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  Smart Strategies for Investing in Mutual Funds: A Guide to Maximising Your Returns One of the most well-liked investing options for people looking for expert management and diversification without having to choose individual equities is a mutual fund. One of the easiest ways for people to accumulate wealth over time is through mutual fund investments. Mutual funds combine the capital of numerous individuals to invest in a diverse portfolio of stocks, bonds, and other securities, in contrast to direct stock market investing, which necessitates considerable time, study, and risk tolerance. Mutual funds are a well-liked option for both new and experienced investors due to their expert management and diversification. But merely investing in a mutual fund and crossing your fingers seldom yields the best outcomes. A comprehensive approach that matches the appropriate fund selection and management strategies with your financial objectives, risk tolerance, and investment timeline is nece...
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Equitas Small Finance Bank IPO | Initial Public Offering Details

Equitas Small Finance Bank IPO | Initial Public Offering Details

 


The IPO of Equitas Small Finance Bank will come on October 20, 2020. The company has set a target of raising Rs 280 crore under the IPO. This information is given by the company in the regulatory filing. Earlier on October 11, 2020, Equitas Small Finance Bank filed RHP with the Chennai ROC regarding the IPO.

 

This IPO of Equitas Small Finance Bank will be the 12th IPO of 2020. The company has fixed its price band, which will be 32-33 rupees. This IPO will close on October 22, 2020. Let me tell you, Equitas Small Finance Bank is a subsidiary of Equitas Holdings.

 

Equitas Small Finance Bank IPO Details

 

IPO Open date

October 22, 2020

IPO Close Date

October 20, 2020

Issue Type

Book Built Issue IPO

Issue Size

Equity Shares of 10 Rupee
(aggregating up to 517.60 Cr Rupee)

Fresh Issue

Equity Shares of 10
(aggregating up to 280.00 Cr Rupee)

Offer for Sale

72,000,000 Equity Shares of 10 Rupee
(aggregating up to 237.60 Cr Rupee)

Face Value

10 rupee per equity share

IPO Price

32 to 33 rupee per equity share

Retail Discount

0 rupee

Employee Discount

0 rupee

Market Lot size

450 Shares

A Minimum Order Quantity

450 Shares

Listing on

BSE, NSE

 

 

The company was formed in 1993, with Chennai-based Equitas Small Finance Bank Limited (ESFBL) as the second-largest small finance bank in view of banking outlets and assets under management and total deposits. It has a diversified debt portfolio and less reliance on the microfinance business as compared to other microfinance companies. It is the largest distribution channel among Small Finance Banks (SFBs), including 853 banking outlets and 322 ATMs in India across 15 states and union territories.

 

Equitas Small Finance Bank offers microfinance loans promoting financial inclusion, home loans, vehicle loans and MSE loans. Equitas Small Fin Bank provides financial products to customers according to their income profile, type of security available and nature of business. Apart from this, the bank also offers the facility of issuing savings accounts, current accounts, salary accounts other deposit accounts, ATM-cum-debit cards, mutual fund products, third party insurance, and FASTags.

 

Company Financials

 

Description

For the year ended (in crore)

30-Jun-20

31-Mar-20

31-Mar-19

31-Mar-18

Total Assets

20892.14

19314.55

15762.70

13301.16

Total Revenue

750.97

2927.80

2394.90

1772.90

Profit After-Tax

57.68

243.64

210.57

31.9

 

 

The company will issue a total of 15.2 million shares in the IPO. It will issue 8 crore fresh shares. In addition, 7.2 crore shares will be offered for sale. In this IPO, shares worth Rs 1 crore will be reserved for the employees of the bank and shares of Rs 51 crore for the shareholders of Equitas Holdings.

 

The company has appointed JM Financial, Edelweiss Financial Services and IIFL Securities as lead managers for the IPO of Equitas Small Finance Bank. According to a report, Equitas Small Finance Bank is the largest small finance bank in the country in terms of the bank branch numbers. 

 

Equitas Small Finance Bank IPO Timetable

 

Bid/Offer Opens On

October 20, 2020

Bid/Offer Closes On

October 22, 2020

Finalization of Basis of Allotment

October 27, 2020

Initiation of Refunds

October 28, 2020

A Credit of Shares to Demat Acct

October 29, 2020

IPO Shares Listing Date

November 2, 2020

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