Equitas Small Finance Bank IPO Review

IPO Status: Closed [20th Oct 2020 to 22nd Oct 2020]

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About Equitas SFB IPO

The Equitas SFB IPO will be open for subscription on 20th Oct 2020 and closes on 22nd Oct 2020. The IPO issue size is Rs 517.60 crore (fresh issue of Rs 280 crore and offer for sale of Rs 252 crore). Equitas SFB IPO price band is Rs 32 - Rs 33 and IPO lot size is 450 shares and multiple of it. The IPO floor price is 3.2 times and cap price is 3.3 times of the face value. Get here the complete Equitas Small Finance Bank IPO review including all the information regarding the company like business, objective, strength, weakness, financials, IPO Price, important dates, GMP and much more.

The company has reserved Equity Shares aggregating up to Rs 51 crore under EHL Shareholders Reservation Portion and Rs 1 Cr for EHL Employees.. No discount offered to eligible Employees under Employee Quota.

The cutoff Date (Last Date) to buy EHL share under Shareholders quota is RHP filling date which is 11th Oct 2020 , so to participate in shareholders quota must have EHL shares in there demat account as of 11th Oct 2020. (As 11th Oct 2020 was Sunday, so share bought on and before 7th Oct 2020 are eligible for shareholders quota.)

  • Incorporated Year: 2016
  • Sector: Banking and Finance
  • Website: www.equitasbank.com
  • Employee Reservation Portion: Rs 1 Crore
  • EHL Shareholders Reservation Portion: Rs 51 Crore
  • EHL Shareholders Cut-Off Date: 11-10-2020

About Company - Equitas Small Finance Bank Ltd

The subsidiary of Equitas Holdings Ltd., Equitas Small Finance Bank Limited is the largest small finance bank in terms of the number of branches and second largest in terms of asset under management as well as deposits with over 90.1 billion. These deposits have grown at a rate of 145% year-on-year in fiscal 2019.

Currently, the company offers a range of banking products and services which focus on serving the financially unserved and underserved customers of India. These include small business loans, housing loans, vehicle finance products, micro-credits and agricultural loans.

Equitas Small Finance Bank has a range of investment and saving options for its customers. It also provides ATM-cum-debit cards, third party insurance, mutual fund products and issue FASTags. It also provides demand deposits and savings bank account by realizing the needs of customers. It also develops the products which match the growth of target customers.

Equitas SFB also sponsors social initiatives in specific regions and communities to foster customer loyalty and company’s visibility in these regions. This increase the likelihood that customers will approach the company for their financial needs. It also leverages the front-end technology platforms, so that it can improve customer acquisition and transaction management.

The deposits of Equitas SFB have grown at a CAGR of 116.51% from ₹19,212.89 million as of March 31, 2017, to ₹90,067.36 million as of March 31, 2019. The company has a sales force of 15,589 employees in 853 branches across India and their 3 billion customers to market their products. However, the Reserve Bank of India bars the company from opening new branches.

Equitas SFB IPO Objective

  • Fresh Issue – to augment bank's tier-1 capital base to meet future capital requirements which include organic growth and expansion.
  • Offer for Sale - The Promoter Selling Shareholder shall be entitled to the proceeds from the Offer for Sale.

Equitas SFB IPO Shareholders Reservation Portion

  • Reservation of up to 1,54,54,545 equity shares is available for allocation to EHL Shareholders on a proportionate basis.
  • The cut-off date for EHL shares in the demat account is 11th Oct 2020.
  • As per RHP, the EHL shareholders can apply up to Rs 2 lakh (net of EHL Shareholder Discount) under the SH category. EHL shareholders bidding up to Rs 2 lakh can also apply under the retail category. EHL Shareholders Reservation Portion and NII Category(above Rs 2L) is treated a multiple bid or not valid.
  • If the aggregate demand in this category is less than or equal to 1,54,54,545 Equity Shares at or above the Offer Price, full allocation shall be made to the EHL Shareholders to the extent of their demand.
  • If the aggregate demand in this category is greater than 1,54,54,545 Equity Shares at or above the Offer Price, the allocation shall be made on a proportionate basis.
  • EHL Shareholders Bidding under the EHL Shareholders Reservation Portion up to Rs 200,000 are entitled to Bid at the Cut-off Price.
  • Bidding will be made on prescribed Bid cum Application Form or Revision Form (Green color form).
  • EHL Shareholders bidding in the EHL Shareholders Reservation Portion can bid through the UPI mechanism.

