The shares of Equitas Small Finance Bank IPO will be available in the lots of 450 and the price band has been fixed between Rs 32 - 33 per share
Equitas Small Finance Bank (SFB) is likely to see good response for its Rs 520-crore IPO, going by the trend in the grey market
Price band fixed at Rs 32-33 a share; promoter stake to drop to 82-83% from 95.49% currently
Equitas Small Finance Bank on Thursday fixed the price band for its over Rs 500 crore initial public offering (IPO) at Rs 32-Rs 33 per equity share
ESFB filed the papers on October 11, EHL said in a regulatory filing. The prospectus was taken on record by the RoC on October 13, it added
Equitas Small Finance Bank had received the Sebi's approval for the IPO on March 3
Small finance lender Equitas Small Finance Bank on Monday reported a profit after tax of Rs 60 crore for the quarter ended June.
Bank has made a provision of Rs 99.63 cr for the period ended March 31, 2020, based on assessment of recoverability of advances
Five small finance banks, including Equitas SFB, are due for listing by 2021
The equity shares of the company will be listed on the BSE and the NSE.
Board of Directors of of Equitas Small Finace Bank (ESFBL/ Bank) had approved to issue of 4,74,58,239 equity shares of Rs 10 each at a price of Rs 52.68 per equity share
This scheme of arrangement is subject to approval from the Sebi, RBI, NCLT, shareholders and the creditors
The regulator has also frozen the pay of Managing Director and Chief Executive Officer Vasudevan P N as the bank violated listing norms
Experts say approval from Sebi may not come through easily as schemes of arrangement similar to the one proposed by Equitas could give room to indirect listing of the subsidiary
After five years of operations as SFBs, RBI norms allow the SFBs to go for reverse merger
With reverse merger not being an option as per Reserve Bank of India (RBI) norms, this may offer the best exit for shareholders of Equity Holdings
The promoter shareholding in the small finance bank has to be maintained at least 40 per cent, for a period of five years
Equitas has in the past year started a Small Finance Bank (SFB)
The company is expected to invest around Rs 120 crore in branch infrastructure, says Equitas MD
The bank's networth stood at Rs 1,960 crore