Another opportunity of earning in the stock market is going to open. Another strong IPO is about to enter the market. The IPO that came in the last two months gave investors a chance to earn huge profits. IPOs from Happiest Minds to Mazgaon Dock have given excellent returns. On the day of listing, investors have gained more than double. Now on 20 October, the IPO of Equitas Small Finance Bank will be open for retail investors.
Price band is fixed
The company has set a target of raising Rs 280 crore under the IPO. The company has given this information in the regulatory filing. Earlier on 11 October 2020, Equitas Small Finance Bank filed an RHP with the Chennai ROC regarding the IPO. Equitas Small Finance Bank has fixed the price of shares for an IPO of Rs 500 crore. The company has fixed the price band of the IPO at Rs 32-33. 280 crores of new shares will be issued under this IPO.
A chance to invest money by 22 October
Allotment of 7.2 crore equity shares of Equitas Holdings Limited, the holding company of the bank, will be done through Offer for Sale. The company will issue a total of 15.2 million shares in the IPO. In this, 8 crore fresh shares will be issued. 7.2 crore shares will be offered for sale. Shares worth one crore rupees will be reserved for bank employees and shareholders of 51 crore rupees Equitas Holdings.
Lead manager for IPO
The company has appointed JM Financial, Edelweiss Financial Services and IIFL Securities as lead managers for the IPO of Equitas Small Finance Bank. Equitas Small Finance Bank is the largest small finance bank in the country in terms of number of bank branches. It is the second largest small finance bank in the country in terms of assets and bank deposits.
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12th IPO of 2020
The IPO of Equitas Small Finance Bank will be the 12th IPO of the year 2020. This IPO will close on 22 October. It will be listed in the market on November 2.