Equitas SFB IPO Employee Reservation Portion

  • Reservation of up to 3,03,030 equity shares is available for Eligible Employees on a proportionate basis with employee discount of Rs 0 per share. As per RHP, the Eligible Employees can apply up to Rs 5 lakh for the Employee Reservation Portion. However, the initial Allotment will be of Rs 200,000 in case of full or oversubscribed employee category. In the event of under-subscription, the unsubscribed portion will be allotted proportionately to all Eligible Employees who have Bid above Rs 200,000, subject to the maximum limit not exceeding Rs 500,000.
  • Bidding will be made on prescribed Bid cum Application Form or Revision Form (Pink color form).

Equitas SFB IPO - Retail, Shareholding and Employee bidding limit for Individual Investor

    Below table will give you a clear picture on how much to bid for in each category by the retail investor. If you are applying in NII category above Rs 2 lakhs, you can't apply in SH Category and Employee category. So to participate in any of the two categories, you have to apply below 2 lakhs in shareholders quota.

    Please Note: An eligible EHL shareholder bidding in EHL shareholder reservation portion for bid amount below Rs. 2,00,000, can also bid under net offer i.e. in Retail Individual Bidders Portion for upto Rs. 200,000.

    Shareholders Reservation Portion Retail Employee Reservation Portion
    Individual Investor Up to ₹ 2,00,000 Up to ₹ 2,00,000 in Retail Up to ₹ 5,00,000
    Individual Investor Not Allowed Above ₹ 2,00,000 in NII Not Allowed

Equitas SFB IPO Details

Equitas SFB IPO details includes issue size, issue price, discount information, minimum and maximum order quantity, promoters holding details, NSE and BSE code.

Equitas SFB IPO Details
Equitas SFB Issue Details Values
IPO Category Mainline
IPO Issue Type Book Built Issue IPO
IPO Issue Size Rs 517.60 Cr
Offer for Sale 7,20,00,000 shares at ₹33 (Aggregating up to ₹237.60 Cr.)
Fresh Issue 8,48,48,484 shares at ₹33 (Aggregating up to ₹280 Cr.)
Face Value ₹10 Per Equity Share
IPO Issue Price ₹32-33
IPO Discount NIL
Market Lot 450 Shares
Min Retail Qty 450 shares (1 lot)
Max Retail Qty 5850 shares (13 lots)
Promoter Holding Pre IPO 95.49
Promoter Holding Post IPO 82.05
IPO Listing At BSE, NSE
BSE Code TBD
NSE Code TBD

Equitas SFB IPO Live Subscription (NSE + BSE)

The table below is live update of IPO bidding details from NSE and BSE.

  • Qualified Institutional Buyers: 27,975,001 Shares
  • Non-Institutional Investors: 21,487,500 Shares
  • Retail Individual Investor: 50,137,500 Shares
  • Employees Quota: 312,500 Shares
  • Shareholders and Other Quota: 15,937,500 Shares
IPO Bidding Live Updates from BSE + NSE
Day QIBNIIRIIEMPOtherTotal
 # of Shares Offered27,975,00121,487,50050,137,500312,50015,937,500115,850,001
120th Oct 2020 17:020.00x0.03x0.85x0.59x0.14x0.39x
221st Oct 2020 17:020.05x0.05x1.42x0.97x0.24x0.67x
322nd Oct 2020 17:023.91x0.22x2.08x1.84x0.42x1.95x

Equitas SFB Financials for past 3 Years

Past performance and financial results of Equitas SFB.

Equitas SFB financial
Equitas SFB IPO Financials 30-June-2020 31-March-2020 31-Mar-2019 31-Mar-2018
Total Assets ₹20,892.14 Cr ₹19,314.55 Cr ₹15,762.69 Cr ₹13,301.15 Cr
Total Income ₹750.97 Cr ₹2,927.79 Cr ₹2394.83 Cr ₹1772.90 Cr
Total Expense ₹693.30 Cr ₹2,684.16 Cr ₹2,184.27 Cr ₹1,741.07 Cr
Net Profit/Loss ₹57.67 Cr ₹243.64 Cr ₹210.57 Cr ₹31.83 Cr

Equitas SFB IPO Strengths

  • A customer-centric organization with multiple delivery channels.
  • Provides a variety of banking services in mass market customer segments with a focus on serving the financially unserved and underserved segments in India.
  • One among the leading SFBs in terms of branch count(853) and geographical spread across India (Presence in 15 - States/ Union Territories ).
  • Strong growth credentials since inception through high rates of customer retention, geographical expansion, improved productivity, lower credit cost, etc.
  • Technology-driven operating model with an advanced digital platform.
  • Strong digital capabilities with a focus on data analytics.
  • Robust risk management framework to identify, measure, monitor and manage credit, market, liquidity, IT and operational risks.

