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Aavas Financiers Limited IPO (Aavas Financiers IPO) Detail

Sep 25, 2018 - Sep 27, 2018

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

Useful Articles

Company Promoters:

The Promoters of the Company are Lake District and ESCL. 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.

Company Financials:

Summary of financial Information (Restated Standalone)
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
Summary of financial Information (Restated Consolidated)
Particulars For the year/period ended (in Rs. Millions)
Total Assets 38,174.01
Total Revenue 4,572.71
Profit After Tax 928.75

Objects of the Issue:

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.

Aavas Financiers IPO Details
Issue OpenSep 25, 2018 - Sep 27, 2018
Issue TypeBook Built Issue IPO
Issue Size21,121,437 Eq Shares of Rs 10
(aggregating up to Rs 1,734.07 Cr)
Fresh Issue[.] Eq Shares of Rs 10
(aggregating up to Rs 400.00 Cr)
Offer for Sale16,249,359 Eq Shares of Rs 10
(aggregating up to Rs [.] Cr)
Face ValueRs 10 Per Equity Share
Issue PriceRs 818 - Rs 821 Per Equity Share
Market Lot18 Shares
Min Order Quantity18 Shares
Listing AtBSE, NSE
Aavas Financiers IPO Tentative Date / Timetable
Bid/Offer Opens OnSep 25, 2018
Bid/Offer Closes OnSep 27, 2018
Finalisation of Basis of AllotmentOct 3, 2018
Initiation of RefundsOct 4, 2018
Credit of Shares to Demat Acct:Oct 5, 2018
IPO Shares Listing Date:Oct 8, 2018

Aavas Financiers IPO Prospectus

Aavas Financiers IPO Rating

Rating:Rated 4.0 stars

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Aavas Financiers IPO Reviews / Ratings

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

Aavas Financiers IPO Registrar

Link Intime India Private Ltd   »  Report
   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

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Aavas Financiers IPO Review / Comments

130. N. Soni  Sep 24, 2018 13:45 I Like It. | Report Abuse Reply
129. N. Soni  Sep 24, 2018 13:22 I Like It. | Report Abuse Reply
128. your market  Sep 24, 2018 13:10 I Like It. | Report Abuse Reply
Analyzing any company on current speculative market never returns wealth in long term market. company shown result in since incorporation in 2011 and have gone through all market scenario and already debt listed for quiet sometimes as quoted on BSE through different NCD. Hope every person analyzing true sources should not be alleged as company's Agent...
127. 📞📞📞 IPO CALLING 📞📞📞  Sep 24, 2018 12:30 I Like It. | Report Abuse Reply
Hudco -6%...

Aavas ka Kaya hoga ...

Listing ke din think
126. 📞📞📞 IPO CALLING 📞📞📞  Sep 24, 2018 11:58 I Like It. 1 | Report Abuse Reply
Lt finance -7%

Edelweiss. -10% ..

Beware to apply aawas

126.1. SJ  Sep 24, 2018 12:12 I Like It. 1 | Report Abuse
IPO Mentor IPO Mentor (500+ Posts, 1200+ Likes)
Grameen -13%
CBI -18%

Bank Index -2%
Finance Index -3%
125. N. Soni  Sep 24, 2018 11:39 I Like It. | Report Abuse Reply
42-45 aavas.. Both side quote in Ahmedabad
124. 📞📞📞 IPO CALLING 📞📞📞  Sep 23, 2018 22:46 I Like It. 2 | Report Abuse Reply
Only seller @ 11
124.1. BOSS IS COMING  Sep 24, 2018 10:58 I Like It. | Report Abuse
Aavas premium. 111
123. 📞📞📞 IPO CALLING 📞📞📞  Sep 24, 2018 10:23 I Like It. 1 | Report Abuse Reply
Bajaj finance -6%
Indiabull housing. -4%
Guru finance. -5%

Decide apply or not aavas
123.1. BOSS IS COMING  Sep 24, 2018 10:53 I Like It. | Report Abuse
Yes I apply to. 9 to 9 application
123.2. BOSS IS COMING  Sep 24, 2018 10:54 I Like It. | Report Abuse
Yes I apply to. 9 to 9 application
122. 📞📞📞 IPO CALLING 📞📞📞  Sep 23, 2018 12:19 I Like It. 3 | Report Abuse Reply
Call me is company agent
122.1. PavanM  Sep 24, 2018 10:43 I Like It. 1 | Report Abuse
Top Contributor Top Contributor (400+ Posts, 300+ Likes)
yes, Call me seems to be company agent.
121. ipo share  Sep 23, 2018 09:21 I Like It. 4 | Report Abuse Reply
Few members in forum seem to be promoter group representatives who are bent upon justifying high priced IPO on one pretext or the other.
Don't fall prey to their efforts and always remember that when market conditions deteriorate, high valued stocks fall most.
See what is happening in recently listed and highly applauded HDFC Life and HDFC AMC though HDFC is highly regarded group.
Think before applying.
121.1. PavanM  Sep 24, 2018 09:59 I Like It. | Report Abuse
Top Contributor Top Contributor (400+ Posts, 300+ Likes)
Gruh down by 5% and will fall by another 5% today or tomorrow. Time gone for over valued stocks no matter how good stocks they are. all IPOs which are over valued will have to revise price band quoting poor market conditions.
121.2. PavanM  Sep 24, 2018 10:20 I Like It. | Report Abuse
Top Contributor Top Contributor (400+ Posts, 300+ Likes)
My above message is in reply to Gruh finance closing 3% up post by Callme. somehow, posts are not showing up properly.
120. 📞📞📞 IPO CALLING 📞📞📞  Sep 24, 2018 10:19 I Like It. 1 | Report Abuse Reply
Avg industry pe 20

