Equitas Small Finance Bank's Rs 517.6 crore initial public offer (IPO) was open for subscription from October 20 till October 22. The shares were sold in the price band of Rs 32- Rs 33 per share. The IPO had received a muted response from the investors. It was subscribed 2 times, receiving bids for 22.57 crore equity shares as against the offer size of 11.58 crore equity shares, subscription data on the stock exchanges revealed. The qualified institutional investors segment was subscribed 3.9 times, retail investors category was subscribed 2.08 times and non-institutional investors, 22 per cent.
The IPO comprised fresh issue of 8.5 crore shares and offer for sale of 7.2 crore shares by Equitas Holdings Limited, the holding company of Equitas Small Finance Bank. Post the IPO, the stake of Equitas Holdings Limited will reduce to around 82 per cent. The shares will be listed on the stock exchanges on November 2, 2020.
Equitas Small Finance Bank will use the IPO proceeds to augment its Tier I capital base in order to meet future capital requirements.
Equitas Small Finance Bank is a micro-finance institution incorporated in Chennai in 1993. As of financial year 2019, it was the largest small finance bank in India in terms of banking outlets and second largest in the country by way of assets under management.
Equitas Small Finance Bank provides microfinance loans, housing finance and vehicle finance. It also deals with savings accounts, mutual funds and third-party insurance products.
Edelweiss Financial Services, IFL Holdings and JM Financial Consultants are the lead managers of the public offering and KFintech Private Limited is the registrar.
This the third public issue in small finance bank space, following in the foot-steps of AU Small Finance Bank and Ujjivan Small Finance Bank.
Edelweiss Financial Services, IFL Holdings and JM Financial Consultants are the lead managers of the initial public offer, whereas KFintech Private Limited is the registrar to the issue.
Here's how to check the allotment status of Equitas Small Finance Bank public offer
Access the website of the registrar, KFin Technologies.
- Select 'Equitas Small Finance Bank' from the dropdown
- Check box either 'Application Number' or 'DP ID/Client ID' or 'PAN,'
- In case of the application number box, select application type (ASBA or NON ASBA) and enter Application Number.
- If the DPID/Client ID box is chosen, select Depository 'NSDL' or 'CDSL' and enter 'DP ID (depository participant ID)/Client ID'.
- If PAN option box was chosen, enter the permanent account number
- Enter 'Captcha'
- Click the 'Submit' button.
You can also check the allotment status on the BSE website:
- Check box 'Equity' in Issue Type
- Under Issue Name, choose 'Equitas Small Finance Bank '
- Enter application number
- Enter PAN Card number
- Click the 'Search' button
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