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Last Updated : Nov 05, 2018 04:26 PM IST | Source: CNBC-TV18

Equitas Small Finance Bank will not take IPO route, plans to rejig shareholding

Talking about growth, PN Vasudevan, MD and CEO, said the bank looks to end the year at 40 percent growth this year

CNBC TV18 @moneycontrolcom

CNBC-TV18

Equitas Small Finance Bank on Monday said it's planning to restructure shareholding instead of an initial public offering (IPO).

In an interview to CNBC-TV18, PN Vasudevan, managing director and chief executive officer, said, "Overall things are beginning to fall in place and the effect of conversion to a bank as well as the demonetisation impact is behind us. We believe that we should look at sustained performance going forward."

Talking about growth, Vasudevan said, “We have already guided that in terms of our advance growth. We are looking to end this year at around 40 percent, so we are at 36 for the second quarter, but we are well in line to meet the 40 percent plus growth for the rest of the year.”
First Published on Nov 5, 2018 04:17 pm
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