Capital Small Finance Bank awaiting SEBI nod for IPO, says MD & CEO Sarvjit Singh Samra
Jalandhar-based Capital Small Finance Bank is expecting approval from the Securities and Exchange Board of India (Sebi) for an IPO consisting of a fresh issue of Rs 450 crore by next month, said Managing Director (MD) and Chief Executive Officer (CEO) Sarvjit Singh Samra. “The documents have been filed with the SEBI and we are expecting to get approval from SEBI by December 2023. In general, typically it takes 80-85 days to grant approval after the date of filing. We had filed this around September 28, “said Samra.
Private equity and venture capital-backed Capital Small Finance Bank’s IPO consists of a fresh issue of Rs 450 crore and an offer-for-sale of up to 24.12 lakh shares by its existing shareholders and promoters.
The OFS comprises 8.37 lakh shares by Oman India Joint Investment Fund II, up to 3.37 lakh shares by PI Ventures LLP, up to 6.05 lakh shares by Amicus Capital Private Equity I LLP, up to 70,178 shares by Amicus Capital Partners India Fund-I and up to 5.64 lakh shares by other shareholders.
On November 9, 2023 the bank reported that Profit After Tax increased by 32.37 percent Y-o-Y to Rs 54.39 crore. Bank’s net worth has crossed Rs 700 crores to Rs 711.756 crores. However total [Business] has crossed Rs 12,800 crores with gross advances at Rs 5,865.94 crores and deposits at Rs 7,000.29 crores.
