Capital Small Finance Bank IPO sees 50% subscription on 1st day of bids

Capital Small Finance Bank IPO closes on February 9

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The Capital Small Finance Bank IPO has seen 50 percent subscription on February 7, the first day of bidding. All categories of investors participated in the public issue, buying in total 40.83 lakh equity shares against an offer size of 81.47 lakh shares.

Retail investors were at the forefront to support the issue, picking 67 percent shares of allotted quota, followed by non-institutional investors (high networth individuals) who bought 38 percent shares, and qualified institutional investors 29 percent of the reserved portion.

The Punjab-based small finance bank intends to raise Rs 523.07 crore through its public issue of 1.1 crore equity shares at the upper end of price band of Rs 445-468 per share.

Of this, Rs 157 crore has already been raised from anchor investors on February 6, a day before the Capital Small Finance Bank IPO opening.

Whiteoak Capital, Ashoka India Equity Investment Trust, 360 ONE Mutual Fund, Ananta Capital Ventures Fund, HDFC Life Insurance Company, Edelweiss Tokio Life Insurance, ICICI Prudential Life Insurance Company, and Kotak Mahindra Life Insurance Company were among anchor investors participated in the public issue.

Also read: Jana Small Finance Bank IPO booked 88% on day 1; retail, HNIs portion subscribed 1.2x each

The Capital Small Finance Bank IPO, which closes on February 9, is a mix of fresh issue of shares worth Rs 450 crore and an offer-for-sale of 15.61 lakh equity shares worth Rs 73.07 crore by the existing shareholders including investors Oman India Joint Investment Fund II, and Amicus Capital.

The small finance bank with banking products business operations in Punjab, Haryana, Delhi, Rajasthan, Himachal Pradesh and Union Territory of Chandigarh will use net fresh issue proceeds mainly for augmenting its Tier – I capital base to meet future capital requirements.

Also read: Rashi Peripherals IPO fully subscribed on 1st day of bidding with retail, HNI support