 "Capital Small Finance Bank IPO subscribed 1.19 times on day two of bidding")
The initial public offer of Capital Small Finance Bank Limited on Thursday got subscribed 1.19 times on the second day of bidding.
The Rs 523 crore-initial share sale received bids for 97,15,520 shares against 81,47,373 shares on offer, as per NSE data.
The category for Retail Individual Investors (RIIs) received 1.34 times subscription while the quota for Qualified Institutional Buyers (QIBs) got subscribed 1.06 times. The portion for non-institutional investors fetched 1.03 times subscription.
The Initial Public Offer (IPO) has a fresh issue of up to Rs 450 crore and an Offer For Sale component of up to 15,61,329 equity shares.
Those selling shares in the OFS include Oman India Joint Investment Fund II, American Capital, and Amicus Capital Private Equity.
The IPO has a price range of Rs 445-468 a share.
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The initial share sale of Capital Small Finance Bank Ltd received 50 per cent subscription on the first day of bidding on Wednesday.
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 are the managers to the offer.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)