Capital Small Finance Bank shares listed at ₹430, at 8% discount

14 Feb 2024 , 09:56 AM

Capital Small Finance Bank shares debuted on the stock exchanges at a discount of 8% to the issue price. On the NSE, the shares were listed at ₹430.25, marking an 8.07% discount from the issue price of ₹468. Similarly, on the BSE, the shares were listed at ₹435.

The IPO, valued at ₹523.07 Crore, witnessed a subscription rate of 4.17 times during the subscription period from February 7 to February 9.

Comprising a fresh issue of 96.15 lakh shares worth ₹450 Crore and an offer-for-sale of 15.61 lakh shares worth ₹73.07 Crore, the IPO had a price band of ₹445-468 per share. The proceeds from the fresh issue will be utilized to strengthen the bank’s Tier–I capital base to meet regulatory capital requirements.

Capital Small Finance Bank holds the distinction of being the first non-NBFC microfinance entity to obtain a small finance bank license in 2016. Leveraging its branch-based operating model, the bank has established a robust presence in semi-urban and rural areas.

From its initial 47 branches, the bank has significantly expanded its footprint to encompass over 172 branches across key regions, including Delhi, Haryana, Rajasthan, Himachal Pradesh, and the Union Territory of Chandigarh.