58.29% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Aavas Financiers offer document.
| Metric | 30 Jun 2018 | 31 Mar 2018 | 31 Mar 2017 |
|---|---|---|---|
| Assets | 4,010.15 | 3,817.45 | 2,450.67 |
| Total Income | 143.87 | 457.25 | 305.49 |
| Profit After Tax | 29.00 | 92.93 | 57.14 |
| NET Worth | 1,098.47 | 566.33 | 203.82 |
| Reserves and Surplus | 1,106.94 | 1,029.06 | 508.16 |
| Total Borrowing | 2,595.78 | 1,793.39 | 1,446.77 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Where the money goes
₹352.88 Cr of the issue is earmarked to named objects.
Aavas Financiers IPO Anchor Investors
60 anchor investors across 23 fund houses committed ₹520.25 Cr a day before the issue opened.
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
It provides retail, affordable housing finance to low and middle income self employed customers in semi urban and rural areas of India.
According to an ICRA report, it had the lowest gross NPAs among peers as of 31 March 2018.
The IPO was Rs 1,640.32 crore, with Rs 360.00 crore of fresh issue and Rs 1,280.32 crore of offer for sale, at Rs 821, the top of the Rs 818 to Rs 821 band. The fresh money was to raise its Tier I capital.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Aavas Financiers IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
ICICI Securities
221 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Bannari Amman Spinning Mills (-25.2%).
HDFC Bank Limited
34 issues handledBest listing: G R Infraprojects (+105.0%). Weakest: Precision Camshafts (-11.3%).
Citigroup Global Markets India Pvt. Ltd
74 issues handledBest listing: Tata Technologies (+140.0%). Weakest: Puravankara Projects (-22.5%).
Edelweiss Financial Services Ltd
73 issues handledBest listing: Route Mobile (+104.9%). Weakest: ICICI Securities (-16.3%).
Spark Capital Advisors (India) Pvt. Ltd
2 issues handled2 of their issues have listed so far, and 2 opened above the issue price (average +35%). That is too small a sample to read as a hit rate.
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Aavas Financiers?
The current Grey Market Premium is ₹7.5, or 1% over the issue price.
What is the Aavas Financiers IPO price band?
₹818 to ₹821, on a face value of ₹10.
When is the allotment?
The basis of allotment is 3 October 2018, with listing on 8 October 2018.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
