Nuvama Investment Banking has successfully closed the QIP transaction of INR 45,000 mn for Bank of India

Deal Details

  • QIP helped in achieving dual objectives of augmenting Tier I Capital which will aid growth plans as well as achieving Minimum Public Shareholding (MPS) norms
  • Offering received an overwhelming response from investors – a testimony to strong financial performance demonstrated by Bank of India
  • ~70% of the book was allocated to ‘Long Only’ Investors

Contribution

  • Spearheaded Demand Mobilisation in a 7 bank Syndicate
    • ~21% demand in terms of amount procured and highest share of 29 investors in terms of number of investors
    • Garnered disproportionately highest share of ~31% demand in terms of the amount procured under the FII category
  • Nuvama worked closely with the Bank through the entire QIP process to ensure smooth and successful closure
  • With this QIP, Nuvama has successfully closed the 2nd transaction for Bank of India

Nuvama Investment Banking acted as the Book Running Lead Manager to the INR 4,630 mn IPO of ESAF Small Finance Bank

Deal Details

  • Deal saw strong participation across investor categories garnering more than INR 25,000 crs
    • QIB – ~182x, HNI – ~88x, Retail – ~17x
    • Highest QIB subscribed IPO amongst all the SFB IPOs till date
  • Company saw stellar IPO Listing with equity shares opening at 18.3%# premium showcasing investor confidence in Company’s business and management team

Contribution

  • Nuvama played a central role in the IPO by bringing key cornerstone investors completely driving the momentum of the issue as well as guiding the management on entire process, deal contours & timing
  • Dominated procurement in the Anchor in a 3 bank syndicate – Highest overall share of ~54% share in terms of amount procured and 45% in terms of number of anchor investors converted
  • Nuvama garnered participation from a diverse investor set including ‘Long Only’ FII, IC and Family Offices
  • Pushed the story aggressively through our distribution channel to garner strong interest in HNI & Retail category resulting in 16 lakh+ applications