Equitas Small Finance Bank Ltd IPO (Equitas Small Finance Bank IPO) Detail

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Incorporated in 1993, Chennai based Equitas Small Finance Bank Ltd (ESFBL) was the largest small finance bank in India in Fiscal 2019 considering banking outlets and the 2nd largest small finance bank considering assets under management and total deposits. Unlike other microfinance companies, it has a diversified loan portfolio and less dependence on microfinance business. With the main focus on financially unserved and underserved customers, the bank offers a wide range of banking products and services.

The company provides microfinance loans promoting financial inclusion, housing finance, vehicle finance, and MSE finance. Equitas Small Fin Bank offers financial products according to customers' income profile, type of security available and nature of business.

Apart from this, the bank also provides current accounts, salary accounts, savings accounts, other deposit accounts, ATM-cum-debit cards, mutual fund products, third party insurance, and issuance of FASTags.

ESFBL follows credit assessment procedures through a risk management framework which is analyzed by its Risk Management Committee. As on 30th Sep 2019, it has the largest distribution channel among Small Finance Banks (SFBs) including 853 Banking Outlets and 322 ATMs in India across 15 states and union territories.

Competitive Strengths

1. A customer-centric organization with a focus on unserved and underserved segment
2. A well-diversified asset portfolio as SFB
3. Strong retail liability portfolio
4. Credit assessment procedures

Equitas Holdings (EHL) Shareholders Reservation in IPO

Investors who hold EHL shares on October 11, 2020, are eligible to apply under the shareholder's category of Equitas Small Finance Bank IPO. The company reserved 10% of the offer for Shareholders (approximate Rs 51 Cr). The EHL shareholders can apply up to Rs 2 lakh in the Shareholders category. EHL shareholders can also apply under the retail category. Further, if an EHL shareholder is also an employee, he/she is also eligible to apply in all the three categories- RII (up to Rs 2 lakhs), Shareholder (up to Rs 2 lakhs) and Employees (up to Rs 5 lakhs).

Equitas Holdings Employees Reservation in IPO

Full-time or permanent employees of EHL can apply in the SBI Employees category of Equitas Small Finance Bank IPO. The maximum limit defined to apply in the Employee category is Rs 5 lakhs. The maximum allotment to employees cannot be above Rs 2 lakhs when the category is fully or oversubscribed. In case of under-subscription in the employee category, the unsubscribed portion will be available for allocation, proportionately to all Eligible Employees who Bid above Rs 2 lakhs, subject to a maximum limit not exceeding Rs 5 lakhs.

• * Unless the Employee Reservation Portion is under-subscribed, the value of allocation to an Eligible Employee shall not exceed Rs 200,000. In the event of under-subscription in the Employee Reservation Portion, the unsubscribed portion may be allocated, on a proportionate basis, to Eligible Employees Bidding in the Employee Reservation Portion for value exceeding Rs 200,000, subject to total Allotment to an Eligible Employee not exceeding Rs 500,000.
• ** Subject to minimum Bid Lot

Important Clarifications

• Zerodha allows 1 IPO application per customer even though the option is available for applying in the retail and shareholders category. To apply the 2nd application, please use your net banking facility.
• The shareholder list is prepared on PAN. Shareholders can apply from a different demat account (on the same name) where they do not hold EHL shares.
• An investor will be identified by the PAN Number and not the Demat Account.
• When using UPI as a payment method, the primary account holder in the bank and demat should be the same person. Use of 3rd party UPI ID or 3rd party bank account is not allowed.
• When using ASBA, up to 5 IPO applications can be applied from the same bank, if the bank offers this facility. Public sector banks (like SBI) offer this facility.
• Minors can only apply using ASBA from the banks that offer the 3rd Party ASBA IPO application. i.e. SBI. Click here for more detail.

DRHP Addendum

Date: September 25, 2020

Pursuant to relaxation permitted by SEBI, the company had filed an addendum to its DRHP revising its Offer Size for the proposed IPO of its equity shares as below:

• the size of the Fresh Issue has been reduced from up to Rs 5,500 million to up to Rs 2,800 million;
• the number of Equity Shares offered through the Offer for Sale by the Company, has been reduced from up to 80,000,000 Equity Shares to up to 72,000,000 Equity Shares;
• the Employee Reservation Portion for Eligible Employees has been reduced from up to Rs 50 million to up to Rs 10 million; and
• the EHL Shareholder Reservation Portion for Eligible EHL Shareholders has been reduced from up to Rs 1,000 million to up to Rs 510 million.

