Aptus Value Housing Finance India makes weak debut on exchanges

NEW DELHI: Shares of Aptus Value Housing Finance India on Tuesday made a weak beginning on exchanges with its shares closing over 1 per cent lower compared with the issue price. The issue price was Rs 353.

On BSE, the shares opened at Rs 329.95 which was 6.52 per cent below the issue price.

Its opening price was also the lowest value the scrip had hit during the day.

The scrip hit a high of Rs 354.6 and a low of Rs 329.95, during the trading session.

It closed the counter at Rs 346.5, declining 1.84 per cent in comparison to the issue price.

On NSE, the scrip got listed at Rs 333, a discount of 5.66 per cent in comparison to the issue price. This was also the lowest value the scrip had hit during the day.

It had hit a high of Rs 354.8.

The scrip finally ended at Rs 352, 0.28 per cent below the issue price.

The initial public offer (IPO) of Aptus Value Housing Finance India received 17.20 times subscription on the closing day of the offer.

The Rs 2,780-crore IPO received bids for 94,82,42,442 shares against 5,51,28,500 shares on offer, according to exchanges data.

The net proceeds from the fresh issue will be utilised towards augmenting the company’s tier-1 capital requirements.