Capital Small Finance Bank IPO subscribed 4x on last day
Upstox
3 min read • Updated: February 12, 2024, 12:12 PM
Summary
The ₹523-crore IPO consists of ₹450 crore of fresh issue and ₹73 crore of offer for sale (OFS). Capital SFB raised ₹157 crore from anchor investors ahead of the opening of the IPO for subscription.
The initial public offering (IPO) of Capital Small Finance Bank has seen a good response from the investors on the final day of bidding. The IPO was open for subscription from February 7 to February 9.
The Capital Small Finance Bank IPO received bids for over 3.26 crore shares compared to 81.47 lakh shares on offer on the final day of subscription, as per the latest data. This indicates the public issue fetching bids 4 times higher than the total share-sale.
The Qualified Institutional Buyers (QIB) portion received the highest bidding at 6.64 times than the allotted shares. The Non-Institutional Investors (NII) segment was subscribed 4.05 times while the retail portion fetched bidding of 2.49 times.
Capital Small Finance Bank IPO: Issue size, minimum investment and price band
The ₹523-crore IPO consists of ₹450 crore of fresh issue and ₹73 crore of offer for sale (OFS). The fresh issue comprises 96 lakh shares while the OFS portion includes 16 lakh shares. Through the IPO, the promoters and external investors will dilute 5% each of their pre-issue shareholdings in the bank.
The small finance bank fixed the price band of ₹445-₹468 per equity share for the maiden issue. The lot size was 32 shares and in multiples thereafter for retail investors. The minimum investment in the Capital Small Finance Bank IPO was ₹14,976.
Capital SFB raised ₹157 crore from anchor investors ahead of the opening of the IPO for subscription.
Link Intime India Private Limited is the registrar of the issue. Nuvama Wealth Management Limited, Dam Capital Advisors and Equirus Capital Private Limited are the book-running lead managers of the Capital SFB IPO.
Important dates
As the subscription period is over, now the bank is expected to finalize the share allotment status by February 12. The investors, who won’t be allotted shares, can expect the refunds by February 13. Shares of Capital Small Finance Bank are expected to be listed on the stock exchanges on February 14.
About Capital Small Finance Bank
The promoter family of Capital Small Finance Bank led by Sarvjit Singh Samra owns a 24% stake in Capital Small Finance Bank. The bank began operation in 2016, a year after it became the first non-NBFC microfinance entity to be granted an SFB licence by the Reserve Bank of India. The bank offers fully secured loans to micro and medium-sized enterprises, mortgages and farmers in Punjab, Himachal Pradesh, Haryana, Chandigarh, Delhi and Rajasthan.
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