The floor price of the deal is set at Rs 316 apiece, which is at 5 per cent discount to Wednesday's closing price. WestBridge Capital, a private equity firm would sell around 8.23 crore shares, representing a 16.46 per cent stake in Aptus Value Housing Finance India. The deal would be structured as a clean-out trade, signalling a significant exit move for the private equity investor.
This is WestBridge's second big stake sale in Aptus Value Housing in recent months. In June, it sold a 12.4 per cent stake for Rs 1,906 crore via open market deals, offloading 6.19 crore shares at an average Rs 307.54 each.
Aptus Value Housing Finance India has a network of 301 branches, catering to 1.65 lakh customers in Tamil Nadu, Telangana, Andhra Pradesh, Karnataka, Maharashtra and Odisha. The company offers home loans for purchase and self-construction of residential property, home improvement, extension loans, loans against property and business loans to the low and middle-income groups.
While commenting of a Aptus subsidiary last month, ICRA said Aptus group's consolidated assets under management (AUM) increased at a compound annual growth rate (CAGR) of 28 per cent over the last five years (FY2021-FY2025), reaching Rs 10,865 crore as of March 2025 and to Rs 11,267 crore as of June 2025.
The group's AUM is expected to increase at a CAGR of 25-30 per cent over the medium term, ICRA said adding that the group has maintained healthy asset quality in the past,
supported by prudent underwriting and internal controls, with the gross stage 3 (GS3) in the range of 0.7-1.2 per cent over the last five years.
While updating its credit rating in August, ICRA noted that Aptus group has a track record of maintaining robust profitability with the return on managed assets (RoMA) in the range of 6.4-7.8 per cent during the past five years. ICRA noted that the group's leverage has largely remained low, supported by strong internal accruals, with its managed gearing at 1.6 times as of March 2025 (1.7 times as of June 2025). The strong capitalisation is expected to support portfolio growth over the medium term.
"The non-housing loan (NHL) portfolio also continues to experience rapid growth and accounts for a sizeable share of the AUM. The company has been undertaking direct assignment transactions from FY2025 for its loan against property (LAP)/small and medium enterprise (SME) portfolio to improve the share of the on-book housing loan (HL) portfolio," it said
Even as theshare of LAP and SME remained high at 46 per cent in FY2025 on a consolidated basis, the company's loan portfolio is yet to witness a material impact on account of the recently enacted laws in Tamil Nadu or Karnataka w.r.t. the microfinance industry.