Equitas Small Finance Bank - IPO
Code : FAC0060 |
Region : Asia |
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Introduction: On October 20, 2020, Equitas Small Finance Bank (Equitas), the wholly-owned subsidiary of Non-Banking Financial Company (NBFC) Equitas Holdings Limited (EHL), announced the launch of its Initial Public Offering (IPO). The Equitas IPO was the third IPO from a Small Finance Bank (SFB) in India, the first two being AU SFB and Ujjivan SFB. Valued at Rs. 5180 million, the Equitas IPO comprised approximately 156 million shares, of which 84 million shares were offered directly to the public, while the remaining 72 million shares were related to Offer For Sale (OFS) by the promoters and were not a source of finance for the company. The main aim of the Equitas OFS was to achieve a dilution of the promoter's share in the overall share capital as per the Reserve Bank of India (RBI) guidelines. Prior to the announcement of the IPO, Equitas had raised Rs. 1400 million through the sale of 42.3 million shares.. |
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