Equitas Small Finance Bank IPO subscribed 67% on second day of bidding

Topics Equitas SFB | Equitas IPO

The portion reserved for qualified institutional buyers (QIBs) was subscribed 5 per cent, non institutional investors 5 per cent and retail individual investors 1.42 times.

The initial public offer of Equitas Small Finance Bank was subscribed 67 per cent on the second day of bidding on Wednesday.

The IPO received bids for 7,80,26,850 shares against 11,58,50,001 shares on offer, according to data available with the NSE.

The portion reserved for qualified institutional buyers (QIBs) was subscribed 5 per cent, non institutional investors 5 per cent and retail individual investors 1.42 times.

The initial public offer comprises a fresh issue of Rs 280 crore and an offer for sale of 7,20,00,000 shares.

Price range for Equitas Small Finance Bank IPO is at Rs 32-33 per share.

Equitas Small Finance Bank has raised Rs 139.68 crore from anchor investors.

JM Financial, IIFL Securities and Edelweiss Financial Services are the managers to the offer. Shares of the company are proposed to be listed on BSE and National Stock Exchange of India.


(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


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