Aavas Financiers share price: Aavas Financiers is listed at Rs 758, ie 7.7% discount

NEW DELHI: The housing finance company, Aavas Financiers, which recently made its first public offering, raised 1,734 crore.

The stock, however, had a disappointing start, registering at Rs 758 a discount of 7.7% on the issue price of Rs 821.

The script has been registered on both NSE and BSE.

The IPO, which opened from 25 to 27 September, was subscribed at 97% at a price range of Rs 818 to 821 per share.

Effective Monday, October 8, 2018, Aavas Financiers' equity shares will be listed and admitted to trading on the stock exchanges, the NSE and BSE specified in separate circulars.

The IPO included a new issue of up to Rs 400 crore and an offer to sell up to a maximum of 1,622,299,359 shares, including the slice of anchor 63,366,439 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 on the show.

Aavas Financial offers housing loans to clients in low and middle income segments in semi-urban and rural areas.