Equitas Small Finance Bank IPO Subscription Status (Bidding Detail)

The Equitas Small Finance Bank IPO is subscribed 1.95x times on Oct 22, 2020 17:00. The public issue subscribed 2.08x in the retail category, 3.91x in the QIB category, and 0.22x in the NII category. Check Day by Day Subscription Details (Live Status)

Category	IPO Subscription
QIB	3.91x
NII	0.22x
RII	2.08x
Employee	1.84x
Others	0.42x
Total	1.95x

Equitas Small Finance Bank IPO Prospectus

•   ›  Equitas Small Finance Bank IPO DRHP
•   ›  Equitas Small Finance Bank IPO RHP

Equitas Small Finance Bank IPO Rating

1634

3.9

Rating:

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427. Equitas small finance bank care |Dec 9, 2020 17:15

Equitas small finance bank Customer care toll free helpline number +91-839-2064-051. Contact here for balance or any different enquiry.

426. IPOANALYSIS |Nov 20, 2020 20:42
IPO Guru (1900+ Posts, 1500+ Likes)

Despite market rallying this stock is not performing. Equitas parent company is half the issue price. People should switchover to better stocks as can't expect returns from equitas small finance

425. RUPAM SHARMA |Nov 12, 2020 15:03

SIR I apply for ipo equitas bank for 2lot of 450each but I get 630 and my money cut for 810share how did I get refund balance amt till 12nov my BAL amt not credit what to do

424. mDelhi |Oct 28, 2020 11:45

First time I was not sure about apply an IPO or not
First time I ignored the senior members view/advice
First time I applied without any emotion and view

In short, I bet on a lottery IPO, got allotment and now see how the bet goes further :)

424.1. mDelhi |Nov 5, 2020 13:44

Lottery nahi laggi but flop bhi nahi hui
Now see how it will go for longer run

423. ganesh jaiswal |Nov 3, 2020 05:10
IPO Mentor (600+ Posts, 300+ Likes)

Equitas SF bank is not a bad company, but the hanging sword of time to timeFPO/OFS of this share till next year will not allow this share to gain. The promoters should have reduced their holding as one go as per the RBI guidelines, this hanging sword will bring prices down only.

422. Regulagedda Ambica Prasad |Nov 2, 2020 15:33
Top Contributor (200+ Posts, 100+ Likes)

today it touched high of 33.15.
Gamble of making 1 application under SH quota is not that bad.
Hopefully it will turn green from tomorrow onwards due to high QIB demand

421. NforNandkishor |Nov 2, 2020 09:28
Top Contributor (400+ Posts, 600+ Likes)

Aaj ESFB ki listing hue hai.
Forum mein itna sannata kyo hai bhai?

Load more comments (1 replies)

421.1. techuser |Nov 2, 2020 10:05
Top Contributor (400+ Posts, 300+ Likes)

@Nandkishorji, IPO hangover seems to be over :)

421.2. NforNandkishor |Nov 2, 2020 10:15
Top Contributor (400+ Posts, 600+ Likes)

@techuser,

I totally know ESFB issue ruined IPO sentiments.

Gland Pharma IPO is coming in Diwali. I am finding Gland Pharma business very attractive.

It's a Indian company with Chinese promotors, but company business model is unique in India.

IPO size is big, so retailers will have good chance of allotment. Let admin open the page and ipo price band is declared. Then we can come to some conclusion

421.3. techuser |Nov 2, 2020 14:05
Top Contributor (400+ Posts, 300+ Likes)

@Nandkishorji, Yeah agree with you.

In fact, it's not only ESFB, but the UTI (discount) and Mazagon (below expected even though HUGE subscription) listings are disappointing.

Gland Pharma seems to be quite big size ipo, 6000 crore, and thus good chances of allotment to retail. Again, as we've seen in past, whenever there's a sure shot allotment for retailers, there's nothing left on the table (latest ex: SBI Cards). Basically, no one wants retailers earn very easily.

So let's hope for the best in upcoming IPOs!

