Capital Small Finance Bank Lists at 8% Discount
Feb 14, 2024 12:41
Capital Small Finance Bank shares listed at an 8% discount on the NSE and BSE, opening at Rs 430.25 and Rs 435 respectively. The IPO was subscribed 4 times.
Photograph: Francis Mascarenhas/Reuters
New Delhi, Feb 14 (PTI) Shares of Capital Small Finance Bank on Wednesday listed with a discount of 8 per cent against the issue price of Rs 468. The stock of the company started the trade at Rs 430.25, lower 8.07 per cent from the issue price on the NSE.
Similarly, the stock opened at Rs 435, down 7 per cent from its issue price on the BSE. In the mid-session trade, the 30-share BSE Sensex benchmark slumped 470.96 points or 0.66 per cent to 71,084.23 points, while NSE Nifty fell 0.6 per cent to 21,613.50 points. The initial share sale of Capital Small Finance Bank was subscribed 4 times on the last day of the share sale on February 9. The IPO had a fresh issue of up to Rs 450 crore and an offer-for-sale of up to 15,61,329 equity shares. The offer had a price range of Rs 445-468 a share. 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, has a 24 per cent stake owned by the promoter family led by Sarvjit Singh Sarma and his family.
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