Fincare Small Finance Bank Limited IPO

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Fincare Small Finance Bank Limited is a "digital-first" Small Finance Bank(SFB) with a focus on unbanked and under-banked customers, especially in rural and semi-urban areas. According to CRISIL, among comparable SFB peers in India, they had the highest growth rate in advances over FY2018 to FY2020. They follow a business model focused on financial inclusion and aim to provide individuals and businesses with affordable financial products and services that meet the customers’ needs. Their business objective is to enhance access to savings, credit and other financial products for unbanked and underbanked individuals, MSMEs and unorganized entities, especially in rural areas, by leveraging technology and last-mile distribution. In FY2020, they had the best adjusted ROA and ROE (adjusted for COVID-19 provisions) among SFBs and, for the nine months ended December 31, 2020, and FY2020, they were one of India's most profitable SFBs, based on ROE and ROA. Their Gross Loan Portfolio (GLP) grew from ₹ 21,54.37 Cr to ₹ 55,47.58 Cr, registering a CAGR of 41.05%, from March 31, 2018, to December 31, 2020. This growth was driven primarily by growth in borrowers from 10.02 lakhs as of March 31, 2018, to 20.19 lakhs as of December 31, 2020, a CAGR of 31.82%. Their Return On Equity(ROE) was 18.41% for FY2020 and 14.27% (annualized) for the nine months ended December 31, 2020. They had a total of 2.7 million customers (comprising borrowers and depositors) as of December 31, 2020.

They have an extensive network of 528 banking outlets, 219 business correspondent outlets and 108 ATMs (of which 85 are cash recyclers) spread across 16 states and three union territories, covering 192 districts and 38,809 villages and which reached 2.7 million customers, as of December 31, 2020. They have created a network of banking outlets in urban and Tier 1 cities to focus on deposits mobilization while maintaining their strong network in rural and semi-urban locations to drive our loan products. Their network is particularly strong in South and West India, where, states such as Karnataka and Gujarat have seen high real GDP growth. Their network includes banking outlets that are operated by them and those that are operated by business correspondents, with whom they enter into contractual arrangements to operate the banking outlets. All their banking outlets, including those of their business correspondents, work with digital tools. They tailor the type, size, location, and product offerings of their banking outlets to suit the needs of their customers, with the aim of reaching them in a cost-effective manner. In this sense, banking outlets operated by them are of different types, including full service, basic banking, and micro banking outlets, which cater to different customer segments.

The entire public offer of Fincare Small Finance Bank Limited comprises of fresh issue of Equity Shares aggregating up to₹330 Cr and an Offer for Sale of up to ₹1000 Cr Equity Shares by the selling shareholders.

Financial Snapshot

Financial Year Ended Revenue (₹ Crores) Profit/Loss for the period (₹ Crores) EPS (₹)
March 2019 674.88 22.43 22.417
March 2020 1215.72 137.27 24.43
Dec 2020 998.30 201 16.34

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Where do I check the allotment status for Fincare Small Finance Bank Limited IPO?

You can check the allotment status for the Fincare Small Finance Bank Limited IPO on the website of the Registrar and Transfer agent.
Alternatively, you can also check the allotment status on the NSE website.