Equitas SFB IPO has raised Rs 140 crore by 12 anchor investors till October 19
Equitas SFB IPO. The IPO of Equitas Small Finance Bank has subscribed 53% as of October 21 afternoon. Today is the second day of IPO. As per the data available on the stock exchange, out of the 11.58 crore shares of the company, 6.05 crore shares have been bid. However, the retail segment is fully subscribed today. The company has planned to raise Rs 518 crore through an IPO. The price band for this issue is Rs 32-33. It will have to take a minimum of 450 shares. As of October 19, the company has raised Rs 140 crore from 12 anchor investors.
Also Read: IPO of Equitas Small Finance Bank to open today, know the special things
The issue allocation of Equitas Small Finance Bank may be decided on October 27. Among the issues that will be available for sale through IPO are fresh issue of Rs 280 crore and 7,20,00,000 shares under offer for sale.
Equitas Holdings Limited, the parent company of Equitas Small Finance Bank, is reducing its stake under the Offer for Sale. Equitas Holdings has a 95 per cent stake in Equitas Small Finance Bank, which will come down to 82 per cent after the IPO.
As per RBI rules, the promoter of a small finance bank has to reduce its stake to 40% within 5 years of the bank’s functioning. Equitas Small Finance Bank’s 5-year completion in September 2021.
The first IPO of Equitas Small Finance Bank was scheduled to come in March but it was postponed due to coronavirus infection and lockdown. With this, the size of the issue was also halved. The first issue of 1000 crores was to be issued.
