Belstar Microfinance IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: May 28, 2024Let’s have a detailed review of the company and analytics of the Belstar Microfinance IPO release date, IPO offer price, subscription, Belstar Microfinance Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 10 |
| Price Band | Rs [●] |
| Listing At | BSE, NSE |
| Min. Order Quantity | NA Shares |
| Listing Date | NA |
| Offer for Sale | Rs 3,000 Million |
| Fresh Issue | Rs 10,000 Million |
| IPO Size | Rs 13,000 Million |
| Tick Size | 1 |
Belstar Microfinance IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
| Live Performance – Belstar Microfinance Share Price |
Belstar Microfinance IPO – Summary
They are the ninth-largest Non-Banking Finance Company-Micro Finance Institution (“NBFC-MFI”)in India in terms of assets under management (“AUM”)as of December 31, 2023.
They aim to be a socially responsible microfinance institution, driving financial inclusion across the country by furthering entrepreneurship and economic empowerment of women through the provision of loans in rural and semi-urban regions.
The Promoter of this company is MUTHOOT FINANCE LIMITED, SARVAM FINANCIAL INCLUSION TRUST AND DR. KALPANAA SANKAR. The lead managers of the issue are ICICI Securities Limited, Axis Capital Limited, HDFC Bank Limited, and SBI Capital Markets Limited, and the Registrar of this issue is Link Intime India Private Limited.
Belstar Microfinance IPO Date
The opening and closing dates of Belstar Microfinance IPO are not available yet.
Belstar Microfinance IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – | ||||
| 2nd Day – | ||||
| 3rd Day – | ||||
| Shares Offered or Net Issue |
The shares subscribed by the public will be updated here.
Belstar Microfinance 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.
Belstar Microfinance 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 | – |
Belstar Microfinance IPO Price Band
The face value of each share is Rs.10, but the price band of the IPO is Rs.[●]
Belstar Microfinance IPO Equity Size
This Initial Public Issue of X Equity Shares of Rs.10 each for cash at a price of Rs.[●] per equity share aggregating to Rs.13,000 Million.
Belstar Microfinance IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of [●] Equity Shares of Rs.10/ each.
Issue Size: X Equity Shares of Rs.10 each, aggregating to Rs.13,000 Million
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Belstar Microfinance 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 – Belstar Microfinance Share Price |
Belstar Microfinance IPO Grey Market Premium
The Belstar Microfinance Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is Rs X.
Belstar Microfinance IPO – Company Overview
They are one of the top 10 NBFC-MFI players with a relatively strong credit rating of “AA” and a stable outlook from CRISIL, and they have strong financial and operational metrics.
Also, they have a strong parentage through Muthoot Finance Limited, being their Listed Corporate Promoter and the holding company, which provides them with business and capital support to scale up their operations and is backed by more than 135 years of experience in the finance industry.
They are further supported by marquee private equity investors, namely Maj Invest and Affirma Capital. As part of their business strategy, they also have partnered with insurance service providers such as Kotak Life Insurance and PramericaLife Insurance, and with credit bureaus such as CIBIL, Equifax, Experian and CRIF.
Belstar Microfinance IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Million) | ||||
| 31-Dec-23 | 31-Mar-23 | Mar-22 | 31-Mar-21 | |
| Total Assets |
80,968.81
|
62,269.01
|
45,602.86
|
34,672.88
|
| *Total Revenue |
12,952.14
|
10,379.15
|
7,284.31
|
5,529.41
|
| Total Expense |
9,878.77
|
8,686.08
|
6,722.85
|
4,959.29
|
| Profit After Tax |
2,351.19
|
1,303.25
|
451.29
|
466.51
|
Earnings per Equity Share (in Million)
| 31-Dec-23 | 31-Mar-23 | Mar-22 | 31-Mar-21 | |
| Basic & Diluted |
48.14
|
27.12
|
12.01
|
12.43
|
Further, their PAT for the period ended on March 31, 2023, March 31, 2022, and March 31, 2021, were Rs. 1,303.25 Million, Rs. 451.29 Million and Rs. 466.51 Million respectively.
