Lead Manager to Piramal Capital & Housing Finance Ltd. for their maiden Public Issue of Secured NCDs

Deal Highlights:

Maiden Public Issue of NCDs of Piramal Capital & Housing Finance Ltd
The Issue received an overwhelming response from investors and was pre-closed
The Issue offered a diverse set of tenors to Investors ranging from 26 months to 120 months for both short-term and long-term investment horizon

We managed to garner healthy participation from a varied set of investors
As one of the Lead Managers, we hand-held the Company with end-to-end execution, swift regulatory approvals, and various deal contours
This is our 2nd successful NCD issue closure for a HFC within the first half of the current fiscal year; A great testimony of our understanding of HFCs

We successfully closed the 2nd transaction for PNB in last 6 months, demonstrating our philosophy of “Invested in YOU”
- Dec 2020 – QIP (₹ 37,880 mn)
- May 2021 – QIP (₹ 18,000 mn)
#1 procurer in both the transactions
In a 7-bank syndicate, procured highest share with ~36% by number of investors^ and ~46% by allocation amount^
Highest Procurer of FIIs & DIIs^ bids by allocation amount as well as in terms of number of investors
Successfully procured 3 largest bids in the book^

The deal witnessed participation from a diverse set of investors with FIIs dominating the book
The proceeds from the issue will be utilized to augment the Bank’s Tier I Capital to meet the Basel III and to support growth plans and to enhance the business of the Ban

*in terms of total business and deposits as of December 31, 2020 ; ^{^} Ex LIC

We spearheaded the marketing efforts for the bank
- Mobilised a disproportionately higher (~30%) share# in a 7 bank syndicate
- Mobilised demand from a diverse investor set with a good mix of FIIs and DIIs
Procured the highest bid in the book#

This is the largest PSU QIP launched in CY ’20
The deal witnessed participation from a diverse set of investors with an equitable split between FIIs and DIIs
The proceeds from the issue will be utilized to augment the Bank’s Tier I Capital to meet the Basel III and to support growth plans and to enhance the business of the Bank

* in terms of total business and deposits as on September 30, 2020; # – Ex-LIC bid

2nd IPO by the Equitas Group (Equitas Holdings – Apr’ 16 and now Equitas Small Finance Bank)
The deal saw good demand across categories with QIB being subscribed by ~4x and an overall subscription of ~2x
First IPO in the banking space post Covid-19, one of the toughest times for the sector amid regulatory uncertainty and sectoral headwinds
Deal saw participation from marquee institutional investors including Long-Only FIIs, MFs and Leading Life Insurance Companies

We were the only common banker to both the IPOs by the Equitas Group (Equitas Holdings – Apr’ 16 and now the Equitas SFB IPO)
We led the positioning efforts, highlighting the bank’s core strength with focus on serving the financially unserved and underserved customer segments in India
Provided end-to-end handholding and guidance to the bank on various deal contours and timing

One of the largest retail broking players in terms of active clients on NSE¹
The deal saw good demand with overall subscription of ~3.5 times and the QIB book subscribed around 6 times*
The deal was consummated successfully at a time when broader markets corrected ~6%^# in the issue period
The deal saw participation from marquee institutional investors including Long-Only FIIs, MFs and leading Life Insurance Companies

We led the marketing efforts, focusing on the robust and resilient business growth seen by Angel Broking post transforming itself into a discount digital broker
The only banker to mobilize demand from Long Only FIIs in the Anchor Book
Conducted the roadshows and led the book building efforts in a completely virtual and seamless manner
Provided end-to-end client handholding and guidance on various deal contours and timing

¹ – Source: CRISIL Report, ^#-Source: BSE; ^*– Ex-Anchor