The Floor Price is 81.80 times the face value and the Cap Price is 82.10 times the Face Value of the Equity Shares.
Mumbai, September 17, 2018 (GPN) : Aavas Financiers Limited (the “Company”), proposes to open on September 25, 2018*, an initial public offering of equity shares of Face Value of Rs. 10 each (“Equity Shares”) for cash at a Price per Equity Share (including a Share Premium) (“Offer”) comprising a fresh issue of up to [●] Equity Shares aggregating up to Rs. 4,000 million (“Fresh Issue”) and an offer for sale of up to 16,249,359 Equity Shares including an Offer For Sale of up to 8,815,439 Equity Shares by Lake District Holdings Limited (“Lake District”), up to 4,281,907 Equity Shares by Partners Group ESCL Limited (“ESCL” and together with Lake District, “Promoter Selling Shareholders”), up to 236,339 Equity Shares by Kedaara Capital Alternative Investment Fund – Kedaara Capital AIF 1 (“Kedaara AIF-1” or “Investor Selling Shareholder”), and up to 1,879,110 Equity Shares by Partners Group Private Equity Master Fund LLC (“Master Fund” Or “Promoter Group Selling Shareholder”) and up to 911,564 Equity Shares by Sushil Kumar Agarwal and up to 125,000 Equity Shares by Vivek Vig (Together, The “Other Selling Shareholders” and together with the Promoter Selling Shareholders, Investor Selling Shareholder and Promoter Group Selling Shareholder, the “Selling Shareholders” and such Offer For Sale, the “Offer For Sale”) .
The Bid/Offer Period will close on September 27, 2018. The Price Band for the Offer is from Rs. 818 to Rs. 821 per Equity Share. Bids# can be made for a minimum lot of 18 Equity Shares and in multiples of 18 Equity Shares thereafter.
The Equity Shares are proposed to be listed on BSE and NSE.
The Global Co-ordinators and Book Running Lead Managers (“GCBRLMs”) to the Offer are ICICI Securities Limited, Citigroup Global Markets India Private Limited, Edelweiss Financial Services Limited and Spark Capital Advisors (India) Private Limited. The Book Running Lead Manager (“BRLM”) to the Offer is HDFC Bank Limited.
*Our Company and the Selling Shareholders, in consultation with the GCBRLMs and BRLM, may consider participation by Anchor Investors, in accordance with the SEBI ICDR Regulations. The Anchor Investor Bidding Date shall be one Working Day prior to the Bid/ Offer Opening Date i.e., Monday, September 24, 2018..
The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957 (the “SCRR”), through the Book Building Process and in compliance with Regulation 26(1) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 (the “SEBI ICDR Regulations”), wherein not more than 50% of the Offer shall be allocated to Qualified Institutional Buyers (“QIBs”) (the “QIB Category”), provided that the Company and the Selling Shareholders may, in consultation with the GCBRLMs and BRLM, allocate up to 60% of the QIB Category to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations (the “AnchorInvestor Portion”), of which one-third is to be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the price at which allocation is made to Anchor Investors (the “Anchor Investor Allocation Price”). In the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Category. Further, 5% of the QIB Category (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis only to Mutual Funds, and the remainder of the QIB Category shall be available for allocation on a proportionate basis to all QIBs (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price However, if the aggregate demand from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion for proportionate allocation to QIBs. Further, not less than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Investors and not less than 35% of the Offer shall be available for allocation to Retail Individual Investors, in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. All Investors (except Anchor Investors) shall mandatorily participate in this Offer only through the Application Supported by Blocked Amount (“ASBA”) process, and shall provide details of their respective bank account in which the Bid Amount will be blocked by the SCSBs. Anchor Investors are not permitted to participate in the Anchor Investor Portion through the ASBA process.ENDS