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Last Updated : Oct 20, 2020 04:01 PM IST | Source: Moneycontrol.com

Equitas Small Finance Bank fixes IPO price band at Rs 32-33 per share

The public issue consists a fresh issue of Rs 280 crore and an offer for sale of 7.2 crore equity shares by Equitas Holdings (which valued at Rs 237.6 crore at upper price band), hence the total issue size stood at Rs 517.6 crore.

Equitas Small Finance Bank, the subsidiary of Equitas Holdings, has fixed the price band at Rs 32-33 per shares for its forthcoming initial public offering.

The IPO is going to open for subscription on October 20 and close on October 22. The issue for anchor invetors will open for a day on October 19, a day before the issue opening for public. One can bid for a minimum of 450 equity shares and in multiples of 450 shares thereafter.

The public issue consists a fresh issue of Rs 280 crore and an offer for sale of 7.2 crore equity shares by Equitas Holdings (which valued at Rs 237.6 crore at upper price band), hence the total issue size stood at Rs 517.6 crore.

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The offer includes reservation of Rs 51 crore worth of shares for eligible shareholders of Equitas Holdings and Rs 1 crore shares for eligible employees of Equitas Small Finance Bank.

The eligible shareholders mean those individuals and HUFs who are the public equity shareholders of EHL (excluding such persons who are not eligible to invest in the offer under applicable laws or are otherwise unable to make any such investment) as on the date of the red herring prospectus i.e. October 11, 2020, the filing said.

JM Financial, Edelweiss Financial Services and IIFL Securities are book running lead managers to the issue. Its equity shares are expected to list on BSE and NSE on October 30.
First Published on Oct 15, 2020 11:58 am
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