420. Pradip IPO |Nov 2, 2020 07:03
Top Contributor (300+ Posts, 400+ Likes)

Admin Ji

Please open New Page for " Gland Pharma IPO "

Thank you.

Load more comments (1 replies)

420.1. Devenblt |Nov 2, 2020 07:16

It's too early

Ipo comes after 5.12.2020

As per grey market broker

420.2. ganesh jaiswal |Nov 2, 2020 10:13
IPO Mentor (600+ Posts, 300+ Likes)

Today Economic Times also reported 6000 Crore IPO of Gland Pharma next week

420.3. sonal patel |Nov 2, 2020 12:07
IPO Mentor (900+ Posts, 3800+ Likes)

New page is open..

419. sonal patel |Nov 2, 2020 10:37
IPO Mentor (900+ Posts, 3800+ Likes)

Hyderabad-based Gland Pharma’s Rs 6,000 crore initial public offer (IPO) is set to hit the market next week..

418. amit K singh |Nov 2, 2020 09:37
IPO Mentor (700+ Posts, 1200+ Likes)

Listed in discount as per expectations...

417. IPOANALYSIS |Oct 30, 2020 23:44
IPO Guru (1900+ Posts, 1500+ Likes)

Listing price below 30 rs. Just sell on listing as this stock will be available at less than half value which is 16 rs within 1 year.

417.1. IPOANALYSIS |Nov 2, 2020 08:05
IPO Guru (1900+ Posts, 1500+ Likes)

As predicted listing will be below 30 rs with negative bias. Just sell on opening to avoid further loss.

416. Paymzia |Nov 2, 2020 07:37
IPO Guru (1200+ Posts, 3100+ Likes)

Gland pharma ipo may come next week

415. Jasvinder Singh |Nov 2, 2020 06:25

Wish you all Happy Pre Diwali listing

414. NforNandkishor |Oct 31, 2020 10:46
Top Contributor (400+ Posts, 600+ Likes)

Those who have purchased 1 share of equitas holding for applying in shareholders category ipo, should accumulate more 20-50 shares at current market price. Sell those shares @51-55 range to recover dp charges and other expenses. Company is going to get 237 Cr from ofs of ESFB. So it's balance sheet will be a bit stronger. So in long term parent company EQUITAS is a better bet than ESFB

Load more comments (2 replies)

414.1. Np patel |Oct 31, 2020 12:09

thanks :)

414.2. Ankur Goel |Nov 1, 2020 00:20
Top Contributor (200+ Posts, 100+ Likes)

Do we invest in market to recover dp charges & other expenses. If there is good opportunity in Equitas holding then we should invest for profit not to cover dp & other charges which will be merely 25-30 rupees only.

414.3. NforNandkishor |Nov 1, 2020 01:09
Top Contributor (400+ Posts, 600+ Likes)

@ Ankur sir, sorry if I have hurt your sentiment. There is a proverb - One shoe does not fit all. That's why I have given two options

1. Invest in long term because I can see only one good opportunity in equitas, rs 237 Cr coming from ofs. But, if market falls, equitas may bleed more. No one can guarantee you whether it will go up or down. That's why I have given another option

2. Also, you can purchase few shares of equitas on experiment basic and can exit the script later when you see some profit. Doing experiments with small amount gives your better experience in market. You will not end up with huge losses atleast.

There are other options but that are not very much significant like
3. Sell single share @48
4. Hold single share in portfolio and do nothing with it

Choice is yours, you can choose anyone.

414.4. tnk |Nov 1, 2020 21:00

Just like there is an upper ceiling on brokerage chargeable of 2.5%, Sebi should also make sure that DP charges of total sale value of shares below Rs 50 or 100, should have a DP charge of Rs 5 only.
25 shares of rcom bought at higher levels will not give you anything now after deducting DP charges

413. NSN AT IPO |Oct 30, 2020 12:55

Surprised to hear about ASHOK LEYLANDs fantastic sale numbers during this festival month. No Covid effect?

413.1. HML |Nov 1, 2020 20:55
IPO Guru (1000+ Posts, 2400+ Likes)

Because PM put Railway into Coma.Taken oath and bribe to privatise all public assets.????
New railway IPOs are the only hopeful things left behind from indian railway.

