Nuvama Investment Bank has successfully closed the QIP transaction for IDFC First bank, this being our 5th INR 1,000 Crs+ transaction (QIPs & IPOs) of Lending Companies in last 30 months

Deal Details

QIP received an overwhelming response from investors
- ~71% of the book was allocated to ‘Long Only’ Investors
- ~43% of the book was allocated to Domestic Institutional Investors
Deal was launched within record timelines ~2 weeks from kick off

Contribution

With IDFC First Bank QIP, Nuvama has successful closed “Five” ₹10,000 mn+ transactions* of Lending Companies in the last 30months
Dominated procurement in the QIP – Highest overall share of ~31% share in terms of amount procured
Garnered participation from a diverse investor set including Global Pension Fund, LO FIIs, Mutual Fund, Insurance Companies and LO DIIs
- Highest number of investors converted (14/36) and 56% of the Domestic / India Focused Investors
Nuvama worked closely with the Bank through the entire QIP process including post issue activities to ensure smooth and successful closure

About

IDFC First Bank is a digital led bank with a well diversified product suite with specialized focus on retail, rural and SME Segment, strong brand positioning and a growing distribution network across India

Successfully closed the 2nd QIP Transaction for Union Bank of India being the “Banker of Choice”

Deal Details:

QIP helped in achieving dual objectives of augmenting Tier I Capital which will aid growth plans as well as reach significantly closer to achieving Minimum Public Shareholding (MPS) norms
Offering received an overwhelming response from investors – a testimony to strong financial performance demonstrated by Union bank of India
~65% of the book was allocated to ‘Long Only’ Investors

Contribution:

With this QIP, Nuvama has successfully closed the 2nd transaction for Union Bank of India being the “Banker of Choice”
Dec’17 – QIP (INR 20,000 M) | Aug’23 – QIP (INR 50,000 M)
Nuvama garnered participation from a diverse investor set including Marquee FII and DII investors
Nuvama worked closely with the Bank through the entire QIP process including post issue activities to ensure smooth and successful closure

About:

Union Bank of India is the 5th largest# Public Sector Bank in India* with a rich legacy of serving the people of India since 1919.

Mizuho Leasing acquired 51% stake in Rent Alpha, a leading and diversified player in the Indian equipment leasing industry

Deal Details:

Mizuho Leasing acquired 51% stake in Rent Alpha, a leading and diversified player in the Indian Equipment leasing industry.
With this acquisition, as a consolidated subsidiary of Mizuho Leasing, Rent Alpha Group’s financing capabilities will not only get a fillip but will also help it to rapidly scale its business.

Contribution:

Played the crucial role of hand-holding the client through the complex M&A process and deeply engaged with multiple investors and successfully garnered interest.
Devised a transaction structure within the ambit of the applicable regulations, creating a win-win outcome for all the parties
End-to-End project management ensuring smooth closure

About:

Founded in 2013, Rent Alpha and its 100% non-bank finance subsidiary Capsave Finance have risen to become one of India’s top equipment leasing companies by providing equipment rental solutions to corporate customers for IT equipment, office furniture, medical equipment and plant & machinery.

Lead Manager to Indiabulls Housing Finance Limited for their Public Issue of Secured NCDs

Lead Manager to IIFL Finance Limited for their Public Issue of Secured NCDs

Lead Manager to Indiabulls Housing Finance Limited for their Public Issue of Secured NCDs

Book Running Lead Manager to the IPO of Five-Star Business Finance Limited

I] TRANSACTION SYNOPSIS

IPO Size	~₹ 15,885 MN
IPO Structure (Primary / OFS)	– / 100%
Post Issue Dilution	~11.50%
IPO Price	₹ 474

II] SELECT ANCHOR INVESTORS AND ANCHOR BOOK

Capital Research
Fidelity
ENAM
ADIA
Norges Bank
HDFC MF
WhiteOak
SBI Life Insurance
Carmignac Gestion

III] DEAL HIGHLIGHTS

With Five-Star’s IPO, we have successfully closed all ₹ 15,000 mn+ IPOs of all private lending companies in last 4 years
We were the only Bank to successfully close 2 Pre-IPO transactions and generate deal momentum – Highest share in the 2 Pre-IPO transactions with a ~76% share out of ~₹ 4,000 mn raised
Spearheaded procurement in the Pre-IPO and Anchor Segment – Highest overall share of ~51% share in terms of amount and Highest number of investors converted (9/19)
Dominated procurement in the Main Book of the IPO – Procured overall largest QIB Bid & largest MF Bid
Despite muted subscription and market volatility over past 2 weeks and correction of ~3%@, Five-Star’s IPO saw a steady listing with stock price seeing days high of ~8% and closing at ~5% above opening price^

^NSE Prices are considered; @ Movement of Nifty 50 between 2 weeks high and low

Lead Manager to Indiabulls Housing Finance Limited for their Public Issue of Secured NCDs

Exclusive financial advisor to Kinara Capital for its successful equity fund raise

Deal Highlights:

We successfully advised Kinara on its fresh equity round led by British International Investment, the UK’s development finance institution and impact investor with investments in over 1,300 businesses and total assets of £7.7 billion, with participation from existing investors Nuveen & Triple Jump’s AMP Fund
This equity investment will aim to propel Kinara Capital to grow 5x by 2025 and reach an AUM of INR 60,000 million by democratizing access to formal financial inclusion with its myKinara App

About Kinara Capital:

Kinara Capital is a fast-growing fintech propelling financial inclusion of small business entrepreneurs in India
One of the few Companies that has delivered growth, profitability & resilience despite multiple economics shocks over the past 7 years
Kinara offers both a fully digital process with its vernacular-friendly myKinara app and doorstep customer service with 125 branches serving small business entrepreneurs across 100+ cities in India
Powered by advanced use of AI/ML, the company’s app can process a loan application & disburse within 24-hours
Headquartered in Bangalore, Kinara Capital is qualified as a Systemically Important NBFC by the Reserve Bank of India, Kinara Capital is a debt-listed entity on the Bombay Stock Exchange (BSE)