Aavas come with 56 pe

Hahaha ..

Sale in gra .
119. RAJAKUMAR  Sep 23, 2018 15:03 I Like It. 2 | Report Abuse Reply
IPO Mentor IPO Mentor (700+ Posts, 400+ Likes)
I already said below 400 it will be 2.8 book value. But after seeing price band it getting shock. Rs.800 is too pricey. Above 5.8 times book value, Now NBFC and Housing finance blood bath on Friday now question mark reg subscription.
119.1. Dhan Ki Baat  Sep 23, 2018 17:31 I Like It. | Report Abuse
IPO Mentor IPO Mentor (500+ Posts, 400+ Likes)
All eyes will be on SUBSCRIPTION
119.2. 📞📞📞 IPO CALLING 📞📞📞  Sep 23, 2018 21:43 I Like It. | Report Abuse
Now + or -

Depending on Monday market mood of nbfc
118. 📞📞📞 IPO CALLING 📞📞📞  Sep 23, 2018 18:59 I Like It. | Report Abuse Reply
Only saller @ 11 Mumbai ..

Jaipur no tradabal
117. Devenblt  Sep 23, 2018 15:52 I Like It. | Report Abuse Reply
जयपुर की हाउसिंग फाइनेंस कंपनी आवास फाइनेंसर्स आईपीओ के जरिए 1,734 करोड़ रुपये जुटाने वाली है. कंपनी का आईपीओ सब्सक्रिप्शन के लिए 25 सितंबर से 27 सितंबर तक खुला रहेगा. इसके लिए कंपनी ने 818-821 रुपये का प्राइस बैंड निर्धारित किया है.
कंपनी इस आईपीओ में 400 करोड़ रुपये के ताजा शेयर जारी करेगी. कंपनी के मौजूदा शेयरधारक अपनी हिस्सेदारी के 1,334 करोड़ रुपये के शेयर बिक्री के लिए पेश करने वाले हैं. बीते कुछ सालों में इस हाउसिंग फाइनेंस कंपनी ने एसेट क्वालिटी से समझौता किए बिना अपनी धाक जमाई है.
कंपनी के चीफ इंवेस्टमेंट ऑफिसर घनश्याम रावत ने इस बारे में जानकारी दी. कंपनी की आठ राज्यों के 92 जिलों में 186 शाखाएं हैं. कंपनी अगले तीन सालों में अपने पैर पसारते हुए इसकी संख्या को 300 के पार लेकर जाना चाहती है.

कंपनी का मुख्यालय जयपुर (राजस्थान) में है. राजस्थान के अलावा कंपनी गुजरात, महाराष्ट्र, हरियाणा, मध्य प्रदेश, उत्तराखंड और राष्ट्रीय राजधानी क्षेत्र में सक्रिय है. कंपनी की एसेट क्वालिटी शानदार है. मगर, वैलुएशन के आधार पर कुछ विश्लेषक इसे महंगा बता रहे हैं.बिजनेस
कंपनी एयू स्मॉल फाइनेंस बैंक की सहयोगी हुआ करती थी. अब आवास के प्रमोटर्स निजी इक्विटी कंपनियां- केदार कैपिटल और पार्टनर्स समूह हैं. कंपनी छोटे शहरों में आवासीय लोन देती है, जिसका औसत आकार 8 लाख रुपये तक का है.
कंपनी की शुरुआत 2001 में हुई थी. कंपनी की लोन बुक्स में राजस्थान की हिस्सेदारी 50 फीसदी से अधिक है. कंपनी की 70 फीसदी शाखाएं ऐसे शहरों में हैं, जिनकी आबादी 10 लाख से कम है. कंपनी के 64 फीसदी कर्जदार स्वरोजगार से जुड़े हैं. कंपनी काफी प्रतिस्पर्धी बाजार में काम करती है.

*वित्तीय स्थिति*
वित्त वर्ष 2014 से 2018 के दौरान वितरण 65 फीसदी की दर से बढ़ते हुए 2,050 करोड़ रुपये तक पहुंच गया. वित्त वर्ष 2018 तक कंपनी का सकल एनपीए 0.34 फीसदी का था. कंपनी की एसेट क्वालिटी शानदार है. क्रिसिल ने वित्त वर्ष 2018 में कंपनी की रेटिंग A+ कर दी, जो वित्त वर्ष 2014 में BBB+ थी.

