Skip to main content

Equitas Small Finance Bank may launch IPO on October 20, to raise Rs 532 crore

At the time of filing DRHP in December 2019, promoter Equitas Holdings held 95.49 percent stake in Equitas Small Finance Bank.

Equitas Small Finance Bank, the subsidiary of Equitas Holdings, may be launching its public issue on October 20, people familiar with IPO development told Moneycontrol. If it happens, it would be 12th IPO this year.

The company in consultation with merchant bankers might have fixed a price band at Rs 34-35 per share and the closing date for issue could be October 22, sources told Moneycontrol.

As per the additional information to its DRHP filed with Sebi last month, the public issue consists of a fresh issue of 8 crore equity shares and an offer for sale of 7.2 crore equity shares.



Considering the upper price band, the total issue size could be Rs 532 crore (fresh issue of Rs 280 crore and offer for sale of Rs 252 crore).

The offer includes a reservation of up to Rs 1 crore worth of shares for eligible employees of Equitas Small Finance Bank and Rs 51 crore of shares for Equitas Holdings' shareholders.

The proposed issue size, as per DRHP, included a fresh issue of Rs 550 crore and an offer for sale of 8 crore equity shares by Equitas Holdings, but later in view of the relaxation permitted by the Securities and Exchange Board of India, the issue size reduced to Rs 280 crore (fresh issue) and 7.2 crore shares (offer for sale by promoter).

Accordingly, the reservation portion of Equitas Holdings shareholders has also been revised from up to Rs 100 crore to up to Rs 51 crore and the employee reservation portion of Equitas Small Finance Bank has been revised from up to Rs 5 crore to up to Rs 1 crore.

Equitas Small Finance Bank (SFB) was the largest SFB in India in terms of number of banking outlets, and the second largest SFB in India in terms of assets under management and total deposits in Fiscal 2019, the CRISIL report said.

SFB offers a range of banking products and services to customers with a focus on serving the financially unserved and underserved customer segments in India.

At the time of filing DRHP in December 2019, promoter Equitas Holdings held 95.49 percent stake in Equitas Small Finance Bank.

JM Financial, Edelweiss Financial Services and IIFL Securities are appointed as book running lead managers to the issue.

Labels:

Comments

Post a Comment

Popular posts from this blog

Ashoka Buildcon share price up 4% on bagging 2 NHAI projects

The share touched its 52-week high Rs 127.90 and 52-week low Rs 37.00 on 23 September, 2019 and 03 April, 2020, respectively. Ashoka Buildcon share price added over 4 percent in early trade on September 8 after the company emerged as the lowest bidder (L-1) for the two NHAI projects. The aggregate quoted value of the projects is Rs 1,390 crore. The company had submitted bids to National Highway Authority of India (NHAI) for the project of four laning of Arra h to Pararia section of NH-319(Old NH-30) in the State of Bihar under Bharatmala pariyojana Phase -1 on EPC Mode (Package-I) and Four laning of Pararia to Mohania section of NH-319(Old NH-30) in Bihar under Bharatmala Pariyojana Phase-I on EPC Mode (Package II). At 09:23 hrs Ashoka Buildcon was quoting at Rs 70.60, up Rs 2.40, or 3.52 percent on the BSE. The share touched its 52-week high Rs 127.90 and 52-week low Rs 37.00 on 23 September, 2019 and 03 April, 2020, respectively. Currently, it is trading 44.8 percen...
Post a Comment
Read more

Reliance Jio Q3 results: Profit grows to Rs 3,489 crore; ARPU rises to Rs 151

  The average revenue per user (ARPU) during the quarter came at Rs 151 per subscriber per month as against Rs 145 per subscriber per month in the September quarter. Reliance Jio, the telecommunications arm of Jio Platforms, on January 22 posted a net profit of Rs 3,489 crore for the quarter ended December 31, 2020. The profit was higher than the street expectations as analysts in a CNBC-TV18 poll had estimated the number at Rs 3,200 crore. Jio's net profit grew 15.5 percent QoQ as in the September quarter of FY21, its profit was Rs 3,020 crore. The average revenue per user (ARPU) during the quarter came at Rs 151 per subscriber per month as against Rs 145 per subscriber per month in the September quarter. A CNBC-TV18 poll had estimated ARPU at Rs 148.2. Revenue, including access revenues for the quarter, was Rs 22,858 crore ($3.1 billion), up 5.3 percent QoQ. A CNBC-TV18 poll had estimated revenue to the tune of Rs 18,165 crore. EBITDA for the quarter stood at Rs 8,483 crore ...
Post a Comment
Read more

Info Edge share price gains after Q1 profit surges 149% YoY

The company reported consolidated net profit at Rs 93.66 crore which surged 149 percent as compared to Q1FY20 when it reported loss of Rs 190.91 crore. Info Edge share price gained over 2 percent in the morning trade on September 8, a day after the company declared its Q1 results. The company reported consolidated net profit at Rs 93.66 crore, which surged 149 percent, as compared to Q1FY20, when it reported loss of Rs 190.91 crore. The net profit margin in Q1FY21 came in at 32.86 percent which jumped by 92.58 percent YoY. Consolidated net revenue in Q1FY21 stood at Rs 285 crore, which fell by 10.85 percent YoY from Rs 319.7 crore in Q1FY20. Its EBITDA stood at Rs 104 crore in Q1FY21 which jumped 16.62 percent YoY. The stock price gained 62 percent in the last 1 year and was trading at Rs 3,370.35, up Rs 78.45, or 2.38 percent. It has touched an intraday high of Rs 3,400.00 and an intraday low of Rs 3,363.05. According to Moneycontrol SWOT Analysis powered by Trendlyne, F...
Post a Comment
Read more