Equitas Small Finance Bank Ltd

Equitas Small Finance Bank Ltd

Incorporated in 1993, Madras based Equitas Small Finance Bank Ltd (ESFBL) in Fiscal 2019 was the largest small finance bank in India considering banking outlets and the 2nd largest small finance bank considering assets under management and total deposits. Unlike other microfinance companies, it has a diversified loan portfolio and less dependence on microfinance business. With the main focus on financially unserved and underserved customers, the bank offers a wide range of banking products and services.

The company provides microfinance loans promoting financial inclusion, housing finance, vehicle finance, and MSE finance. Equitas Small Fin Bank offers financial products according to customers' income profile, type of security available and nature of business.

Apart from this, the bank also provides current accounts, salary accounts, savings accounts, other deposit accounts, ATM-cum-debit cards, mutual fund products, third party insurance, and issuance of FASTags.

ESFBL follows credit assessment procedures through a risk management framework which is analyzed by its Risk Management Committee. As on 30th Sep 2019, it has the largest distribution channel among Small Finance Banks (SFBs) including 853 Banking Outlets and 322 ATMs in India across 15 states and union territories.


Competitive Strengths:

1. A customer-centric organization with a focus on unserved and underserved segment
2. A well-diversified asset portfolio as SFB
3. Strong retail liability portfolio
4. Credit assessment procedures


Company Promoters:

Equitas Holdings Limited is the promoter of the company.

 

Equitas Holdings (EHL) Shareholders Reservation in IPO:

Investors who hold EHL shares on October 11, 2020, are eligible to apply under the shareholder's category of Equitas Small Finance Bank IPO. The company reserved 10% of the offer for Shareholders (approximate ₹51 Cr). The EHL shareholders can apply up to ₹2 lakh in the Shareholders category. EHL shareholders can also apply under the retail category. Further, if an EHL shareholder is also an employee, he/she is also eligible to apply in all the three categories- RII (up to ₹2 lakhs), Shareholder (up to ₹2 lakhs) and Employees (up to ₹5 lakhs).

 

Equitas Holdings Employees Reservation in IPO:

Full-time or permanent employees of EHL can apply in the Employees category of Equitas Small Finance Bank IPO. The maximum limit defined to apply in the Employee category is ₹5 lakhs. The maximum allotment to employees cannot be above ₹2 lakhs when the category is fully or oversubscribed. In case of under-subscription in the employee category, the unsubscribed portion will be available for allocation, proportionately to all Eligible Employees who Bid above ₹2 lakhs, subject to a maximum limit not exceeding ₹5 lakhs.

Company Financials:

Particulars For the year/period ended (₹ in Million)
Summary of financial Information (Restated) 30-Jun-20 31-Mar-20 31-Mar-19 31-Mar-18
Total Assets 208,921.39 193,145.47 157,626.91 133,011.50
Total Revenue 7,509.68 29,277.95 23,948.32 17,729.03
Profit After Tax 576.71 2,436.35 2,105.66 318.31

 

 

Objects of the Issue:

The bank proposes to utilize the Net Proceeds from the fresh issue offer towards augmenting the Bank's Tier I capital base to meet the future capital requirement.

(Read Detailed Report)


Issue Details

Equitas Small Finance Bank Ltd IPO ISSUE OPENS
ISSUE OPENS
Tuesday, October 20, 2020
Equitas Small Finance Bank Ltd ISSUE CLOSES
ISSUE CLOSES
Thursday, October 22, 2020
Equitas Small Finance Bank Ltd IPO ISSUE PRICE
ISSUE PRICE
₹32 to ₹33 per equity share
Equitas Small Finance Bank Ltd IPO  BID LOT
BID LOT
450 Equity shares & multiple of 450 Equity shares thereafter.
Equitas Small Finance Bank Ltd IPO - IPO SIZE
IPO SIZE
₹ 517.60 Cr
Equitas Small Finance Bank Ltd IPO - LISTING EXCHANGES
LISTING EXCHANGES
NSE & BSE
Equitas Small Finance Bank Ltd IPO - ALLOTMENT DATE
ALLOTMENT DATE
Tentatively Wednesday, October 28, 2020
Equitas Small Finance Bank Ltd IPO - RATIO
RATIO
QIB 50% - Retail 35% - NIB 15%

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