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Consider this: on deposits below Rs 1 crore, the largest lender of the country, State Bank of India (SBI), offers 6.8 per cent interest for a tenure of one year to less than two years. 517.60 Crore The initial public offering of Equitas Small Finance Bank opened for subscription today. ), Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Business India News Headlines: Cyril Amarchand Mangaldas Advises Equitas Small Finance Bank On Its IPO. The issue was subscribed 0.67 times. Equitas Small Finance Bank is a small finance bank founded in 2007 by Equitas as a microfinance lender, with headquarters in Chennai, India.After receiving license from the Reserve Bank of India (RBI) on 30 June 2016, Equitas began banking on 5 September 2016 as a subsidiary of holding company Equitas Holdings Ltd. With effect from 4 February 2017, Equitas became a scheduled bank. This shows the market is not willing to give good value to Equitas SFB. The Rs 518-crore Equitas Small Finance Bank IPO (initial public offer), which was open for subscription from Oct 20-22, is scheduled to finalise its basis of allotment today. The public issue of Equitas Small Finance Bank had been subscribed 67 percent around noon on October 21, the second day of bidding. The IPO application ends on Oct 22, 2020. The equity shares of the company to be list at BSE, NSE. After the public issue, the stake of Equitas Holdings Limited in Equitas Small Finance Bank would be reduced to about 82 per cent. Your support through more subscriptions can help us practise the journalism to which we are committed. Equitas received a license to operate Small Finance Bank on Oct 15 and for IPO on Apr 16 to comply with requirements of domestic shareholding. The initial public offering (IPO) of Equitas Small Finance Bank, the subsidiary of Equitas Holdings, opened for bidding on Tuesday. Brokerages recommend investors to buy into the Equitas Small Finance Bank IPO, but warn of risks as well. The bank proposes to utilize the net proceeds from the offer towards augmenting bank's Tier I capital base to meet bank's future capital requirements such as organic growth and expansion and to comply with the regulatory requirements for enhanced capital base, as may be prescribed in the future. As a premium subscriber you get an across device unfettered access to a range of services which include: Welcome to the premium services of Business Standard brought to you courtesy FIS. Enjoy Reading! Last Updated at October 21, 2020 17:51 IST. The bank has successfully diversified its loan portfolio and significantly reduced its dependence on microfinance business as compared to other microfinance companies that have converted to SFBs. The IPO Shares of Equitas Small Finance Bank Ltd IPO are proposed to list on Monday, November 2, 2020 at BSE, NSE. We look forward to getting back to normalcy by the fourth quarter: PN Vasudevan, Equitas SFB Equitas Small Finance Bank IPO Details: Market Guru Anil Singhvi says avoid Equitas Small ... Equitas Small Finance Bank (ESFB) announced launch of ''Eva'' savings account for women offering 7 per cent interest. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. The company has … Team Business Standard, Last Updated at October 21, 2020 17:51 IST, Mrs. Bectors Food Specialities IPO subscribed over 11 times, Mrs. Bectors Food Specialities IPO subscribed 3.72 times, Burger King India IPO ends with bumper subscription, Burger King India IPO subscribed 157 times, Burger King India IPO subscribed over 9 times, Burger King India IPO subscribed 3.13 times, Gland Pharma IPO subscribed over two times, Equitas Small Finance Bank IPO subscribed 39%, Equitas Small Finance Bank moratorium declines to 35% in August, Equitas Small Finance Bank provides business update for August, Details of RHP filed by Equitas Small Finance Bank for proposed IPO, Gateway Distriparks update on proposed divestment of Snowman Logistics to Adani Logistics, Access Exclusive content - articles, features & opinion pieces, Weekly Industry/Genre specific newsletters - Choose multiple industries/genres, Access to 17 plus years of content archives, Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box, End of day news alerts on 5 companies (via email). © 2020 Chittorgarh Infotech Pvt Ltd. All Rights Reserved. The company's market valuation was at Rs 3,727.77 crore on the BSE during the close of trade. Now, they are coming up with an IPO at Rs.33 per share. (This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed. The listing of the bank is also in line with terms of the RBI in-principle approval, RBI final approval and SFB licensing guidelines, requiring the bank to list its equity shares on the stock exchanges within three years from the date of commencement of business by the bank. Equitas Small Finance Bank IPO opens: Should you subscribe? Bloomberg | Quint is a multiplatform, Indian business and financial news company. The equity shares of the company to be list at BSE, NSE. Equitas Small Finance Bank (ESFB) has reduced the size of its initial