*वैलुएशन और सलाह*
कंपनी प्राइस-टू-बुक आधार पर 4.1 गुना के वैलुएशन की मांग कर ही है, जो इसके प्रतिद्वंद्वियों से अधिक हैं. आईपीओ वैलुएशन काफी आक्रामक है. क्षेत्रीय निर्भरता और बाजार की मौजूदा स्थिति इसे महंगा बनाती हैं. हालांकि, दीर्घावधि निवेश और अधिक जोखिम क्षमता वाले निवेशक इस पर दांव खेल सकते हैं.
116. SJ  Sep 23, 2018 14:20 I Like It. 7 | Report Abuse Reply
IPO Mentor IPO Mentor (500+ Posts, 1200+ Likes)

Friday Closing Banks & NBFC other than yes , DHFL & IB.

CBI - (-20%)Lower Circuit
Indo* - 395
Grameen - 330
MasFin - 535
RBL - 565
Bandhan - 567
Alankit - 19

Schedule #

26/9 - US FOMC meet
27/9 - Issue Closes
4/10 - RBI policy
8/10 - Listing

If there is any interest rate hike by any of them , US or RBI , it would be considered as a negative sentiment for the IPO and this factor would surely be discounted in listing.
115. 📞📞📞 IPO CALLING 📞📞📞  Sep 23, 2018 12:27 I Like It. | Report Abuse Reply
HDFC AMC analyst meet takeaways.

2-pronged strategy to counter recent cuts:

1. On-book - will pass on entire deduction to distributors. And most large amcs will do it. Distributors will have to accept it. Doesnt matter even if smaller amcs pay a bit higher, they do it even now still my product sells. Due to cuts to large fund TERs - only 1-1.5bps impact over PAT/Aum.

2. On incremental flows - it will mostly be 50:50 split between us and distributors. So impact will be reduced.

3. Also the change from upfront to full trail is huge benefit to large players. Working capital release, reduce churn and protect the book quality for larger guys.

4. Also benefit due to no distribution expenses being charged to AMC P&L. So lot of cost cutting will happen.

5. Earnings of distributors to be down 30-35% in new environment. But commissions rates had also gone up from 100 to 135-140 without no reason in last 3-4 years. So that will go back to where it was.
115.1. harit  Sep 23, 2018 13:50 I Like It. | Report Abuse
IPO Mentor IPO Mentor (700+ Posts, 1100+ Likes)
What's is this all about?
I got same massage from my broker also
What HDFC AMC has to do in this?
115.2. 📞📞📞 IPO CALLING 📞📞📞  Sep 23, 2018 13:59 I Like It. | Report Abuse
EPs down next result because of revenue lost
114. ipo share  Sep 23, 2018 13:30 I Like It. | Report Abuse Reply
My criticism has some basis
In 2017, IPO of pomoter Co. - AU Small Finance Bank was priced @ 358 at PE of only 30 and resultantly, it listed @ 525 with PE at 45.
Now AU Financiers is priced at PE of > 50, then what will investors get on listing. See nothing has been left on the table for them
It is unjustified more so because Company issued shares in March, 2018 @ 428 only. Then why they are asking us to pay nearly double in a period of only 6 months.
Hope I am able to convey my point.
113. Masterji  Sep 22, 2018 23:05 I Like It. 1 | Report Abuse Reply
Mentored by Nanoo Pamnani, Vice chairman Bajaj Finserv who has brought Bajaj to this level.. Such person is personally mentoring Aavas Financiers Limited.. DNA of Company is of Au Small finance Bank promoted by Sanjay Agarwal, CA gold medalist and aavas financiers is also run by their CEO Sushil agarwal who is also CA gold medalist... In Toto Gold medalist company. So Gold is always be Gold and valuable.. Dont look only price see what underlying u get through this price.
113.1. kumar s  Sep 23, 2018 13:06 I Like It. 3 | Report Abuse
Masterji lying to others is bad but lying to yourself is even worse.

Bad times ahead for whole BFSI.

112. Callme  Sep 22, 2018 23:49 I Like It. 2 | Report Abuse Reply
This message has been removed by a moderator.
112.1. kumar s  Sep 23, 2018 13:04 I Like It. 2 | Report Abuse

How do you justify the promoter allocating himself the stock at 425 and selling it to us at 820 in 180 days.

They dont show even iota of shame.

I am keeping my money safe with me
111. ANNOMYSLy  Sep 23, 2018 11:44 I Like It. 1 | Report Abuse Reply
This message has been removed by a moderator.
111.1. 📞📞📞 IPO CALLING 📞📞📞  Sep 23, 2018 12:18 I Like It. | Report Abuse
I want to sale bro .whare r u from ?
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