Shares of Capital Small Finance Bank listed today at a 8% discount at Rs 418 on the exchanges against its issue price of Rs 468 per share on the upper end of the price band, marking their debut after a successful IPO. Experts believe that the listing of Capital Small Finance Bank could have been impacted by the volatility in the overall markets on Wednesday.
Capital SFB’s Rs 523 crore IPO, which consisted of a fresh issue of Rs 450 crore and an offer for sale by existing shareholders worth Rs 73.07 crore was subscribed 4.17 times in the 3-day bidding process. The bank has said that it will use the proceeds from the IPO for augmenting its Tier-1 capital base to meet capital requirements.
Capital SFB was the first non-NBFC microfinance entity to receive the small finance bank license. The bank now has more than 172 branches across Delhi, Haryana, Himachal Pradesh and Union Territory of Chandigarh.
