Anand Rathi has come out with its report on Equitas Small Finance Bank. The research firm has recommended to ''Subscribe'' the ipo in its research report as on October 20, 2020
Anand Rathi IPO report on Equitas Small Finance Bank
Equitas Small Finance Bank Limited (Equitas SFB) is one of the leading players in the small finance bank (SFB) space in India, catering the mass market focused on “financially unserved and underserved segments” and committed to promoting financial inclusion in the country. During FY19, Equitas SFB ranked as the largest SFB in India in terms of number of banking outlets, and the second largest SFB in terms of assets under management (AUM) and total deposits. Notably, the company had a market share of 16% in terms of AUM in FY19. The company offers a diversified portfolio of products comprising small business loans, micro finance, vehicle finance, MSE finance, corporates and others.
Valuation and Outlook
We remain positive on Equitas SFB given its diversified loan portfolio, well-managed asset quality, strong capital position, extensive distribution network and healthy growth prospects of the SFB industry. We recommend Subscribe (Long Term horizon) to this IPO.
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