Belstar Microfinance Limited IPO is fully book build issue and total IPO size is ₹1300 crores. The offering includes a fresh issue worth ₹1000 crores and an offer for sale of ₹300 crores.
The dates for the Belstar Microfinance IPO have not been announced yet.
The allotment process is expected to be finalized by [.]. The Belstar Microfinance IPO is scheduled to list on BSE, NSE, with a tentative listing date of [.].
The price band for the Belstar Microfinance IPO has not been announced yet.
Registrar for this IPO is Link Intime India Private Limited and lead managers for Belstar Microfinance IPO are ICICI Securities Limited, Axis Capital Limited, HDFC Bank Limited, SBI Capital Markets Limited.
IPO Schedule
| IPO Open Date | - |
|---|---|
| IPO Close Date | - |
| IPO Allotment Date | - |
| Refund Initiation | - |
| Share credit in Demat | - |
| Listing Date | - |
Key Details
| Price Band | TBA |
|---|---|
| Lot Size | TBA |
| Face Value | ₹10 Per Equity Share |
| Total Issue Size | ₹1,300.00 Crores |
| Fresh Issue | ₹1,000.00 Crores |
| OFS Issue | ₹300.00 Crores |
| Issue Type | Fresh Issue and Offer for Sale |
| Listing At | BSE, NSE |
Share Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB | 75% |
| Retail | 10% |
| NII/HNI | 15% |
About Belstar Microfinance Limited Company
This data provides insights into the performance of various NBFC-MFIs and Small Finance Banks (SFBs) in India. Key metrics include Gross Non-Performing Assets (GNPA) and Net Non-Performing Assets (NNPA) ratios, reflecting asset quality. For instance, Belstar Microfinance had a GNPA of 2.42% and NNPA of 0.66% as of FY23, among the lowest in the selected NBFC-MFI group. Utkarsh SFB reported a GNPA of 3.23% and NNPA of 0.39% for the same period. Bandhan Bank's GNPA stood at 4.87% with NNPA at 1.17% as of FY23. The average experience of key managerial personnel is highest for Belstar Microfinance at 25 years, indicating a seasoned leadership team.
Furthermore, Belstar Microfinance, the ninth-largest NBFC-MFI in India (as of December 31, 2023), focuses on women's empowerment through microloans in rural and semi-urban areas. The company emphasizes the Self-Help Group (SHG) lending model. As of December 31, 2023, Belstar's gross loan portfolio reached ₹8,834.21 crore. The company's strength lies in a branch-based collection model and increasing use of technology, with their Samrithi app reporting 0.28 million users. With a credit rating of 'AA' from CRISIL, Belstar is supported by Muthoot Finance and private equity investors. Belstar is committed to managing risk and providing financial services to underserved communities.
Belstar Microfinance Limited Financial Details
| Particulars | Dec 31 2023 | Mar 31 2023 | Mar 31 2022 | Mar 31 2021 |
|---|---|---|---|---|
| Assets | 8096.88 | 6226.90 | 4560.29 | 3467.29 |
| Revenue | 1283.14 | 1031.26 | 727.23 | 551.40 |
| Profit After Tax (PAT) | 235.12 | 130.32 | 45.13 | 46.65 |
| Net Worth | 1323.69 | 1092.30 | 855.93 | 541.72 |
| Reserves and Surplus | 1274.84 | 1043.46 | 810.32 | 504.20 |
| Total Borrowing | 6424.18 | 4837.09 | 3557.87 | 2795.64 |
₹ In Crore
Key Performance Indicator
| Basic EPS (in ₹) | Return on Net Worth (RoNW) | Net Asset Value (NAV) | Debt-Equity Ratio | Return on Equity (ROE) | Return on Capital Employed (ROCE) |
|---|---|---|---|---|---|
| 27.12 | 11.93 | 271.00 |
Offer Objectives
The Offer involves a Fresh Issue and an Offer for Sale (OFS). The Fresh Issue aims to raise up to ₹1,000 crore. Simultaneously, the Selling Shareholders propose an OFS of up to ₹300 crore.
Offer for Sale Details:
- MAJ Invest Financial Inclusion Fund II K/S: OFS up to ₹175 crore.
- Arum Holdings Limited: OFS up to ₹97 crore.
- Augusta Investments Zero Pte Ltd: OFS up to ₹28 crore.
The company will not receive any proceeds from the Offer for Sale. Each Selling Shareholder will be entitled to their respective portion of the proceeds of the Offer for Sale after deducting its respective proportion of Offer expenses and relevant taxes thereon
Utilization of Net Proceeds from Fresh Issue:
- Meeting future capital requirements towards onward lending. The requirement is estimated at ₹760 crore.
- General corporate purposes, with the amount not exceeding 25% of the Gross Proceeds.
The company may consider a Pre-IPO Placement for a cash consideration aggregating up to ₹200 crore. If the Pre-IPO Placement is undertaken, the Fresh Issue size will be reduced to the extent of such Pre-IPO Placement.
The fund requirements and deployment of funds have not been appraised by any bank, or financial institution or any other independent agency.
Company Details
Address:
New No. 33, Old No. 14, 48th Street,
9th Avenue, Ashok Nagar, Chennai - 600083,
Tamil Nadu, India
Phone: +91 44 4341 4503
Email: [email protected]
Website: http://www.belstar.in
IPO Registrar Details
Link Intime India Private Limited
Phone: +91 810 811 4949
Email: [email protected]
Website: http://www.linkintime.co.in
Offer Prospectus & Documents
Lead Managers
- ICICI Securities Limited
- Axis Capital Limited
- HDFC Bank Limited
- SBI Capital Markets Limited