Equitas SFB IPO Threats/Weaknesses

  • Interest Rate Risk.
  • Significant dependence on micro banking business, including small business loans, microfinance and vehicle finance.
  • Continuous requirement of funds and the bank's inability to access sources of funds in an acceptable and timely manner.
  • Growth strategy depends on the bank's ability to compete effectively as The Indian banking industry is very competitive.
  • Inability to control the level of non-performing assets in portfolio.
  • Bank's success depends on its ability to respond to new technological advances.
  • Dependency on brand recognition and failure to maintain and enhance awareness of its brand.
  • Location dependence as a significant portion of bank customers located in Tamil Nadu.

Equitas SFB IPO Important Dates

In this section we have covered all important dates related to Equitas SFB IPO. Dates are updated as they are announced. The most noted dates are IPO start date and IPO end date, which one should use to participate in IPO.

Equitas SFB IPO important dates
IPO Activity Date
IPO Issue Open Date 20th Oct 2020
IPO Issue Close Date 22nd Oct 2020
Basis of Allotment Finalisation Date* 27th Oct 2020
Refunds Initiation* 28th Oct 2020
Credit of Shares to Demat Account* 29th Oct 2020
IPO Listing Date* 2nd Nov 2020

* - Tentative Dates

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Equitas SFB IPO Draft Prospectus >>Document

Equitas SFB IPO Red Herring Prospectus >>Document

Equitas SFB IPO Allotment Status >>Link

Company Address

Equitas Small Finance Bank Limited
4th Floor, Phase II,
Spencer Plaza No. 769,
Mount Road, Anna Salai
Chennai-TN-600002
Website: www.equitasbank.com
Email: [email protected]
Phone: +914442995000

Registrar

KFin Technologies Private Limited
Selenium, Tower B,
31 & 32 Financial District,
Nanakramguga Serilingampally
Hyderabad-Telangana-500032
E-mail:[email protected]
Website: www.kfintech.com
Contact Person: M. Murali Krishna

Lead Manager

  • JM Financial Limited
  • Edelweiss Financial Services Limited
  • IIFL Securities Limited
Equitas SFB IPO Important dates - Issue Open Date, close Date, IPO Listing Date. IPO Details - Offer Size, Issue Size, Type of IPO, Issue Price, Market Lot, BSE Cd, NSE Cd, IPO Listing date. What is the issue open date and close date for Equitas SFB? Should I apply in Equitas SFB IPO?

Last Updated on 2020-10-28T04:07:54+00:00

Equitas SFB IPO FAQs

  1. 1. How to subscribe Equitas SFB IPO with Zerodha?

    Zerodha allows to apply online in IPOs via their back office software "console". UPI payment mode is to be used to apply online through Zerodha. To purchase Equitas SFB IPO with Zerodha, you must be Zerodha customer and have UPI payment setup. For more details please visit detailed article Step by Step Guide to apply Equitas SFB IPO with Zerodha.

    Alternate approch to apply in Equitas SFB IPO is ASBA. You can use Zerodha DP information and apply online via ASBA with your prefered net banking user id.

    Equitas SFB IPO Review and Important Updates

    How to apply in multiple category for Equitas SFB IPO with Zerodha?

    In case you applying through Zerodha, it allows only one application. They have options for Retail and Shareholding applications, but you can apply only in one category. If you wish to apply in multiple categories, you can submit one application with Zerodha Console and other application from ASBA (Net Banking). Other option is to apply only via ASBA. Self Certified Syndicate Banks (SCSBs) provides 3 different applications for categories - Retail, Shareholder and Employee. Depending on your investment strategy, you can fill multiple applications.

    Other relevant questions :

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  2. 2. How to apply in Equitas SFB IPO online?

    Apply in Equitas SFB IPO online

    To subscribe or apply in Equitas SFB IPO, you can use the following methods:

    Equitas SFB IPO Applying ModeMethodDetails
    Online Application3-in-1 Trading Account

    If your broker is 3-in-1 service provider, you can apply in Equitas SFB IPO directly with your brokers website. Example HDFC Securities, ICICI Direct, AxisDirect are 3-in-1 brokers provide you direct IPO investment.

    Online Application2-in-1 Trading Account

    Brokers like Zerodha, TradeSmart Online provides access to applying in Equitas SFB IPO with their in-house developed platform. You need to apply in IPO via UPI payment method. You must have access of your UPI mandate to apply in IPO online.

