Equitas Small Finance Bank

Mumbai: Equitas Small Finance Bank IPO of Rs 518 crore will open for subscription during October 20-22. The company has set a price band of Rs 32-33 for this issue.

In this IPO, Equitas Small Finance Bank will issue fresh shares worth Rs 280 crore, while its parent company Equitas Holdings will sell 7,20,00,000 shares through Offer for Sale (OFS).

A lot of 450 shares has been earmarked for this issue. Investors can bid for more shares in multiples of 450 shares. Through this issue, the bank wants to increase its Tier-I capital, so as to meet future growth and expansion related capital requirements.

In this issue, 50 percent shares have been reserved for the category of qualified institutional buyers (QIBs), while 35 percent shares are reserved for retail investors. The remaining 15 per cent stake is reserved for qualified institutional buyers.

Earlier, Equitas SFB had planned to offer Rs 1,000 issues. But due to Corona virus, the issue size had to be halved almost. Earlier this issue was going to come in March. But then it was postponed due to the market situation.

PN Vasudevan, CEO and MD of Equitas Holdings, said in the virtual media dialogue, “The issue size has been halved because we have sufficient capital in view of the current situation.” The shares of the company will be listed on both BSE and NSE exchanges. The issue will be managed by JM Financial, Edelweiss Financial Services and IIFL Securities.

Read this too: https://capitalboat.in/infosys-second-quarter-results-profits-up-20-revenue-guidance-up/

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