Bookbuilding IPO | ₹2,177 Cr | Listed at BSE, NSE | Tue, Apr 5, 2016 - Thu, Apr 7, 2016
Equitas Holdings IPO is a book build issue of ₹2,176.68 crores. The issue is a combination of fresh issue of 6.55 crore shares aggregating to ₹720.00 crores and offer for sale of 13.24 crore shares aggregating to ₹1,456.68 crores.
Equitas Holdings IPO bidding started from Apr 5, 2016 and ended on Apr 7, 2016. The shares got listed on BSE, NSE on Apr 21, 2016.
Equitas Holdings IPO price band is set at ₹110 per share. The lot size for an application is 135. The minimum amount of investment required by an retail is ₹14,850 (135 shares) (based on upper price). The lot size investment for sNII is 14 lots (1,890 shares), amounting to ₹2,07,900, and for bNII, it is 68 lots (9,180 shares), amounting to ₹10,09,800.
The issue includes a reservation of up to 2,50,000 shares for employees offered at a discount of ₹0.00 to the issue price.
Axis Bank Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Equitas Holdings IPO RHP for detailed Information.
IPO Open
Tue, Apr 5, 2016
IPO Close
Thu, Apr 7, 2016
Issue Price
₹110 per share
Market Cap (Pre-IPO)
₹4,166.03 Cr
| IPO Date | 5 to 7 Apr, 2016 |
| Listed on | Thu, Apr 21, 2016 |
| Face Value | ₹10 per share |
| Price Band | ₹109 to ₹110 |
| Issue Price | ₹110 per share |
| Lot Size | 135 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 19,78,80,429 shares (agg. up to ₹2,177 Cr) |
| Fresh Issue | 6,54,54,545 shares (agg. up to ₹720 Cr) |
| Offer for Sale | 13,24,25,884 shares of ₹10 (agg. up to ₹1,457 Cr) |
| Share Holding Pre Issue | 31,32,75,792 shares |
| Share Holding Post Issue | 37,87,30,337 shares |
| BSE Script Code / NSE Symbol | 539844 / EQUITAS |
| ISIN | INE988K01017 |
Equitas Holdings IPO comprises a total issue size of 19,78,80,429 shares. The net offer to the public is 19,76,30,429 shares, after excluding 2,50,000 shares under a preferential allotment. Of the Net offer 9,88,15,213 (50.00%) are allocated to QIB, 2,96,44,565 (15.00%) allocated to NII 6,91,70,651 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue | Max Allottees |
|---|---|---|---|---|
| QIB Shares Offered | 9,88,15,213 | 50.00% | 49.94% | NA |
| − Anchor Investor Shares Offered | 5,92,89,127 | 29.96% | NA | |
| − QIB (Ex. Anchor) Shares Offered | 3,95,26,086 | 19.97% | NA | |
| NII (HNI) Shares Offered | 2,96,44,565 | 15.00% | 14.98% | NA |
| Retail Shares Offered | 6,91,70,651 | 35.00% | 34.96% | 5,12,375 |
| Preferential Reservations | ||||
| Employee Shares Offered | 2,50,000 | 0.13% | NA | |
| Total Shares Offered | 19,78,80,429 | 100.00% | 100.00% | |
Investors can bid for a minimum of 135 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 135 | ₹14,850 |
| Retail (Max) | 13 | 1,755 | ₹1,93,050 |
| S-HNI (Min) | 14 | 1,890 | ₹2,07,900 |
| S-HNI (Max) | 67 | 9,045 | ₹9,94,950 |
| B-HNI (Min) | 68 | 9,180 | ₹10,09,800 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Incorporated in June 2007, Equitas Holdings Ltd is Chennai based financial services provider focused on individuals and micro and small enterprises (MSEs). Equitas offers services to low income groups and economically weaker individuals operating small businesses and MSEs with limited access to formal financing channels.