    Online ApplicationASBA

    This is one of the most popular mode of applying in Equitas SFB IPO. Most of the Syndicate Banks provide access to apply in Equitas SFB IPO via ASBA process. You must have your net banking access, DP ID information to apply in Equitas SFB IPO via ASBA. Bank like Axis, SBI allows you to apply maximum 5 application from one bank account. However, ICICI, HDFC bank have limit of one IPO ASBA application per account.

    Offline ApplicationPhysical Form

    You can apply in Equitas SFB IPO via physical form, but not with ASBA. Physical Forms need to be filled using UPI mode of payment and need to approve the mandate of UPI with your registered phone number with your UPI provider. You can use BHIM app or banks mobile app who support UPI process like SBI, HSBC, Axis, ICICI, HDFC, Yes Bank, Citi Bank mobile app.

    Equitas SFB IPO Review and Important Updates

    Other relevant question on same topics are:

    Where to subscribe Equitas SFB IPO? Where to apply for Equitas SFB IPO? How to subscribe Equitas SFB IPO online? Equitas SFB IPO where to apply? Where to buy Equitas SFB IPO online? How to buy Equitas SFB IPO online? How to purchase Equitas SFB IPO? How to get Equitas SFB IPO? How to book Equitas SFB IPO? How to invest Equitas SFB IPO? Equitas SFB IPO kaise buy kare?

     

  3. 3. How to download online application form for Equitas SFB IPO?

    Applying in Equitas SFB IPO is very easy and quick process via ASBA. You can use your net banking user id and password to apply in IPO. In case you want to submit physical application, you can download Equitas SFB IPO application online and submit to the nearest bank or to your broker. With new mandate from SEBI, all physical application need to use UPI mode of payment. In such case you have to setup UPI and provide your UPI information in physical application. Once your bank receives your application they will use UPI ID to block your money. You will get UPI mandate and need to approve the same to submit your application.

    For more details on how to use UPI payment method to apply Equitas SFB IPO, please refer article >> Link

    Equitas SFB IPO Review and Important Updates

    Steps to download the online application form for Equitas SFB IPO

    • Step1:Click here.
    • Step2: Click on “Bid-cum Application Form Download
    • Step3: Above Step will open an online form.
    • Step4: Enter your Name, PAN, DP Type, DP Information, UPI No, Bank information (Do not enter), Address, email, phone, Transaction Type - "ASBA".
    • Step5: Fill bid details - min 450 and max 5850 shares (13 lots).
    • Step6: Now fill the character given in Box, read and agree on terms and conditions and click on the download button.
    • Step7: This will fill your application online and give you a pdf file.
    • Step8: Take a print of this document and go to your bank for UPI transactions.
    • Or

    • You can download “Blank Application Form Download” and fill all the required filed and submit to the nearest bank for UPI transaction.

    Other relevant questions:

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  4. 4. What is the listing date of Equitas SFB IPO?

    Equitas SFB IPO is going to be list on 2-11-2020. NSE Code for Equitas SFB is TBD. BSE Code for Equitas SFB is TBD.

    Other relevant questions:

    When Equitas SFB IPO will be listing? Equitas SFB IPO NSE listing date?Equitas SFB IPO date of listing.Equitas SFB IPO BSE listing date?

     

  5. 5. When Equitas SFB IPO will be allocated?

    Equitas SFB IPO Allotment Date is 27-10-2020.

    Other relevant questions:

    Equitas SFB IPO share allotment date?Equitas SFB IPO allotment date?

     

  6. 6. What is the maximum limit to apply in the Equitas Small Finance Bank employee category?

    Employees can apply for the Equitas IPO with the maximum amount of Rs. 500,000 under employee category. However, it is to be noted that firstly, allotment will be made for Rs. 200,000 and later, the allotment will be done proportionately for the application between Rs. 2 Lac to Rs. 5 Lac.

     

  7. 7. In which categories, an employee can apply for the Equitas IPO?

    If you are an Equitas Employee then you can bid for the Equitas SFB IPO under the following categories:

    1. Employee Category: Bid amount up to Rs. 500,000
    2. Shareholder Reservation portion: Bid amount up to Rs. 200,000
    3. Retail category: Up to Rs. 200,000

    Notably, an employee can apply in all three categories and will be eligible to get an allotment.

     

  8. 8. Can I bid at the cutoff price in Equitas IPO EHL Shareholder reservation?

    Eligible shareholders who are applying for the Equitas IPO under the EHL shareholder reservation category for a maximum amount of Rs. 200,000 can bid at the cut off price. It means that the maximum bidding amount to apply for the Equitas IPO at the cut off price is Rs. 200,000.

