Bookbuilding IPO | ₹98 Cr | Listed at NSE SME | Thu, Oct 24, 2024 - Mon, Oct 28, 2024
Usha Financial IPO is a book build issue of ₹98.45 crores. The issue is entirely a fresh issue of 0.59 crore shares of ₹98.45 crore.
Usha Financial IPO bidding started from Oct 24, 2024 and ended on Oct 28, 2024. The allotment for Usha Financial IPO was finalized on Oct 29, 2024. The shares got listed on NSE SME on Oct 31, 2024.
Usha Financial IPO price band is set at ₹168 per share. The lot size for an application is 800. The minimum amount of investment required by an retail is ₹1,34,400 (800 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (1,600 shares), amounting to ₹2,68,800.
Narnolia Financial Services Ltd. is the book running lead manager and Skyline Financial Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is SS Corporate Securities Ltd..
Refer to Usha Financial IPO RHP for detailed Information.
IPO Open
Thu, Oct 24, 2024
IPO Close
Mon, Oct 28, 2024
Issue Price
₹168 per share
Market Cap (Pre-IPO)
₹365.19 Cr
| IPO Date | 24 to 28 Oct, 2024 |
| Listed on | Thu, Oct 31, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹160 to ₹168 |
| Issue Price | ₹168 per share |
| Lot Size | 800 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 58,60,000 shares (agg. up to ₹98 Cr) |
| Reserved for Market Maker | 3,20,800 shares SS Corporate Securities Ltd. (agg. up to ₹5 Cr) |
| Fresh Issue (Ex Market Maker) | 55,39,200 shares (agg. up to ₹93 Cr) |
| Net Offered to Public | 55,39,200 shares (agg. up to ₹93 Cr) |
| Share Holding Pre Issue | 1,58,77,631 shares |
| Share Holding Post Issue | 2,17,37,631 shares |
| NSE Symbol | USHAFIN |
| ISIN | INE0LS001014 |
Usha Financial IPO comprises a total issue size of 58,60,000 shares. The net offer to the public is 55,39,200 shares, after excluding 3,20,800 shares allotted on a firm basis. Of the Net offer 27,68,800 (49.99%) are allocated to QIB, 8,31,200 (15.01%) allocated to NII 19,39,200 (35.01%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 27,68,800 | 49.99% | 47.25% |
| − Anchor Investor Shares Offered | 16,60,800 | 28.34% | |
| − QIB (Ex. Anchor) Shares Offered | 11,08,000 | 18.91% | |
| NII (HNI) Shares Offered | 8,31,200 | 15.01% | 14.18% |
| Retail Shares Offered | 19,39,200 | 35.01% | 33.09% |
| Firm Reservations | |||
| Market Maker Shares Offered | 3,20,800 | 5.47% | |
| Total Shares Offered | 58,60,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 800 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 800 | ₹1,34,400 |
| Retail (Max) | 1 | 800 | ₹1,34,400 |
| HNI (Min) | 2 | 1,600 | ₹2,68,800 |
Usha Financial IPO raises ₹27.90 crore from anchor investors. Usha Financial IPO Anchor bid date is October 23, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Wed, Oct 23, 2024 |
| Shares Offered | 16,60,800 |
| Anchor Portion (₹ Cr.) | 27.90 |
| Anchor lock-in period end date for 50% shares (30 Days) | Thu, Nov 28, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Mon, Jan 27, 2025 |
Incorporated in May 1995, Usha Financial Services Limited is a non-banking finance company providing lending solutions to other NBFCs, corporates, MSMEs, and individuals, particularly women entrepreneurs.
The company also provides Electric Vehicle (EV) financing services. It offers a diversified range of financial products to individuals, body corporates, NBFCs, and MSMEs.
The company has an AUM of Rs. 30,695.76 Lakhs and a Net worth of Rs. 10,602.63 Lakhs. It maintains a CRAR of 33.03% and a D/E Ratio of 1.71.
The company has maintained long-term relationships with its lenders. As of September 30, 2024, the company's lenders included four banks and 15 NBFCs.
The company utilizes two distinct business models to generate revenue: (A) Retail Lending and (B) Wholesale Lending.
The product portfolio of the company consists of the following
Competitive Strength
As of October 2024, the company had 43 employees.
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 351.34 | 335.86 | 372.23 | 164.28 |
| Total Income | 26.81 | 63.96 | 46.19 | 25.31 |
| Profit After Tax | 5.04 | 13.45 | 10.17 | 4.14 |
| NET Worth | 111.07 | 106.03 | 82.07 | 47.68 |
| Reserves and Surplus | 95.19 | 90.15 | 72.66 | 41.09 |
| Total Borrowing | 188.62 | 181.28 | 247.51 | 97.23 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | To Augment the capital base of the Company | 70.00 |
| 2 | To meet out the General Corporate Purposes; | 20.00 |
| KPI | Jun 30, 2024 |
|---|---|
| ROE | 9.29% |
| ROCE | 12.02% |
| Debt/Equity | 1.70 |
| RoNW | 9.29% |
| PAT Margin | 19.02% |
| Price to Book Value | 24.00 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 8.47 | 9.28 |
| P/E (x) | 19.83 | 18.11 |
| Promoter Holding | 98.91% | 72.25% |
| Market Cap | ₹365.19 Cr. |
The Usha Financial Services IPO is subscribed 19.37 times on October 28, 2024 6:20:00 PM (Day 3). The public issue subscribed 20.76 times in the retail category, 10.04 times in the QIB category, and 28.55 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for | Total Application |
|---|---|---|---|---|
| QIB | 10.04 | 11,08,000 | 1,11,27,200 | 13 |
| NII* | 28.55 | 8,31,200 | 2,37,28,000 | 4,027 |
| Retail | 20.76 | 19,39,200 | 4,02,55,200 | 50,319 |
| Total | 19.37 | 38,78,400 | 7,51,10,400 | 54,359 |
Total Application : 54,359
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead manager(s) fees | 0.50 |
| 2 | Underwriting commission | 4.43 |
| 3 | Brokerage, selling commission and upload fees. | 0.02 |
| 4 | Registrars to the issue | 0.03 |
| 5 | Legal Advisors | 0.05 |
| 6 | Printing, advertising expenses | 0.07 |
| 7 | Regulators including stock exchanges | 0.04 |
| 8 | Others, if any (Peer Review Auditors, Market Maker, Marketing expenses and other misc. expenses like stationery etc.) | 3.32 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹168.00 |
| Open | ₹164.00 |
| Low | ₹155.80 |
| High | ₹168.00 |
| Last Trade | ₹155.85 |
Lead Manager Reports
Usha Financial IPO is a SME IPO of 58,60,000 equity shares of the face value of ₹10 aggregating up to ₹98 Crores. The issue is priced at ₹168 per share. The minimum order quantity is 800.
The IPO opens on Thu, Oct 24, 2024, and closes on Mon, Oct 28, 2024.
Skyline Financial Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Usha Financial IPO using UPI as a payment gateway. Zerodha customers can apply in Usha Financial IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Usha Financial IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Usha Financial IPO opens on Thu, Oct 24, 2024 and closes on Mon, Oct 28, 2024.
Usha Financial IPO lot size is 800, and the minimum amount required for application is ₹1,34,400.
You can apply in Usha Financial 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 Usha Financial IPO will be done on Tuesday, October 29, 2024, and the allotted shares will be credited to your demat account by Wed, Oct 30, 2024. Check the Usha Financial IPO allotment status.
The Usha Financial IPO listing date is on Thu, Oct 31, 2024.