413.2. mDelhi |Nov 1, 2020 20:58

I think passengers train were on halt, cargo train are running

412. Eagleye |Nov 1, 2020 17:51
IPO Guru (5800+ Posts, 19500+ Likes)

Burger King India IPO – Schedule *(Tentative)*

??th Nov – Announcement of Price Band
??th Nov – Anchor Investors Allotment
??th Nov – Offer Opens
??th Nov – Offer Closes
??th Nov – Finalisation of Basis of Allotment
??th Nov – Unblocking of ASBA Accounts
??th Nov – Credit of Equity Shares to Depository Accounts
??th Nov – Commencement of Trading


Burger King India IPO – Issue Information *(Tentative)*

Issue Opens on: ?? November 2020
Issue Closes on: ?? November 2020
Issue Type: Book Built Issue IPO
Issue Size: 16,22,72,727 Shares
Face Value: Rs.10/- per Share
Issue Price: Rs.43 – Rs.44 per Share *(Tentative)*
Discount: NIL
Market Lot: 340 Shares
Listing At: NSE, BSE

Equity Shares outstanding prior to the Issue = 29,09,41,785 Shares
Fresh Issue of Shares 12,31,63,636 @44/- = Rs.541.92Crs
Offer for Sale of 6,00,00,000 Shares @44/- = Rs.264.00Crs
Less: Pre-IPO Placement of (2,08,90,909) Shares @44/- = Rs.(91.92)Crs
Equity Shares outstanding after the Issue = 16,22,72,727 Shares

Category-wise Break up:
Anchor – 7,30,22,727 Shares = 321.30Crs
QIB – 4,86,81,818 Shares = 214.20Crs
NII – 2,43,40,909 Shares = 107.10Crs
RII – 1,62,27,273 Shares = 71.40Crs (Lot size: 340 = 47,727 Forms)
Total Issue – 16,22,72,727 Shares = 714.00Crs.

Subscription required for 1X
RII = 47,727 Forms
NII = 107.10 Crs


Burger King India IPO – Financial Information (Basis of Valuation)

The information is collated from the following documents:
1) DRHP = Draft Red Herring Prospectus dated November 2, 2019 (320 pages)

EPS for FY16-17 >>> Rs.(04.87) (Page #77 of DRHP)
EPS for FY17-18 >>> Rs.(03.10) (Page #77 of DRHP)
EPS for FY18-19 >>> Rs.(01.44) (Page #77 of DRHP)
EPS for Q119-20 >>> Rs.(00.07) (Page #77 of DRHP)

RoNW for FY16-17 >>> (19.55)% (Page #78 of DRHP)
RoNW for FY17-18 >>> (28.64)% (Page #78 of DRHP)
RoNW for FY18-19 >>> (15.33)% (Page #78 of DRHP)
RoNW for FY19-20 >>> (00.71)% (Page #78 of DRHP)

NAV as on June 30, 2019 was Rs.9.30 (Page #78 of DRHP)

Listed Industry Peer Group (Page #87 of DRHP): Jubilant Foodworks, Westlife Development


Burger King India IPO – *Market’s Current Estimates of oversubscription*:

NII = 30K Crs. = ~280.11X
RII = 20L Forms = 41.90X Applic. wise (Avg allotment of ~8.11 shares per lot)

Interest cost *@7.00%p.a.* for 7days = 5.91paise for 1X

Thus, for NII the costing = 280.11 X 5.91paise = Rs.16.55 per share (= GMP)

And, for RII the costing = 8.11 X 16.55 = Rs.134/- (= Kostak)


Burger King India IPO – *GMP Estimated*
GMP 15 +/- 2
Kostak 125 +/- 25

412.1. Ankur Goel |Nov 1, 2020 18:05
Top Contributor (200+ Posts, 100+ Likes)

How burger King will come in November. 2 weeks ago, it refiled drhp. Sebi generally takes 4 to 6 weeks in Happy scenario to approve offer draft. And after that merchant banker takes 2 weeks atleast to prepare for ipo. So it will not land in November defiantly.

