Equitas SFB were the largest SFB in India in terms of number of banking outlets, and the second largest SFB in India in terms of assets under management and total deposits in Fiscal 2019. 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. Equitas SFB have been able to successfully diversify our loan portfolio and significantly reduce our dependence on our microfinance business as compared to other microfinance companies that have converted to SFBs. Equitas SFB offer a range of banking products and services to customers with a focus on serving the financially unserved and underserved customer segments in India. Equitas SFB strength lies in promoting financial inclusion within these segments, with group beginning operations in 2007 and NBFC providing microfinance loans through EMFL. Equitas SFB have been providing housing finance since 2011 through EHFL. Equitas SFB have also been providing vehicle finance and MSE finance through the Erstwhile NBFC that received its asset finance license in 2012, primarily to economically disadvantaged households. While business model has transitioned over the years, the provision of sustainable credit to unserved and underserved segments has remained our core focus.
Equitas SFB have witnessed significant growth in our business, and in Fiscal 2019 had a market share of 16% in terms of assets under management in India. Equitas SFB Gross Advances have grown from Rs 79,370.55 million as of March 31, 2018 to Rs 117,028.49 million as of March 31, 2019 and was Rs 153,669.37 million as of March 31, 2020, and Rs 155,729.14 million as of June 30, 2020. Of Gross Advances secured advances constituted 66.33% as of March 31, 2018, 70.72% as of March 31, 2019, and increased to 75.39% as of March 31, 2020 and further increased to 75.75% as of June 30, 2020.
Promoters Detail
EHL is the Promoter of our Bank. Our Promoter currently holds an aggregate of 1,005,943,363 Equity Shares together with its nominees, aggregating to 95.49% of the pre-Offer issued, subscribed and paid-up Equity Share capital of our Bank.
Financials Results ( In Millions )
Particulars Financial Year Mar. 2020 Mar. 2019 Mar.2018
Revenue from operations 29,277.95 23,948.32 17,729.03
Profit after tax 2,436.35 2,105.66 318.31
IPO Detail
IPO Date - Oct 20, 2020 - Oct 22, 2020
Issue Size - Eq Shares of Rs 10 (aggregating up to Rs 518.00 Cr)
Offer for Sale - Eq Shares of RS 10 (aggregating up to Rs 280.00 Cr)
IPO Price - Rs 32 to Rs 33 per equity share
Market Lot - 450 Shares ( Min Order quantity )
Maximum Order Quantity for Retail -5850 Shares ( 13 Lots )
Finalisation of Basis of Allotment - Oct 27, 2020
Initiation of Refunds - Oct 28, 2020
Credit of Shares to Demat Account - Oct 29, 2020
IPO Shares Listing Date - Nov 02, 2020
Investors Portion and Basis of Allotment
| Category | Percentage of Offer size | Basis of Allotment |
|---|---|---|
| QIB | Not More than 50% | Proportionate |
| NII | Not less than 15% | Proportionate |
| Retail | Not less than 35% | Minimum 1 lot to each investor, subject to availability. |
| Employee | Not More than 5% of the post-offer paid-up equity share capital | Proportionate |
| Shareholders | Not More than 10% | Proportionate |
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