Equitas Small Finance Bank has announced the initial public offering (IPO) opening and listing date of its microfinance lender Equitas Small Finance Bank. The parent said the IPO will open on October 20, 2020, and will be available for subscription till October 22, 2020.
The parent also stated that the Equitas Small Finance Bank will be listed on November 02, 2020, after the public offering.
For anchor investors, the IPO will be available for bidding on October 19, 2020.
Equitas Small Finance Bank IPO involves a fresh issue of Rs280cr and offer for sale (OFS) of up to 7.2cr equity shares by Equitas Holding.
Equitas Holding on Wednesday said, equity shares aggregating up to Rs51cr available for allocation on a proportionate basis to Eligible EHL Shareholders i.e. those individuals and HUFs who are the public equity shareholders of EHL (excluding such persons who are not eligible to invest in the Offer under applicable laws, or are otherwise unable to make any such investment strictly in accordance with the terms of, and restrictions specified in, the RHP) as on the date of the red herring prospectus i.e. October 11, 2020.
Last month, the parent revised the Equitas Small Finance Bank IPO size with fresh issue reduced to Rs280cr from the previous Rs550cr. Further, the number of equity shares offered through the Offer for Sale (OFS) by the company, has been reduced to 7.2cr equity shares compared to earlier 8cr equity shares.
Also, the Employee Reservation Portion for Eligible Employees has been reduced to Rs1cr from Rs5cr. While the Equitas Holdings shareholder reservation portion was brought down to Rs51cr from the previous Rs100cr.