Latest News | Equitas Small Finance Bank IPO Subscribed 67 Pc on Second Day of Bidding

New Delhi, Oct 21 (PTI) The initial public offer of Equitas Small Finance Bank was subscribed 67 per cent on the second day of bidding on Wednesday.

The IPO received bids for 7,80,26,850 shares against 11,58,50,001 shares on offer, according to data available with the NSE.

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The portion reserved for qualified institutional buyers (QIBs) was subscribed 5 per cent, non institutional investors 5 per cent and retail individual investors 1.42 times.

The initial public offer comprises a fresh issue of Rs 280 crore and an offer for sale of 7,20,00,000 shares.

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Price range for Equitas Small Finance Bank IPO is at Rs 32-33 per share.

Equitas Small Finance Bank has raised Rs 139.68 crore from anchor investors.

JM Financial, IIFL Securities and Edelweiss Financial Services are the managers to the offer. Shares of the company are proposed to be listed on BSE and National Stock Exchange of India.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)