Aptus Value Housing Finance India Limited has made two significant announcements: the declaration of an interim dividend and a request for reclassification of a major shareholder.

Interim Dividend Declaration

The Board of Aptus Value Housing Finance approved an interim dividend of Rs 2.00 per equity share with a face value of Rs 2.00. The company has provided detailed tax deduction at source (TDS) guidelines to shareholders, outlining various exemption categories and required documentation:

• For resident individuals, no tax will be deducted if the total dividend for the year does not exceed Rs 10,000.00; otherwise, a 10% TDS applies.
• Non-resident shareholders face a 20% withholding tax or treaty rates, whichever is lower.
• Shareholders must submit necessary documents to determine appropriate TDS rates.
• Exemptions can be claimed by providing forms like 15G/15H for individuals, or relevant certificates for institutional investors including mutual funds, insurance companies, and government entities.

Reclassification Request

In a separate development, Aptus Value Housing Finance has sought approval for the reclassification of WestBridge Crossover Fund, LLC from the "Promoter/Promoter group" category to the "Public" category. This move is in compliance with the Securities and Exchange Board of India (SEBI) regulations.

Key Details of the Reclassification Request

Implications and Process

The company has submitted applications to both the BSE Limited and the National Stock Exchange of India Limited, seeking their no-objection or approval for this reclassification. This step is crucial in the process of changing the status of WestBridge Crossover Fund, LLC within the company's shareholding structure.

Regulatory Compliance

Aptus Value Housing Finance has emphasized that this intimation is made in strict adherence to the requirements set forth by SEBI. The company is following the prescribed procedures under Regulation 31A(8)(c) and Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Potential Implications

While the reclassification process is underway, it's important to note that such changes may impact the company's ownership structure and governance. Investors and market watchers should monitor further developments and any subsequent announcements from the company or regulatory bodies regarding this reclassification.

The outcome of this application and its potential effects on the company's operations and market perception remain to be seen. Stakeholders are advised to stay informed about any updates on this matter as they become available.

Aptus Value Housing Finance , a prominent player in the Indian housing finance sector, has outlined its strategic growth plans, aiming for significant expansion in its assets under management (AUM) over the next three years.

Key Growth Targets

Strategic Initiatives

The company has revealed several key strategies to achieve its ambitious growth targets:

1. Maintaining High ROE: Aptus Value Housing Finance aims to maintain its 20% return on equity goal, showcasing its commitment to delivering value to shareholders.

2. Direct Assignment Deals: The company is targeting returns of 6-7% on direct assignment deals. These deals are expected to comprise up to 10% of its loan book.

3. Robust AUM Growth: With a targeted compound annual growth rate (CAGR) of 25%, Aptus Value Housing Finance anticipates reaching Rs. 25,000 crore to Rs. 26,000 crore in assets under management within the next three years.

Industry Implications

The targets set by Aptus Value Housing Finance reflect the company's outlook on the Indian housing finance sector. As the demand for affordable housing continues to rise in India, housing finance companies are positioning themselves to capitalize on this growth opportunity.

The company's focus on maintaining a high return on equity while simultaneously pursuing AUM growth demonstrates a balanced approach to expansion. This strategy could potentially set a benchmark for other players in the housing finance industry.

However, it's important to note that achieving these targets will depend on various factors, including the overall economic environment, regulatory landscape, and the company's execution capabilities. Investors and industry observers will likely keep a close watch on Aptus Value Housing Finance's performance in the coming years as it works towards these goals.