KEY HIGHLIGHTS AND VALUE ADD BY SBICAPS – INVESTEC
- Leveraging on the strong research-driven differentiated insights on financial inclusion space,
- SBICAPS spearheaded the marketing efforts ensuring strong investor demand
- In a 4-bank syndicate, ~35% of the total institutional order book (across Pre IPO, Anchor and main book) was procured by SBICAPS-Investec from high quality investors such as SBI Life, MIT, SBI General, SBI and others → Strong SBI Group support led to a successful deal launch
- SBICAPS procured bids from investors at critical points throughout the deal lifecycle which generated momentum for deal launch and led to successful closure of the transaction –
- Pre IPO – Successful Pre-IPO placement of INR 900mn to SBI Life (demand for INR 1.2bn)→ created momentum for deal launch as other investors drew comfort on the back of the Pre IPO round
- IPO – Procured demand from SBI General, MIT (Old Bridge Capital) and SBI (treasury) in the main book early on to generate further institutional momentum
- SBICAPS-Investec procured bid from MIT which is the sole Long Only investor in the transaction
- SBICAPS-Investec was the retail marketing coordinator; retail category saw highest subscription amongst all other buckets in the issue
- SBICAPS also shouldered the post-issue responsibility, achieving seamless listing in T+5 days
ISSUE DETAILS
IPO Size | INR 5.808 Mn | |
Price Band | INR 303 – 305 | |
Issue Period | March 17-19, 2021 | |
BRLMs | SBICAPS, Axis, ICICI, IIFL |
ISSUE SUBSCRIPTION
Category | Subscription | |
Overall | 2.02x | |
QIB | 2.18x | |
NII | 1.19x | |
Retail | 2.42x (SBICAPS was the retail marketing coordinator) |