Belstar Microfinance IPO – Promoters
The Promoter of this company is:
- MUTHOOT FINANCE LIMITED,
- SARVAM FINANCIAL INCLUSION TRUST
- DR. KALPANAA SANKAR
List of Related Parties (Key Managerial Personnel)
- Kalpanaa Sankar, Managing Director
- Balasubramanian Balakumaran, Whole-time Director
- Vadakkakara Antony George, Independent Director
- Krishnamoorthy Venkataraman, Independent Director and Chairman
Belstar Microfinance IPO – Promoters Holding
- Pre-Issue Share Holding – %
- Post-Issue Share Holding – %
Belstar Microfinance IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to X Equity Shares aggregating up to Rs.13,000 Million |
| of which: | |
| Issue Reserved for the Market Makers | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Net Issue to the Public | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Of which: | |
| Retail Investors Portion | Not less than [●] Equity Shares |
| Other than Retail Individual Investors | Not more than [●] Equity Shares |
| Equity Shares outstanding prior to the Issue | 54,844,055 Equity Shares |
| Equity Shares outstanding after the Issue | X Equity Shares |
Belstar Microfinance IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
- To meet future capital requirements towards onward lending; and
- General corporate purposes
Belstar Microfinance IPO – Business Strategy
- Continue to grow their loan portfolio by expanding their geographical footprint and diversifying in product offerings
- Increasing their brand recognition by strengthening their relationship with their customer base
- Leverage digital banking and analytics to drive cost optimisation, increase operational efficiency and improve profitability metrics
- Further, diversify their sources of funds
Belstar Microfinance 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:
- Pan-India presence, a strong and well-diversified portfolio, and a consistent track record of growth and improvement of financial and operational metrics;
- Brand recall and synergies with Muthoot Finance Group;
- Customer-centric business model with a deep understanding of the large Indian underbanked customer segment;
- Access to diversified sources of capital and effective cost of funds and asset liability management;
- Robust credit assessment process and risk management framework leading to a healthy portfolio quality;
- High leverage on technology to drive process efficiencies; and
- Professional and experienced leadership team with strong corporate governance, backed by highly-respected promoters and other shareholders.
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-23 |
27.12
|
11.93
|
223.63
|
| 31-Mar-22 |
12.01
|
5.27
|
– |
| Mar-21 |
12.43
|
8.61
|
– |
Belstar Microfinance IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Millions) | |
| Belstar Microfinance Limited | 10 | [●] | 27.12 |
11.93%
|
10,379.15
|
| Listed Peers | |||||
| Muthoot Microfin Limited | 10 |
19.48
|
14.19
|
10.08%
|
14,463.44
|
| Equitas Small Finance Bank Limited | 10 |
21.10
|
4.71
|
11.12%
|
48,314.64
|
Belstar Microfinance IPO Lead Managers
| Lead Managers |
|
ICICI Securities Limited Axis Capital Limited HDFC Bank Limited SBI Capital Markets Limited |
Belstar Microfinance IPO Registrar to offer
| Registrar to the Offer |
| Link Intime India Private Limited C-101, 1stFloor, 247 Park L.B.S. MargVikhroli (West), Mumbai 400083, Maharashtra, India Tel: +91 810 811 4949 E-mail: belstar.ipo@linkintime.co.in Website: www.linkintime.co.in Investor Grievance ID: belstar.ipo @linkintime.co.in Contact Person: Shanti Gopalkrishnan SEBI Registration Number: INR00000405 |
Belstar Microfinance IPO – Other Details
- Statutory Auditor – Varma & Varma, Chartered Accountants
- Legal Counsel to the Company – AZB & Partners
- Bankers to the Company – Aditya Birla Finance Limited, Bandhan Bank, Bank of Bahrain & Kuwait BSC, DBS Bank India Limited etc
Belstar Microfinance IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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Belstar Microfinance Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
Belstar Microfinance IPO Review FAQs
Check out various FAQs related to Belstar Microfinance IPO:
What is the Issue Size of Belstar Microfinance IPO?
The Company is making an initial public offer of NA equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Belstar Microfinance IPO?
The price band for this particular IPO ranges between Rs NA. As far as the face value of the share is concerned, it is Rs. 10 per share.
What is the Belstar Microfinance IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on NA, while the closing date is set at NA.
What is the Belstar Microfinance IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on NA, refund initiation is on NA, credit of shares is on NA, and share listing date is on NA.
What is the Belstar Microfinance IPO Listing Date?
Shares of this company shall be listed in the exchanges NA. The date, when the listing would be done, is stagnant on NA.
Who is the Registrar of Belstar Microfinance IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. Link Intime India Private Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Belstar Microfinance IPO?
Here are the promoters of this IPO – MUTHOOT FINANCE LIMITED, SARVAM FINANCIAL INCLUSION TRUST AND DR. KALPANAA SANKAR. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Belstar Microfinance IPO?
They have obtained the GMP of this IPO and it is Rs NA. Further insights into the Kostak rate and subject to sauda or SS are as well included in this report.
Is Belstar Microfinance IPO Good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Belstar Microfinance Company?
They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2023 in Million is 1,303.25, 2022 is 451.29, and 2021 is 466.51. PAT from Dec 2023 is 2,351.19.
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