Equitas is one of the 10 companies that have been selected by the RBI to set up small finance banks, niche lenders aimed at helping small businesses and farmers get easier access to funding.
Equitas operates in 11 states, one union territory and the NCT of Delhi. As of June 30, 2015, Equitas had 520 branches across India.
Equitas offer a range of financial products and services including:
1. Microfinance
Equitas offers micro loans of Rs 5,000 to Rs 35,000 to its customers. Company is fifth largest microfinance company in India in terms of gross loan portfolio.
2. Vehicle Finance
Equitas offers used commercial vehicle finance to customers. Company is among a few NBFCs in India operating in the used commercial vehicle finance business.
3. Micro and Small Enterprise (MSE) Finance
Equitas provides asset backed financing primarily focused on self-employed individuals operating micro enterprises and small enterprises.
4. Housing Finance
Equitas provides micro-housing and affordable-housing loans to selfemployed individuals who have limited access to loans from banks and larger housing finance companies. A majority of its
micro-housing finance loan accounts represented cross sales to eligible higher income microfinance customers with a satisfactory track record.
Equitas Competitive Strengths:
1. Robust corporate governance standards and transparent operations leading to institutional confidence and customer goodwill
2. Comprehensive understanding and successful track record with underserved customer segment offering significant growth opportunities
3. Standardized operating procedures and efficient use of technology resulting in effective risk management and improved efficiencies
4. Diversified product offering and markets with significant cross-selling opportunities.
5. Experienced management and strong employee engagement
6. Commitment to social initiatives
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Investment in certain of our Subsidiaries, namely, EFL, EMFL and EHFL, to augment their capital base to meet their future capital requirements arising out of growth in our business. | 616.00 |
| 2 | General corporate purposes | 80.64 |
The Equitas Holdings IPO is subscribed 17.21 times on April 7, 2016 10:30:00 PM (Day 3). The public issue subscribed 1.4 times in the retail category, 14.93 times in the QIB category, and 57.29 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 14.93 | 3,98,26,336 | |
| NII | 57.29 | 2,97,34,640 | |
| Retail | 1.4 | 6,93,80,826 | |
| Employee | 0.89 | 2,50,000 | |
| Total | 17.21 | 13,91,91,802 |
The public issue of Equitas consist of:
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLMs fees and commissions (including underwriting commission, brokerage and selling commission) | 37.56 |
| 2 | Commission/processing fee for SCSBs | 0.53 |
| 3 | Brokerage and selling commission for Registered Brokers(3), RTAs and CDPs | 5.48 |
| 4 | Registrar to the Issue | 1.15 |
| 5 | Listing fees, SEBI filing fees, bookbuilding software fees | 4.77 |
| 6 | Printing and stationery | 1.94 |
| 7 | Advertising and marketing expenses | 10.32 |
| 8 | Miscellaneous and other expenses | 7.63 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹110.00 | ₹110.00 |
| Open | ₹144.00 | ₹145.10 |
| Low | ₹134.15 | ₹134.30 |
| High | ₹147.00 | ₹147.00 |
| Last Trade | ₹135.25 | ₹135.20 |
Lead Manager Reports
Equitas Holdings IPO is a main-board IPO of 19,78,80,429 equity shares of the face value of ₹10 aggregating up to ₹2,177 Crores. The issue is priced at ₹110 per share. The minimum order quantity is 135.
The IPO opens on Tue, Apr 5, 2016, and closes on Thu, Apr 7, 2016.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Equitas Holdings IPO using UPI as a payment gateway. Zerodha customers can apply in Equitas Holdings IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Equitas Holdings IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Equitas Holdings IPO opens on Tue, Apr 5, 2016 and closes on Thu, Apr 7, 2016.
Equitas Holdings IPO lot size is 135, and the minimum amount required for application is ₹14,850.
You can apply in Equitas Holdings IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Equitas Holdings IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Equitas Holdings IPO allotment status.
The Equitas Holdings IPO listing date is on Thu, Apr 21, 2016.
