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
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.
| 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 | |
| Particulars | For the year/period ended (in Rs. Millions) | |||||
|---|---|---|---|---|---|---|
| 31-Mar-18 | ||||||
| Total Assets | 38,174.01 | |||||
| Total Revenue | 4,572.71 | |||||
| Profit After Tax | 928.75 | |||||
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.
| Issue Open | Sep 25, 2018 - Sep 27, 2018 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 21,121,437 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 Sale | 16,249,359 Eq Shares of Rs 10 (aggregating up to Rs [.] Cr) |
| Face Value | Rs 10 Per Equity Share |
| Issue Price | Rs 818 - Rs 821 Per Equity Share |
| Market Lot | 18 Shares |
| Min Order Quantity | 18 Shares |
| Listing At | BSE, NSE |
| Bid/Offer Opens On | Sep 25, 2018 |
| Bid/Offer Closes On | Sep 27, 2018 |
| Finalisation of Basis of Allotment | Oct 3, 2018 |
| Initiation of Refunds | Oct 4, 2018 |
| Credit of Shares to Demat Acct: | Oct 5, 2018 |
| IPO Shares Listing Date: | Oct 8, 2018 |
No. of Times Issue Subscribed (BSE + NSE) | |||||||
|---|---|---|---|---|---|---|---|
As on Date & Time | |||||||
Shares Offered | 4,224,293 | 3,168,220 | 7,392,514 | 14,785,027 | |||
Sep 27, 2018 18:30 | 2.77x | 0.26x | 0.25x | 0.97x | |||
603 3.9 Rating:  Vote Here ... |
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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
Email: aavas.ipo@linkintime.co.in
Website: http://www.linkintime.co.in
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