INSUBCONTINENT EXCLUSIVE:
Equitas Small Finance Bank IPO: The issue price of the public offering is fixed at Rs 32-Rs 33 per share.Equitas Small Finance Bank's Rs
517.6 crore initial public offer (IPO) opens for subscription today
The IPO will remain open for bidding until October 22
holding company of Equitas Small Finance Bank
Following the sale offer, the stake of Equitas Holdings Limited will decline to about 82 per cent
The shares are set to be listed on the bourses on November 2, 2020.Equitas Small Finance Bank has fixed the issue price of the public
offering at Rs 32-Rs 33 per share
Applicants can bid for a minimum one lot of 450 equity shares and in multiples of 450 equity shares thereafter, up to 13 lots.Equitas Small
Finance Bank will use proceeds from the public offer to augment its Tier I capital base to meet future capital requirements.Equitas Small
Finance Bank was incorporated in Chennai in the year 1993
Being a micro-finance institution, Equitas Small Finance provides microfinance loans, housing finance and vehicle finance
But unlike other micro-finance institutions, it also sells mutual funds and third-party insurance products, and offers savings account
services.Equitas Small Finance Bank was the largest small finance bank in India in terms of number of banking outlets and second largest in
terms of assets under management, as of financial year 2019.Edelweiss Financial Services, IFL Holdings and JM Financial Consultants are the
lead managers of the initial public offer, whereas KFintech Private Limited is the registrar to the issue.
