Capital Small Finance Bank IPO
Capital Small Finance Bank IPO — date, price band, lot size & details 2024
Capital Small Finance Bank listed on 14 Feb 2024 at ₹430.25, 8.1% below the ₹468 issue price.
Capital Small Finance Bank is a Jalandhar-based small finance bank serving middle income customers in semi-urban and rural areas of northern India. It began operations as India's first small finance bank in 2016.
Stock price
Capital Small Finance Bank is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 14 November.
- Open 07 Feb 2024
- Close 09 Feb 2024
- Allotment 12 Feb 2024
- Refund/credit 13 Feb 2024
- Listing 14 Feb 2024
Issue summary
The terms of the offer, as filed.
| IPO Dates | 7 to 9 Feb, 2024 |
|---|---|
| Price Band | ₹445 – ₹468 |
| Face Value | ₹10 |
| Lot Size | 32 Shares |
| Issue Size | ₹523.07 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,976 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 32 shares at the ₹468 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 32 | ₹14,976 |
| Retail (max) | 13 | 416 | ₹1,94,688 |
| S-HNI (min) | 14 | 448 | ₹2,09,664 |
| S-HNI (max) | 66 | 2,112 | ₹9,88,416 |
| B-HNI (min) | 67 | 2,144 | ₹10,03,392 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Profit after tax rose from Rs 40.78 crore in FY2021 to Rs 93.60 crore in FY2023.
- 02The pre-issue P/E was 17.68 at the upper band of Rs 468, based on EPS of Rs 26.48.
- 03Rs 450.00 crore of the issue was fresh capital for Tier-1 capital.
- 04Net worth grew from Rs 450.79 crore on 31 March 2021 to Rs 711.76 crore on 30 September 2023.
- 05The promoters did not sell shares, and it was India's 1st small finance bank to start operations.
Risks · 5
- 01Promoters and the promoter group held only 23.96% before the issue and 18.85% after it.
- 02Lending is concentrated in 5 northern states and Chandigarh, led by Punjab, so regional shocks matter.
- 03Total borrowing was Rs 572.76 crore on 30 September 2023.
- 04As a small finance bank it must meet RBI rules on capital, liquidity and priority lending. Assets were Rs 8,390.69 crore.
- 05Return on net worth was 15.33% as per the source, and profit growth depends on deposit costs.
Three years of numbers
All figures in ₹ crore, as reported in the Capital Small Finance Bank offer document.
| Metric | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 8,390.69 | 7,990.77 | 7,153.92 | 6,371.24 |
| Total Income | 415.22 | 725.48 | 632.40 | 557.27 |
| Profit After Tax | 54.39 | 93.60 | 62.57 | 40.78 |
| NET Worth | 711.76 | 610.61 | 515.78 | 450.79 |
| Reserves and Surplus | 676.41 | 576.36 | 481.74 | 416.88 |
| Total Borrowing | 572.76 | 721.38 | 498.43 | 616.72 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Capital Small Finance Bank RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Capital Small Finance Bank IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹26.48 | ₹24.19 |
| P/E Ratio (x) | 17.68 | 19.35 |
| Market Cap at Offer Price (₹ Cr) | ₹961.27 | ₹1,052.27 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹468 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹454.05 Cr of the issue is earmarked to named objects.
Capital Small Finance Bank IPO Anchor Investors
19 anchor investors across 12 fund houses committed ₹156.92 Cr a day before the issue opened.
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
It has a branch-based operating model with a strong presence in semi-urban and rural areas, and targets middle income customers. It aims to be their primary banker through its products, service, branches and digital channels.
It is headquartered in Jalandhar, Punjab, and works mainly in Punjab, Haryana, Delhi, Rajasthan, Himachal Pradesh and Chandigarh.
The IPO was Rs 523.07 crore, with Rs 450.00 crore of fresh issue and Rs 73.07 crore of offer for sale by investors and other shareholders. Rs 424.08 crore was planned to augment the bank's Tier-1 capital.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Capital Small Finance Bank IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Nuvama Wealth Management Ltd.
42 issues handledBest listing: Gandhar Oil Refinery (India) (+76.3%). Weakest: ACME Solar Holdings (-13.1%).
Equirus Capital Pvt.Ltd.
36 issues handledBest listing: G R Infraprojects (+105.0%). Weakest: Metro Brands (-12.6%).
Dam Capital Advisors Ltd
70 issues handledBest listing: Go Colors (+89.9%). Weakest: Metro Brands (-12.6%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Capital Small Finance Bank?
The current Grey Market Premium is ₹7, or 1% over the issue price.
What is the Capital Small Finance Bank IPO price band?
₹445 to ₹468, on a face value of ₹10.
When is the allotment?
The basis of allotment is 12 February 2024, with listing on 14 February 2024.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
