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Equitas Small Finance Bank IPO subscribed 39%, retail portion booked 85% on Day 1

After the IPO, the shareholding of Equitas Holdings in Equitas Small Finance Bank will be reduced to 82 percent from 95.49 percent.

October 21, 2020 / 11:44 AM IST

The initial public offering (IPO) of Equitas Small Finance Bank, a subsidiary of Equitas Holdings, has subscribed 39 percent on October 20, the first day of bidding.

The Rs 518-crore public issue has received bids for 4.54 crore equity shares against an offer size of 11.58 crore equity shares, data available on exchanges show.

The portion set aside for retail investors has seen 84.7 percent subscription, while non-institutional investors' portion subscribed 2.5 percent, but qualified institutional buyers have not started putting bids for the issue yet.

The reserved portion of shareholders of Equitas Holdings witnessed 14 percent subscription and that of employees of Equitas Small Finance Bank 59 percent.