Equitas Small Finance Bank IPO
Equitas Small Finance Bank IPO — date, price band, lot size & details 2020
Equitas Small Finance Bank listed on 2 Nov 2020 at ₹31.1, 5.8% below the ₹33 issue price.
Equitas Small Finance Bank offers loans and banking services to unserved and underserved customers, with microfinance, vehicle, housing and small business loans. Its total income was Rs 2,927.80 crore in FY2020.
Stock price
Equitas 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 20 Oct 2020
- Close 22 Oct 2020
- Allotment 27 Oct 2020
- Refund/credit 28 Oct 2020
- Listing 02 Nov 2020
Issue summary
The terms of the offer, as filed.
| IPO Dates | 20 to 22 Oct, 2020 |
|---|---|
| Price Band | ₹32 – ₹33 |
| Face Value | ₹10 |
| Lot Size | 450 Shares |
| Issue Size | ₹517.6 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 450 shares at the ₹33 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 450 | ₹14,850 |
| Retail (max) | 13 | 5,850 | ₹1,93,050 |
| S-HNI (min) | 14 | 6,300 | ₹2,07,900 |
| S-HNI (max) | 67 | 30,150 | ₹9,94,950 |
| B-HNI (min) | 68 | 30,600 | ₹10,09,800 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 1,772.90 crore in FY2018 to Rs 2,927.80 crore in FY2020.
- 02Profit after tax rose from Rs 31.83 crore in FY2018 to Rs 243.64 crore in FY2020.
- 03Total assets grew from Rs 13,301.15 crore in FY2018 to Rs 20,892.14 crore on 30 June 2020.
- 04It was the largest SFB by banking outlets in Fiscal 2019, with housing loans since 2011 and vehicle loans since 2012.
- 05Net NPAs were 1.48% of net advances on 30 June 2020.
Risks · 5
- 01Gross NPAs were 2.68% of gross advances on 30 June 2020.
- 02Its customers have informal, cash based incomes, so repayments can suffer in a downturn such as COVID-19.
- 03Total borrowing was Rs 5,525.53 crore on 30 June 2020.
- 04RBI conditions require 25% of its banking outlets to be in unbanked rural centres.
- 05Equitas Holdings held 95.49% before the issue and 82.05% after it, and its stake had to come down further under SFB rules.
Three years of numbers
All figures in ₹ crore, as reported in the Equitas Small Finance Bank offer document.
| Metric | 30 Jun 2020 | 31 Mar 2020 | 31 Mar 2019 | 31 Mar 2018 |
|---|---|---|---|---|
| Assets | 20,892.14 | 19,314.55 | 15,762.69 | 13,301.15 |
| Total Income | 750.97 | 2,927.80 | 2,394.83 | 1,772.90 |
| Profit After Tax | 57.67 | 243.64 | 210.57 | 31.83 |
| NET Worth | 2,788.54 | 2,730.87 | 2,241.04 | 2,030.47 |
| Reserves and Surplus | 1,748.42 | 1,690.75 | 1,248.38 | 1,037.81 |
| Total Borrowing | 5,525.53 | 5,134.87 | 3,973.03 | 5,177.21 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Where the money goes
₹291.73 Cr of the issue is earmarked to named objects.
Equitas Small Finance Bank IPO Anchor Investors
35 anchor investors across 12 fund houses committed ₹139.66 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
According to the CRISIL Report in its RHP, it was the largest small finance bank in India by number of banking outlets, and the second largest by assets under management and total deposits, in Fiscal 2019.
It focuses on individuals with informal, variable and cash based incomes who have limited access to formal finance. Its gross NPAs were 2.68% of gross advances on 30 June 2020.
The IPO was Rs 517.60 crore, with Rs 280.00 crore of fresh issue and Rs 237.60 crore of offer for sale by Equitas Holdings. The fresh money was to augment the bank's Tier I capital base.
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 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.
JM Financial Ltd.
172 issues handledBest listing: Tata Technologies (+140.0%). Weakest: ACME Solar Holdings (-13.1%).
IIFL Capital Services Limited
146 issues handledBest listing: Unicommerce eSolutions (+117.6%). Weakest: ICICI Securities (-16.3%).
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 Small Finance Bank?
The current Grey Market Premium is ₹2.5, or 8% over the issue price.
What is the Equitas Small Finance Bank IPO price band?
₹32 to ₹33, on a face value of ₹10.
When is the allotment?
The basis of allotment is 27 October 2020, with listing on 2 November 2020.
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.
