New Delhi, Aug 10 (PTI) The initial share-sale of Aptus Value Housing Finance India was subscribed 24 per cent on the first day of offer on Tuesday.

The IPO received bids for 1,30,83,210 shares against 5,51,28,500 shares on offer, as per an update on the exchanges.

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The portion for qualified institutional buyers(QIBs) was subscribed 25 per cent, while those meant for non-institutional investors 1 per cent and retail individual investors (RIIs) 33 per cent.

The offer has a fresh issue of up to Rs 500 crore and an offer for sale of up to 6,45,90,695 equity shares.

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The price range for the initial public offer (IPO) has been fixed at Rs 346-353 per share.

At the upper end of the price band, the IPO is expected to fetch Rs 2,780 crore. Aptus Value Housing Finance on Monday said it has raised Rs 834 crore from anchor investors.

The net proceeds from the fresh issue will be utilised towards augmenting the company's tier-1 capital requirements.

Aptus Value Housing Finance has a strong capital sponsorship by marquee investors like Westbridge, Malabar Investments, Sequoia Capital, Steadview Capital, and Madison India.

ICICI Securities, Citigroup Global Markets India, Edelweiss Financial Services, and Kotak Mahindra Capital Company are the book running lead managers to the offer.

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