Let’s have a detailed review of the company and analytics of the Arohan Financial Services IPO release date, IPO offer price, subscription, Arohan Financial Services Limited IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.

Face ValueRs 10
Price BandRs [●]
Listing AtBSE, NSE
Min. Order QuantityNA
Listing DateNA
Offer for SaleRs Million
Fresh IssueRs Million
IPO SizeRs Million
Tick Size1

Arohan Financial Services IPO is listed at [●] premium. Check out the live share price by clicking on the below link.

Arohan Financial Services Share Price – Live Performance

Arohan Financial IPO – Summary

Arohan Financial Services IPOThey leading NBFC-MFI with operations in financially under-penetrated Low Income States of India. They provide income generating loans and other financial inclusion related products to customers who have limited or no access to financial services.

As of September 30, 2020, our Gross Loan Portfolio (“GLP”) was Rs. 48.57 billion. They were the largest NBFC-MFI in Eastern India and the fifth largest NBFC-MFI in India based on Gross Loan Portfolio as of September 30, 2020.

Between Fiscal 2017 to Fiscal 2020, they had the second highest GLP CAGR of 68.00% among the top five NBFC-MFIs in India, as well as the highest customer growth among the top five NBFC-MFIs at 49.00% CAGR between Fiscal 2018 to Fiscal 2020

The Promoters of this company are AAVISHKAAR VENTURE MANAGEMENT SERVICES PRIVATE LIMITEDAND INTELLECTUAL CAPITAL ADVISORY SERVICES PRIVATE LIMITED. The lead manager to the issue is Edelweiss Financial Services Limited, ICICI Securities Limited, Nomura Financial Advisory and Securities (India) Private Limited, SBI Capital Markets Limited and the Registrar to this issue is Link Intime India Private Limited.


Arohan Financial Services IPO Date

The opening and the closing date of IPO of Arohan Financial Services Limited is not available yet.

Check out Related IPO Links:

Arohan Financial Services IPO GMP
Allotment of Arohan Financial Services IPO

Arohan Financial Services Limited IPO Subscription

Day / DateQIBNIIRIITotal Subscription
1st Day – 
2nd Day –  
3rd Day – 
Shares Offered or Net Issue

The shares subscribed by the public will be updated here.


Arohan Financial Services IPO Allotment Status

Here, you can find the Allotment Status of this IPO.

Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment status is not yet disclosed.

Arohan Financial Services Limited IPO Listing Date

Find the dates below on basis of allotment, refund, listing and more:

Basis of Allotment Finalization
Refunds Initiation
Credit of Shares to Demat Account
Share Listing Date

Arohan Financial Services IPO Price Band / Cash Price

The face value of each share is Rs.10, but the price band of the IPO is Rs.[●] 


Arohan Financial Services IPO Equity Size

This Initial Public Issue of NA Equity Shares of Rs.10 each for cash at a price of Rs.[●]  per equity share aggregating to Rs.[●] Million.


Arohan Financial Services IPO Share Offering

Net Issue: The Issue (excluding the Market Maker Reservation Portion) of [●] equity Shares of Rs.10/ each.

Issue Size: NA Equity Shares of Rs.10 each, aggregating to Rs.[●] Million


Arohan Financial Services IPO – Live Performance

The listing date of this IPO is [●] . You can check the live performance of the IPO here, only after it is listed on exchanges.

Live IPO Performance – Arohan Financial Services Share Price

Arohan Financial IPO Grey Market Premium

The Arohan Financial Services IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X. 


Arohan Financial IPO – Company Overview

They are registered with and their business is regulated by the RBI as an NBFC-MFI. They commenced microfinance operations in 2006. As of September 30, 2020, they served approximately 2.21 million borrowers in 17 states.

These included 12 of the 14 Low Income States in India (as defined in the CRISIL Report). As of that date, their microfinance business’ branch network consisted of 710 branches in11 states and our MSME lending business’ branch network consisted of 10 branches in eight states. They offer a broad range of products to financially underserved customers.

They are focussed on optimising our customer sourcing channels, maintaining well-established loan origination, credit underwriting and loan management processes, as well as adopting and integrating technology into our business to improve lending outcomes and operational efficiency.

Arohan Financial Services IPO Business Verticals

Their operations team is led by six zonal business heads, each zone representing one or two contiguous states. Each zonal business head has three to six regional head reports and each regional head has four to seven area manager reports.

Each area manager is responsible for four to six branches led by branch heads. They consider that field staff, consisting of area managers and branch employees, best represent our brand to our customers.


Arohan Financial IPO – Financial Statements

A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:

Financial Summary:

Amount (in INR & Million)
Sep 20Mar 2031-Mar 19Mar 18
Total Assets58,131.1752,808.2138,530.9723,036.70
*Total Revenue5,073.939,345.066,515.933,278.71
Total Expense4,258.837,669.204,744.562,804.40
Profit After Tax625.641,268.011,276.40309.75

Earnings per Equity Share (in Million)

Sep 20Mar 2031-Mar 19Mar 18
Basic 5.7512.0714.053.52
Diluted5.7412.0514.023.51

From Fiscal 2018 to Fiscal 2020, our disbursements, AUM, Total Income and Total Comprehensive Income grew at a CAGR of 36.19%, 49.52%, 68.83%, and 110.03%, respectively.

