Capital Small Finance Bank Unlisted Shares

Capital Small Finance Bank to hit IPO street, files draft papers with Sebi

Money Control

2 min read

Capital Small Finance Bank Ltd, backed by private equity and venture capital, files draft papers for an IPO with SEBI.

Justification

The IPO includes a fresh issue of Rs 450 crore and an offer-for-sale (OFS) of up to 24.12 lakh shares by existing shareholders and promoters.
The OFS comprises shares from & up to:
- Oman India Joint Investment Fund II - 8.37 lakh shares
- PI Ventures LLP - 3.37 lakh shares
- Amicus Capital Private Equity I LLP - 6.05 lakh shares
- Amicus Capital Partners India Fund-I - 70,178 shares
- Other shareholders- 5.64 lakh shares
Lead managers for the issue are Nuvama Wealth Management, DAM Capital Advisors, and Equirus Capital.
Funds raised will boost Tier-I capital to support future asset growth, particularly loans and investments, and ensure compliance with RBI capital adequacy regulations.
The bank is backed by private investors like Amicus Capital, Oman India Joint Investment Fund (OIJIF), and Pi Ventures. It recently secured an equity investment from Max Life Insurance Company Ltd, valuing it over Rs 1,600 crore for a minority equity stake.
The bank, with its 172 branches, recorded business growth of 15.6 % to Rs 12,583.68 crore & registered PAT Rs 30.10 crore as compared to Rs 18.28 crore for June 2023 quarter.

Takeaways

Bank with strong financial backing might lead to profitability & growth prospects along with reduced risk because of investor diversification.

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