     

  9. 9. Who can apply in the Equitas Small Finance Bank Shareholder category?

    Anyone who has at least one share of Equitas small finance bank as on 11th October (RHP filling date) will be eligible to apply in the Equitas EHL shareholder category. When you apply in the shareholder category, then the chance of allotments gets higher.

     

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User Comments

avatar
4. Rajan  10/16/2020 12:07:15 AM Reply
I have bought the shares on 9th Oct 2020, Am I eligible for the ShareHolding quota.
avatar
4.1. Vinay Jain  10/16/2020 12:09:09 AM
Share bought on and before 7th Oct 2020 are eligible for shareholding quota. As T + 2 + 2 days(Weekend). So, the logically cutoff date for shareholding eligibility is 7th Oct 2020.
avatar
3. Binod  10/13/2020 1:37:39 PM Reply
EquitasSFB IPO - Issue Information *(Tentative)*

Issue Opens on: 20 Octember 2020
Issue Closes on: 22 Octember 2020
Issue Type: Book Built Issue IPO
Issue Size: 15,20,00,000 Shares
Face Value: Rs.10/- per Share
Issue Price: Rs.34 - Rs.35 per Share *(Tentative)*
Discount: NIL
Market Lot: 428 Shares
Listing At: NSE, BSE

Equity Shares outstanding prior to the Issue = 1,05,34,01,602 Shares
Fresh Issue of Shares 8,00,00,000 @35/- = Rs. 280.00Crs
Offer for Sale of 7,20,00,000 Shares @35/- = Rs.252.00Crs
Equity Shares outstanding after the Issue = 1,13,34,01,602 Shares

Category-wise Break up:
Anchor - 4,56,00,000 Shares = 159.60Crs
QIB - 3,04,00,000 Shares = 106.40Crs
NII - 2,28,00,000 Shares = 79.80CrsTBD
RII - 5,32,00,000 Shares = 186.20Crs (Lot size: 428 = 1,24,299 Forms)
EHL SH Quota = 51 Cr
Empl Quota = 1 Cr
Total Issue - 15,20,00,000 Shares = 532.00Crs.

Subscription required for 1X
RII = 1,24,299 Forms
NII = 79.80 Crs

15th Oct - Announcement of Price Band
19th Oct - Anchor Investors Allotment
20th Oct - Offer Opens
22th Oct - Offer Closes
27th Oct - Finalisation of Basis of Allotment
28th Oct - Unblocking of ASBA Accounts
29th Oct - Credit of Equity Shares to Depository Accounts
30th Oct - Commencement of Trading
avatar
3.1. Vinay Jain  10/13/2020 10:49:22 PM
Cut off date for the shareholding quota is 11th Oct 2020.
avatar
3.2. Bindo  10/15/2020 11:31:11 AM
EquitasSFB IPO - Issue Information *(FINAL)*

Issue Opens on: 20 October 2020
Issue Closes on: 22 October 2020
Issue Type: Book Built Issue IPO
Issue Size: 15,68,48,484 Shares
Face Value: Rs.10/- per Share
Issue Price: Rs.32 - Rs.33 per Share
Discount: NIL
Market Lot: 450 Shares
Listing At: NSE, BSE

Equity Shares outstanding prior to the Issue = 1,05,34,01,602 Shares
Fresh Issue of Shares 8,48,48,484 @33/- = Rs. 280.00Crs
Offer for Sale of 7,20,00,000 Shares @33/- = Rs.237.60Crs
Equity Shares outstanding after the Issue = 1,13,38,250,086 Shares

Category-wise Break up:
Anchor - 4,23,27,273 Shares = 139.68Crs
QIB - 2,82,18,182 Shares = 93.12Crs
NII - 2,11,63,636 Shares = 69.84Crs
RII - 4,93,81,818 Shares = 162.96Crs (Lot size: 450 = 1,08,771 Forms)
EHL SH Quota - 1,54,54,545 Shares = 51.00Crs
Empl. Quota - 3,03,030 Shares = 1.00Crs
Total Issue - 15,68,48,484 Shares = 517.60Crs.

Subscription required for 1X
RII = 1,08,771 Forms
NII = 69.84 Crs

avatar
2. CA Sachin Jain  10/12/2020 10:21:16 AM Reply
Buy one Share of EQUITAS (539844) to participate in Shareholding Quota. The RHP has not yet filled, so you can buy one share. The cutoff date for Shareholder''s quota will be the RHP filling date.
avatar
1. Bindo Kumar  10/12/2020 10:18:09 AM Reply
Equitas SFB GMP: 7 (+/-1)

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