As of September 30, 2020, they also had 10 MSME lending branches representing MSME lending business with GLP of ₹1.81 billion, which represents 3.72% of our total GLP.


Arohan Financial IPO – Promoters

The Promoter of this company is:

  1. AAVISHKAAR VENTURE MANAGEMENT SERVICES PRIVATE LIMITED
  2. INTELLECTUAL CAPITAL ADVISORY SERVICES PRIVATE LIMITED

List of Related Parties (Key Managerial Personnel)

  • Manoj Kumar Nambiar, Managing Director
  • Milind Ramchandra Nare, Chief Financial Officer
  • Anirudh Singh G. Thakur, Head –Legal, Compliance and Company Secretary

Competitive Strengths of Arohan Financial Services 

  • Largest NBFC-MFI in Eastern India
  • The fifth largest NBFC-MFI in India with a focus on Low Income States
  • Customer centric approach with diverse product offerings
  • Advanced and scalable technology-enabled infrastructure

Arohan Financial IPO Offer Details or Issue Details

 Particulars No. Of Equity Shares
 Equity Shares Offered Up to [●] Equity Shares aggregating to up to Rs. 8,500 million

and Up to 27,055,893 Equity Shares aggregating to up to Rs. [●] million

of which:
Issue Reserved for the Market MakersUp to [●] Equity Shares aggregating up to Rs.[●]
Million
Net Issue to the PublicUp to [●] Equity Shares aggregating up to Rs.[●]
Million
Of which:
Retail Investors Portion Up to [●] Equity Shares aggregating to up to Rs. [●] million
Other than Retail Individual InvestorsNot more than [●] Equity Shares
 Equity Shares outstanding prior to the Issue120,177,303 Equity Shares
 Equity Shares outstanding after the Issue[●] Equity Shares

Arohan Financial Services IPO Issue Object

Their Company proposes to utilise the Net Proceeds towards funding the following objects:

1.  Augmenting the capital base of our Company
2.  Proposed Schedule of Implementation and Deployment of the Net Proceeds
3.  Interim Use of Net Proceeds

Business strategies of Arohan Financial Services  

  • Focus on growing our business in financially underpenetrated Low Income States
  • Increase customer touchpoints by continuing to cross-sell product suite
  • Continue to improve customer experience
  • Optimise our operational expenses by developing technology infrastructure

Arohan Financial Services IPO – Basis of Offer Price

The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.

Qualitative factors are:

  • Promoter ownership and experienced Board and management teams
  • Diverse borrowing relationships and access to multiple sources of capital

The relevant quantitative factors are:

Basic & Diluted EPSRONW (%)NAV (Rs.)
31-Mar-2012.07 , 12.0513.17%91.32
Mar-1914.05 , 14.0218.31%87.26
31-Mar-183.52 , 3.518.11%NA

Arohan Financial Services IPO : Competitive Peers

Face Value (Rs.)P/EEPS  (Rs.)Return on Net Worth (%)Total Income (Rs. in Crores)
Arohan Financial Services10[●]8.8673.1120.43
Listed Peers
CreditAccess Grameen Limited1031.1023.2012.27%3,354.90
Spandana Sphoorty Financial Limited1012.1656.2113.40%3,518.29
Bandhan Bank1017.9718.7819.90%30,237.38
Ujjivan Small Finance Bank1016.142.1910.98%3,499.18

Arohan Financial Services IPO – Lead Managers

Lead Managers
Edelweiss Financial Services Limited

ICICI Securities Limited ICICI Centre

Nomura Financial Advisory and Securities (India) Private Limited

SBI Capital Markets Limited

Arohan Financial Services IPO – Registrar to offer

Registrar to the Offer
Link Intime India Private Limited
C-101, 247 Park, 1st Floor
L.B.S. Marg, Vikhroli West,
Mumbai 400 083, Maharashtra, India
Tel: +91 22 49186200
E-mail: arohan.ipo@linkintime.co.in
Website: www.linkintime.co.in
Investor Grievance ID: arohan.ipo@linkintime.co.in
Contact person: Shanti Gopalkrishnan
SEBI Registration No. : INR000004058

Arohan Financial Services IPO – Other Details

  • Statutory Auditor – Walker Chandiok & Co LLP
  • Legal Counsel to the Company – NA
  • Bankers to the Company –  Axis Bank Limited, ICICI Bank Limited, IDFC First Bank, State Bank of India


Arohan Financial Services IPO Review by Stock Brokers

Top Stock Brokers ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromoters Reputation
Angel Broking7.5/107.4/108.5/108.1/107.1/10
Sharekhan7.2/107.1/108.6/108.1/107.2/10
Kotak Securities7.3/107.5/108.4/108.1/107.3/10
ICICI Direct7.3/107.3/108.7/108.1/107.1/10
IIFL7.5/107.2/108.8/108.0/107.1/10
Edelweiss7.5/107.4/108.4/108.3/107.2/10
Zerodha7.4/107.1/108.5/108.1/107.0/10
5Paisa7.1/107.1/108.4/108.1/107.1/10
Karvy7.4/107.3/108.2/108.1/107.1/10
Motilal Oswal7.1/107.1/108.6/108.3/107.2/10

 


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