Chennai, NFAPost: Equitas Small Finance Bank Limited, the largest SFB in India in terms of number of banking outlets, will open the initial public offer of equity shares of face value of Rs 10 each on October 20, 2020.
The Offer will close on October 22, 2020. The price band of the Offer has been fixed at Rs 32 to Rs 33 per Equity Share.
The Initial Public offering consists of a fresh issue aggregating up to Rs 280 crore (the “Fresh Issue”) and an offer for sale of up to 72,000,000 Equity Shares by Equitas Holdings Limited (the “Promoter Selling Shareholder”, and such Equity Shares the “Offered Shares”).
The Offer includes a reservation aggregating up to Rs 51 crore, for subscription by Eligible EHL Shareholders (“EHL Shareholder Reservation Portion”) and a reservation aggregating up to Rs 1 crore, for subscription by Eligible Employees (the “Employee Reservation Portion”).
Bids can be made for a minimum of 450 Equity Shares and in multiples of 450 Equity Shares thereafter.
The Equity Shares offered in this Offer are proposed to be listed at both BSE Limited and the National Stock Exchange of India Limited (“NSE”) post the listing. For the purpose of the Offer, NSE is the designated stock exchange.
JM Financial Limited, Edelweiss Financial Services Limited and IIFL Securities Limited are the book running lead managers to the Offer (“BRLMs”).