Equitas Small Finance Bank, the largest SFB in India in terms of number of banking outlets as of FY19, raised Rs 139.68 crore from anchor investors on October 19, ahead of its initial public offering.
The small finance bank has finalised allotment of 4,23,27,271 equity shares to 12 anchor investors at upper price band of Rs 33 per equity share.
Anchor investors subscribed for were ICICI Prudential, Invesco India Contra Fund, HDFC Life Insurance, SBI Life Insurance, BNP Baribas, Nippon Life India Trustee, Franklin India, Sundaram MF, Mirae Asset Large Cap Fund, Mine Superannuation Fund etc.
The initial public offering consists a fresh issue of Rs 280 crore and an offer for sale of 7.2 crore equity shares by Equitas Holdings, the promoter.
The offer includes a reservation of Rs 51 crore shares for eligible Equitas Holdings shareholders and Rs 1 crore shares for eligible employees of Equitas Small Finance Bank.
The issue will open on October 20 and close on October 22. Bids can be made for a minimum of 450 equity shares and in multiples of 450 equity shares thereafter.
Equity shares will be listed on BSE and National Stock Exchange. This would be third small finance bank to come out with IPO after AU Small Finance Bank and Ujjivan Small Finance Bank.