WestBridge Capital to Sell 16.5% Stake in Aptus Value Housing for ₹2,600 Crore

Private equity firm WestBridge Capital is set to sell 8.23 crore shares, or a 16.46% stake, in Aptus Value Housing Finance India through a block deal worth about ₹2,600 crore, according to sources. The shares will be offered at a floor price of ₹316 apiece, representing a discount of about 5% to the stock’s last closing price, the sources said.

The transaction is being executed as a clean-out trade, they added. This move follows WestBridge Capital’s previous stake sale in June, where it pared a 12.4% stake in Aptus Value Housing Finance, raising ₹1,906 crore via an open market deal.

Bulk deal data from the NSE showed that WestBridge Capital’s arm, WestBridge Crossover Fund LLC, sold over 6.19 crore shares at an average price of ₹307.54 apiece. The stake was partly absorbed by institutional buyers, with SBI Mutual Fund, Axis Mutual Fund, Morgan Stanley Asia Singapore, and Luxembourg-based Eastbridge Group together acquiring more than 1.67 crore shares, or a 3.35% stake, for about ₹514 crore.

Aptus Value Housing Finance India is a leading housing finance company in India, providing affordable housing solutions to the lower-income segment. The company has been instrumental in promoting inclusive growth and financial inclusion in the housing sector. The recent block deal is expected to further strengthen the company’s financial position and attract more institutional investors.

The decision to sell the stake is part of WestBridge Capital’s broader strategy to optimize its portfolio and focus on high-growth opportunities. The firm has a strong track record of investing in and nurturing companies in various sectors, including technology, healthcare, and financial services. The proceeds from the sale will be used to fund new investments and support the growth of its existing portfolio companies.

The block deal is expected to be completed in the coming days, subject to regulatory approvals. Market analysts are positive about the transaction, noting that the discount offered is reasonable and the company’s fundamentals remain strong. The deal is likely to attract significant interest from institutional investors and retail investors alike, given the robust performance and growth potential of Aptus Value Housing Finance India.