IPO Status: Closed [20th Oct 2020 to 22nd Oct 2020]
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.)
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.
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 includes issue size, issue price, discount information, minimum and maximum order quantity, promoters holding details, NSE and BSE code.
| 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 |
The table below is live update of IPO bidding details from NSE and BSE.
| Day | QIB | NII | RII | EMP | Other | Total | |
|---|---|---|---|---|---|---|---|
| # of Shares Offered | 27,975,001 | 21,487,500 | 50,137,500 | 312,500 | 15,937,500 | 115,850,001 | 1 | 20th Oct 2020 17:02 | 0.00x | 0.03x | 0.85x | 0.59x | 0.14x | 0.39x | 2 | 21st Oct 2020 17:02 | 0.05x | 0.05x | 1.42x | 0.97x | 0.24x | 0.67x | 3 | 22nd Oct 2020 17:02 | 3.91x | 0.22x | 2.08x | 1.84x | 0.42x | 1.95x |
Past performance and financial results of Equitas SFB.
| 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 |
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.
| 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
Last Updated on 2020-10-28T04:07:54+00:00
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
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.
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To subscribe or apply in Equitas SFB IPO, you can use the following methods:
| Equitas SFB IPO Applying Mode | Method | Details |
| Online Application | 3-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 Application | 2-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 Application | ASBA | 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 Application | Physical 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
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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
Or
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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?
Equitas SFB IPO Allotment Date is 27-10-2020.
Other relevant questions:
Equitas SFB IPO share allotment date?Equitas SFB IPO allotment date?
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.
If you are an Equitas Employee then you can bid for the Equitas SFB IPO under the following categories:
Notably, an employee can apply in all three categories and will be eligible to get an allotment.
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.
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.
