Capital Small Finance Bank IPO: This bank is ready for a spectacular listing on Valentine’s Day, movement seen in the gray market
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Capital Small Finance Bank IPO Listing: The listing of Capital Small Finance Bank is going to happen today. Before this, there is movement in the gray market regarding bank shares. Experts are saying that there is a possibility of a great listing of the bank. According to data available on the National Stock Exchange, 81,47,373 shares have been offered under this issue of Rs 523 crore. A total of 3,26,04,288 shares were bid on the third day. The retail individual investors (RII) segment was subscribed 2.49 times while the non-institutional investors category was subscribed 4.05 times. Apart from this, the section reserved for eligible institutional buyers has received subscription of 6.64 times.
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In the year 2015, this bank became the first non-NBFC microfinance unit to obtain SFB license.
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This small finance bank has a strong presence in semi-urban and rural areas.
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The bank is trying to collect Rs 523.07 crore from the market through IPO.
How is the performance of the bank?
The bank targets the middle income customer segment with an annual income of ₹0.4-5 million. They aim to become the primary banker for these customers through a mix of product offerings, customer service, physical branches and digital channels. Capital Small Finance Bank Limited’s revenue grew by 14.72% and profit after tax (PAT) grew by 49.59% between the financial year ending March 31, 2023 and March 31, 2022.
What will the company do with the money?
The Bank proposes to use the net proceeds from the fresh issue to enhance the Tier-I capital base of the Bank to meet its future capital requirements. As the Bank is growing its loan portfolio and asset base, the Bank is expected to require additional capital to meet the capital adequacy ratios applicable in respect of its business. The bank will also use the money to increase its loan capacity.
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