Quote on Aptus Value Housing IPO by Mr. Jyoti Roy, Angel Broking Ltd
Below is quote on Aptus Value Housing IPO by Mr. Jyoti Roy - DVP- Equity Strategist, Angel Broking Ltd
The Rs. 2,780 crore Aptus Value Housing Finance Ltd IPO issue received good response and was subscribed by 17.2x due to strong demand from QIB and NIB investors. We had given a SUBSCRIBE rating to the IPO from a long term perspective and expect the company to do well in the long run given consistent strong financial performance, industry leading return ratios and good asset quality. Given the recent volatility in the markets there is a likelihood of a tepid listing for the stock tomorrow. However we would recommend investors to hold on the positions in case the stock prices dip below the IPO price on listing. We believe that the company has got strong fundamentals and should do well once the volatility in the market subsides.
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