411. Eagleye |Nov 1, 2020 17:54
IPO Guru (5800+ Posts, 19500+ Likes)

Gland Pharma IPO – Schedule *(Tentative)*

??th Nov – Announcement of Price Band
??th Nov – Anchor Investors Allotment
??th Nov – Offer Opens
??th Nov – Offer Closes
??th Nov – Finalisation of Basis of Allotment
??th Nov – Unblocking of ASBA Accounts
??th Nov – Credit of Equity Shares to Depository Accounts
??th Nov – Commencement of Trading


Gland Pharma IPO – Issue Information *(Tentative)*

Issue Opens on: ?? November 2020
Issue Closes on: ?? November 2020
Issue Type: Book Built Issue IPO
Issue Size: 4,44,79,019 Shares
Face Value: Rs.1/- per Share
Issue Price: Rs.1,300 – Rs.1,300 per Share *(Tentative)*
Discount: NIL
Market Lot: 10 Shares
Listing At: NSE, BSE

Equity Shares outstanding prior to the Issue = 15,49,49,490 Shares
Fresh Issue of Shares 96,15,384 @1,300/- = Rs.1,250.00Crs
Offer for Sale of 3,48,63,635 Shares @1,300/- = Rs.4532.27Crs
Equity Shares outstanding after the Issue = 16,45,64,874 Shares

Category-wise Break up:
Anchor – 1,33,43,706 Shares = 1,734.68Crs
QIB – 88,95,804 Shares = 1,156.45Crs
NII – 66,71,853 Shares = 867.34Crs
RII – 1,55,67,656 Shares = 2,023.80Crs (Lot size: 10 = 15,56,766 Forms)
Total Issue – 4,44,79,019 Shares = 5,782.27Crs.

Subscription required for 1X
RII = 15,56,766 Forms
NII = 867.34 Crs


Gland Pharma IPO – Financial Information (Basis of Valuation)
The information is collated from the following documents:
1) DRHP = Draft Red Herring Prospectus dated July 10, 2020 (316 pages)

EPS for FY17-18 >>> Rs.20.73 (Page #86 of DRHP)
EPS for FY18-19 >>> Rs.29.16 (Page #86 of DRHP)
EPS for FY19-20 >>> Rs.49.88 (Page #86 of DRHP)

RoNW for FY17-18 >>> 13.32% (Page #87 of DRHP)
RoNW for FY18-19 >>> 15.79% (Page #87 of DRHP)
RoNW for FY19-20 >>> 21.20% (Page #87 of DRHP)

NAV as on March 31, 2020 was Rs.235.32 (Page #87 of DRHP)

Listed Industry Peer Group (Page #87 of DRHP): NONE

 
Gland Pharma IPO – *Market’s Current Estimates of oversubscription*:

NII = 40K Crs. = ~46.12X
RII = 25L Forms = 1.61X Applic. wise (Avg allotment of ~6.85 shares per lot)

Interest cost *@7.00%p.a.* for 7days = 174.52paise for 1X

Thus, for NII the costing = 46.12 X 174.52paise = Rs.80.49 per share (= GMP)

And, for RII the costing = 6.85 X 80.49 = Rs.551/- (= Kostak)


Gland Pharma IPO – *GMP Estimated*
GMP 80 +/- 2
Kostak 550 +/- 25

410. Dhavalbhavsarahmedabad |Oct 31, 2020 19:55

Ye share niche list hoga aur badmee itna bhagega 20% buyer circut lagegi.... agar 30 rs mee milta hai to lee lenaaaa. 36 ka buyer lagegahi.....

409. God is Great |Oct 31, 2020 11:05

Don't mind...shubham ji..
Harit ji is ipo guru category..any message give us increase our knowledge..anyway if possible for our ipo guru,pls suggest best ipo share sell strategy for gain maximum on listings day..can we sell preopen or watch full day?.

409.1. NforNandkishor |Oct 31, 2020 11:45
Top Contributor (400+ Posts, 600+ Likes)

@god ji, no strategy can be taken for granted.

The listing of Rossari biotech was around 660 at 10 am and the stock touched upper circuit of Rs 804 at around 2.30 pm.

Listing of mazagon-dock was at around 215 in preopen hours and later in afternoon it hit lower circuit of 172 and later it closed at 176.



So, one should do his own research and then decide when to sell. Actually there is no best strategy to sell shares on listing day to get maximum gain. It's a pure luck.

408. Always Cautious |Oct 30, 2020 21:27

Aniket sir,
Have you sold Angel broking or still holding

408.1. Aniketiaf |Oct 31, 2020 11:31
IPO Guru (1400+ Posts, 8500+ Likes)

Sold 2 lot @ 362. Kept one for a target of 400+
Thanks.

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