New Delhi: Equitas Small Finance Bank's initial public offering (IPO) over Rs 500 crore opens on Tuesday. The IPO consists of a fresh issue aggregating up to Rs 280 crore and an offer for sale of up to 7.2 crore equity shares by Equitas Holdings Limited, the holding company of the bank.


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Here is all you need to know about the Equitas Small Finance Bank IPO


  • The offer opens on October 20 and closes on October 22.
     
  • Equitas Small Finance Bank fixed the price band for its IPO at Rs 32-Rs 33 per equity share.
     
  • The IPO consists of a fresh issue aggregating up to Rs 280 crore.
     
  • It consists an offer for sale of up to 7.2 crore equity shares by Equitas Holdings Limited, the holding company of the bank.
     
  • Post this offer, Equitas Holdings share in the bank will come down to 82-83 per cent from 95.49 per cent.
     
  • The bank's capital adequacy ratio is around 21 percent level and post the issue it will improve to 22 per cent.
     
  • Equitas SFB will complete its five years of operations in September 2021.

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As per the RBI norms, the promoter of a small finance bank must reduce their shareholdings in the bank to 40 per cent from five years of operations.