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4h ago

WestBridge Lines Up Rs 2,600 Crore Block Sale to Exit Aptus Value Housing Stake

A clean-out trade at a Rs 316 floor price points to a major reshaping of the lender’s shareholder base.

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WestBridge to exit 16.5% stake in Aptus Value Housing via Rs 2,600 cr block deal

Overview

  • WestBridge is set to offload about 8.23 crore shares, roughly a 16.46–16.5% stake, in block trades on Thursday for proceeds estimated at Rs 2,600 crore.
  • The shares are offered at a floor price of Rs 316 apiece, implying about a 5% discount to the previous close.
  • The transaction is structured as a clean-out trade, signaling a significant promoter exit and a transition to new institutional holders.
  • The move follows a June sale of 12.4% for about Rs 1,906 crore that saw buying from SBI Mutual Fund, Axis Mutual Fund, Morgan Stanley Asia Singapore and Eastbridge.
  • Aptus recently reported Q1 net profit up 27% to Rs 219 crore and AUM up 24% to Rs 11,267 crore, with gross NPAs at 1.49% and management guiding 20–22% annual lending growth.