Equitas Holdings IPO
Equitas Holdings IPO — date, price band, lot size & details 2016
Equitas Holdings listed on 21 Apr 2016 at ₹145.1, 31.9% above the ₹110 issue price.
Equitas Holdings is a Chennai based holding company of lenders to low income individuals and micro and small enterprises, and was selected by the RBI to set up a small finance bank. Its standalone net worth was Rs 954.99 crore on 31 December 2015.
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 05 Apr 2016
- Close 07 Apr 2016
- Allotment 13 Apr 2016
- Refund/credit TBA
- Listing 21 Apr 2016
Issue summary
The terms of the offer, as filed.
| IPO Dates | 5 to 7 Apr, 2016 |
|---|---|
| Price Band | ₹109 – ₹110 |
| Face Value | ₹10 |
| Lot Size | 135 Shares |
| Issue Size | ₹2176.68 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 14,850 |
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 135 shares at the ₹110 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 135 | ₹14,850 |
| Retail (max) | 13 | 1,755 | ₹1,93,050 |
| S-HNI (min) | 14 | 1,890 | ₹2,07,900 |
| S-HNI (max) | 67 | 9,045 | ₹9,94,950 |
| B-HNI (min) | 68 | 9,180 | ₹10,09,800 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01It was one of 10 companies selected by the RBI to set up small finance banks.
- 02Standalone net worth rose from Rs 435.91 crore in FY2013 to Rs 954.99 crore on 31 December 2015.
- 03Rs 616.00 crore of the issue was for adding capital to its lending subsidiaries.
- 04It serves borrowers with limited access to formal finance; standalone total assets were Rs 963.00 crore.
Risks · 5
- 01As a holding company, its standalone income was tiny at Rs 8.92 crore in FY2015, so value lies in its subsidiaries.
- 02Lending to low income borrowers and small businesses carries high credit risk, and Rs 616.00 crore went into these lending arms.
- 03Converting to a small finance bank brings new RBI rules and costs; standalone profit was Rs 1.81 crore in nine months to December 2015.
- 04Rs 1,456.68 crore of the Rs 2,176.68 crore issue went to selling shareholders.
- 05It has no identifiable promoter, so control rests with institutional shareholders; standalone assets were Rs 963.00 crore.
Three years of numbers
All figures in ₹ crore, as reported in the Equitas Holdings offer document.
| Metric | 31 Dec 2015 | 31 Mar 2015 | 31 Mar 2014 | 31 Mar 2013 |
|---|---|---|---|---|
| Assets | 963.00 | 957.06 | 632.60 | 436.30 |
| Total Income | 6.65 | 8.92 | 2.88 | 2.69 |
| Profit After Tax | 1.81 | 1.69 | 0.47 | 1.06 |
| NET Worth | 954.99 | 955.80 | 631.77 | 435.91 |
| Reserves and Surplus | 690.03 | 686.92 | 559.15 | 378.15 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Where the money goes
₹696.64 Cr of the issue is earmarked to named objects.
Equitas Holdings IPO Anchor Investors
63 anchor investors across 14 fund houses committed ₹652.23 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
Through its subsidiaries it serves individuals and micro and small enterprises with limited access to formal finance, including low income groups and people running small businesses.
It was one of 10 companies selected by the RBI to set up small finance banks. Its standalone figures mainly reflect its holding company role.
The IPO was Rs 2,176.68 crore, with Rs 720.00 crore of fresh issue and Rs 1,456.68 crore of offer for sale, at Rs 110, the top of the Rs 109 to Rs 110 band. Most of the fresh money was for investing in its subsidiaries EFL, EMFL and EHFL.
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.
Equitas Holdings 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.
HSBC Securities & Capital Markets (India) Pvt. Ltd.
34 issues handledBest listing: Gujarat State Petronet (+72.2%). Weakest: Nuvoco Vistas Corporation (-14.9%).
Axis Capital
255 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
ICICI Securities
221 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Bannari Amman Spinning Mills (-25.2%).
Edelweiss Financial Services Ltd
73 issues handledBest listing: Route Mobile (+104.9%). Weakest: ICICI Securities (-16.3%).
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 Equitas Holdings?
The current Grey Market Premium is ₹0.
What is the Equitas Holdings IPO price band?
₹109 to ₹110, on a face value of ₹10.
When is the allotment?
The basis of allotment is 13 April 2016, with listing on 21 April 2016.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies 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.
