Stock Market

Aavas Financiers to make market debut on Monday

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Housing finance company Aavas Financiers, which raised Rs 1,734 crore through an initial public offering recently, will list its shares on the exchanges on Monday. The IPO, which opened from September 25-27, was subscribed 97 per cent at a price band of Rs 818 to Rs 821 per share. Effective Monday, October 8, 2018, the equity shares of Aavas Financiers shall be listed and admitted to dealings on the exchanges, the NSE and BSE said in separate circulars. The IPO comprised fresh issue of up to Rs 400 crore and an offer for sale of up to 1,62,49,359 equity shares, including anchor portion of 63,36,439 equity shares. ICICI Securities Limited, Citigroup Global Markets India Private Limited, Edelweiss Financial Services Limited, Spark Capital Advisors (India) Private Limited and HDFC Bank were the merchant bankers to the issue. Aavas Financiers offers housing loans to customers from low and middle income segments in semi-urban and rural areas.




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