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Capital Small Finance Bank IPO subscribed 4 times on last day of share sale

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NewsDrum Desk
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New Delhi, Feb 9 (PTI) The Initial Public Offer (IPO) of Capital Small Finance Bank got subscribed 4 times on the last day of share sale on Friday.

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The Rs 523 crore-initial share sale received bids for 3,26,04,288 shares against 81,47,373 shares on offer, as per NSE data.

The quota for Qualified Institutional Buyers (QIBs) received 6.64 times subscription while the category for non institutional investors got subscribed 4.05 times. The portion for Retail Individual Investors (RIIs) attracted 2.49 times subscription.

The IPO had a fresh issue of up to Rs 450 crore and an offer-for-sale of up to 15,61,329 equity shares.

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The offer had a price range of Rs 445-468 a share.

Capital Small Finance Bank on Tuesday collected Rs 157 crore from anchor investors.

It will utilise the proceeds from the fresh issue towards augmenting the tier-I capital base to meet its future capital requirements.

The Jalandhar-based bank, which began operations in 2016 after converting itself from a local area bank, is 24 per cent owned by the promoter family led by Sarvjit Singh Sarma and his family.

Nuvama Wealth Management, DAM Capital Advisors and Equirus Capital were the managers to the offer. PTI SUM SUM ANU ANU

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