Mumbai
:
Private equity (PE) firm WestBridge Capital is set to sell its remaining stake in Aptus Value Housing Finance India Ltd via a block deal worth up to ₹2,600 crore, according to a deal term sheet seen by Mint.
The deal will see 82.3 million shares—16.46% of the company’s outstanding equity—change hands, the document showed.
Described as a “clean-out trade”, the pure secondary sale—with no fresh equity issuance by Aptus Value—will mark WestBridge’s complete exit from the company under the deal terms.
The floor price has been fixed at ₹316 per share, implying a discount of up to 5% to Aptus Value’s 3 September closing of ₹332.15 on National Stock Exchange (NSE).
At the floor price, the transaction size is pegged at approximately ₹2,600 crore ($295 million). Earlier in June, WestBridge Capital sold a 12.4% stake in the housing finance firm, amounting to ₹1,906 crore, via an open-market transaction.
The Chennai-headquartered firm—founded by Munuswamy Anandan and Padma Anandan in 2009—went public in 2021 and currently has a market capitalization of about ₹16,239 crore.
It focuses on retail housing finance for low- and middle-income self-employed customers in rural and semi-urban markets.
The company reported a growth of 27.66% in its net consolidated profit during the June quarter. Its profit after tax stood at ₹219.25 crore against ₹171.74 crore in the year-ago quarter.
Its net consolidated total income stood at ₹530.14 crore, up 31.02% from ₹404.62 crore a year ago.
WestBridge Capital first invested $16 million in the lender’s Series B round in 2014. Its last participation was in the $122 million Series D round in 2019, at a $725 million valuation, alongside JIH, Steadview, Malabar Investments, Redwood Trust, ABG Capital, and Peak XV Partners, according to Tracxn.
