Book Running Lead Manager to the IPO of Equitas Small Finance Bank Limited

Initial Public Offering

Service

October 2020

Date

Financial Institutions

Sector

INR 5,167 MN

Deal Value

Book Running Lead Manager to the IPO of Equitas Small Finance Bank Limited

Deal Highlights:

  • 2nd IPO by the Equitas Group (Equitas Holdings – Apr’ 16 and now Equitas Small Finance Bank)
  • The deal saw good demand across categories with QIB being subscribed by ~4x and an overall subscription of ~2x
  • First IPO in the banking space post Covid-19, one of the toughest times for the sector amid regulatory uncertainty and sectoral headwinds
  • Deal saw participation from marquee institutional investors including Long-Only FIIs, MFs and Leading Life Insurance Companies

Our Contribution:

  • We were the only common banker to both the IPOs by the Equitas Group (Equitas Holdings – Apr’ 16 and now the Equitas SFB IPO)
  • We led the positioning efforts, highlighting the bank’s core strength with focus on serving the financially unserved and underserved customer segments in India
  • Provided end-to-end handholding and guidance to the bank on various deal contours and timing