public offering (IPO) to Rs 280 crore from Rs 550 crore. ESFBL, the wholly-owned subsidiary of NBFC Equitas Holdings, provides agri-loans, housing loans, LAP, micro lending and vehicle loans to unserved and underserved segments of the economy. Its strength lies in promoting financial inclusion within these segments. Digital Editor. |. Addition of new servers led to massive outage last week: AWS. The Equitas Small Finance Bank IPO is proposed to open on Oct 20, 2020. Equitas Small Finance Bank has launched its IPO The period for subscription began on 20th October and shall end on 22nd October 2020. The initial public offer (IPO) of Equitas Small Finance Bank received bids for 7.80 crore shares on Wednesday, 21 October 2020, as against 11.58 crore shares on offer, as per the National Stock Exchange of India (NSE) website data at 17:00 IST. The IPO consists of fresh issue of shares amounting to Rs 280 crore and an offer of sale comprises of 7.20 crore shares by the bank's promoter, Equitas Holdings (including anchor portion of 4.23 crore equity shares). The public issue will close on Oct 22, 2020. The 518-crore Equitas Small Finance Bank initial public offer (IPO) has been subscribed 64 per cent so far on day 2 of the three-day bidding process. The initial public offering (IPO) of Equitas Small Finance Bank, a subsidiary of Equitas Holdings, has subscribed 39 percent on October 20, the first day of bidding. The public issue of Equitas Small Finance Bank IPO was opened on Oct 20, 2020 and closed for subscription on Oct 22, 2020. Retail investors can apply in the retail or non-institutional investor category from Oct 20, 2020 to Oct 22, 2020. The scrip will be listed on 2nd November 2020. Business Standard is happy to inform you of the launch of "Business Standard Premium Services". 32-33 per Share Issue Size Rs. The public issue of Equitas Small Finance Bank IPO was opened on Oct 20, 2020 and closed for subscription on Oct 22, 2020. Equitas Small Finance Bank IPO News: Equitas Small Finance Bank Limited will open the initial public offer (IPO) of equity shares of face value of Rs. The issue is priced at ₹32 to ₹33 per equity share. Mumbai (Maharashtra)/New Delhi [India], November 20 (ANI/NewsVoir): Cyril Amarchand Mangaldas acted as the legal counsel to Equitas Small Finance Bank Limited (Equitas Bank) and … The issue opens on Oct 20, 2020 and closes for subscription on Oct 22, 2020. New Delhi: Equitas Small Finance Bank (SFB) has launched an initial public offer (IPO) to raise Rs 280 crore through fresh issue of shares to boost its tier-I capital. Each retail investor will get a minimum of 1 lot subject to the availability of shares in the retail portion. The initial public offer (IPO) of Equitas Small Finance Bank received bids for 7.80 crore shares on Wednesday, 21 October 2020, as against 11.58 crore shares on offer, as per the National Stock Exchange of India (NSE) website data at 17:00 IST. Small finance banks (SFBs), too, have cut their ... Ujjivan Small ... Bank (SFB) on Saturday reported a marginal rise in net profit at Rs 96 crore for September quarter as provisions spiked.The ... Equitas Holdings – listed at a discount to the ... Pixabay pic. Equitas Small Finance Bank IPO is a main-board IPO of [.] document.write("");googletag.cmd.push(function(){googletag.defineOutOfPageSlot('/6516239/outofpage_1x1_desktop','div-gpt-ad-1490771277198-0').addService(googletag.pubads());googletag.pubads().enableSyncRendering();googletag.enableServices();}); The issue opened for bidding on Tuesday, 20 October 2020 and it will close on Thursday, 22 October 2020. When Equitas Small Finance Bank IPO will come? The initial public offer (IPO) of Equitas Small Finance Bank received bids for 7.80 crore shares on Wednesday, 21 October 2020, as against 11.58 crore shares on offer, as per the National Stock Exchange of India (NSE) website data at 17:00 IST. The operative subsidiaries were merged into holding companies, the financial services business was transferred to SFB subsidiary and banking operations started in Sep-16. 52 per share. The issue was subscribed 1.95 times. The price band for the IPO is set at Rs 32-33 per share. Equitas Small Finance Bank IPO opens today; Key highlights of the issue The IPO involves a fresh issue of Rs280cr and offers for sale (OFS) of up to 7.2cr equity shares by parent Equitas Holding. Equitas Small Finance Bank Ltd is entering in the capital market with an IPO of [.] Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. If Equitas Small Finance Bank IPO oversubscribed in the retail category, the Equitas Small Finance Bank IPO shares will be distributed on a proportionate basis to Retail Individual Investors (RII). The minimum order quantity is 450 Shares. How to purchase Equitas Small Finance Bank IPO? The company has … Kindly visit the Manage my subscription page to discover the benefits of this programme. Incorporated in 1993, Madras based Equitas Small Finance Bank Ltd (ESFBL) in Fiscal 2019 was the largest small finance bank in India considering banking outlets and the 2nd largest small finance bank considering assets under management and total deposits. Copyrights © 2020 Business Standard Private Ltd. All rights reserved. Equity Shares of Rs 10 aggregating up to Rs [.] We, however, have a request. Equitas Small Finance Bank is the largest small finance bank 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 FY2019. ESFB will issue Rs 280 crore worth of fresh equity in the IPO. The bank offers a range of banking products and services to customers with a focus on serving the financially unserved and underserved customer segments in India. Support quality journalism and subscribe to Business Standard. The price range for the company’s IPO was fixed at Rs 32-33 per share. The Rs 518-crore Equitas Small Finance Bank initial public offer (IPO) will open for subscription on Tuesday, October 20, 2020. The Rs 518-crore Equitas Small Finance Bank initial public offer (IPO) will open for subscription on Tuesday, October 20, 2020. Post-IPO, the Promoters holding will stand at ~82%. Besides, its promoter Equitas Holdings (EHL) will sell shares worth up to Rs 238 crore to … The IPO received bids for 7.80 crore shares as against 11.58 crore shares on offer. The IPO Shares of Equitas Small Finance Bank Ltd IPO are proposed to list on Monday, November 2, 2020 at BSE, NSE. The price for the issue has been set at Rs - Rs Per Equity Share. Equitas Small Finance Bank’s (ESFB) initial public offering (IPO) was subscribed 40 per cent on Tuesday. Equitas Small Finance Bank's Rs 517.6 crore initial public offer (IPO) will opens for bidding on Tuesday i.e. Global coalition to #MakeAmazonPay Equitas Small Finance Bank recorded net profit of Rs 57.67 crore and total income of Rs 750.96 crore in the quarter ended on 30 June 2020. The initial public offer (IPO) of Equitas Small Finance Bank received bids for 22.57 crore shares as against 11.58 crore shares on offer, as per the National Stock Exchange of India (NSE) website data at 17:00 IST. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Unlike other microfinance companies, it has a diversified loan portfolio and less dependence on microfinance business. Equitas Small Finance Bank had become a scheduled bank in February 2017. It has set a price band of Rs 32-33 for the IPO. The IPO will remain open for three days, from October 20 till October 22. The current offer for sale is of 7.2 crore equity shares amounting to Rs 237.60 crores and a fresh issue of equity shares aggregating to Rs 237 crores. We believe in free, fair and credible journalism. The issue was subscribed 0.67 times. IPO Particulars of Equitas Small Finance Bank Limited: IPO Opens on : 20 Oct 2020 IPO Closes on : 22 Oct 2020 Issue Type: Book Built Issue IPO PUBLIC OFFER OF UP TO 15 EQUITY SHARES OF FACE VALUE OF Rs 10 EACH (“EQUITY SHARES”) OF EQUITAS SMALL FINANCE BANK LIMITED FOR CASH AT A PRICE OF Rs. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance. The price for the issue has been set at Rs - Rs Per Equity Share. 1) Select IPO Name - Equitas Small Finance Bank 2) Check box either Application Number, DPID/Client ID or PAN Number. At the upper price limit, the bank intends to raise up to Rs 517.6 crore to augment its tier-I capital base to … Ahead of the IPO, Equitas Small Finance Bank raised Rs 139.68 crore from anchor investors on 19 October 2020. The Rs 517-crore initial public offer of Equitas Small Finance Bank was subscribed 1.95 times last month. October 20. The Chennai-based financial institution said that 35 anchor investors have participated in the pre IPO allocation of 4.23 ... up to 7.2 crore equity shares by Equitas Holdings Limited, its parent ... Shares of India Ltd. more than doubled over offer price on its market debut after investors piled into its maiden offer that concluded on Dec. 4. The equity shares of the company to be list at BSE, NSE. Crore. Equitas Small Finance Bank IPO Listing Date and Information: The allotment status of Equitas Small Finance Bank Ltd IPO is now available online. When Equitas Small Finance Bank IPO expected date? Bloomberg. 3. With the main focus on financially unserved and underserved customers, the bank offers a wide range of banking products and services. Equitas Small Finance Bank IPO Live Subscription, Equitas Small Finance Bank IPO Allotment Status, Equitas Small Finance Bank IPO Basis of Allotment Document, 3 Easy steps to trade in F&O (Equity Future Derivatives) at BSE, NSE, HUF Account Basics Explained (Bank, Demat and Trading Account), Minor Demat & Trading Account Explained - IPO, Tax, NCD FAQ, Indian Railway Finance Corporation Limited. A day earlier, the Chennai-based firm had allotted shares worth Rs 140 crore to anchor investors. 2.Equitas Small Finance bank has raised money in the Pre-IPO round at Rs. As per RBI regulations, they have to reduce it to 40% before Sept-2021. The quick-service restaurant chain operator listed at ... Mumbai (Maharashtra)/New Delhi [India], November 20 (ANI/NewsVoir): Cyril Amarchand Mangaldas acted as the legal counsel to Equitas Small Finance ... on its Initial Public Offering (IPO ... With rates at historical lows, those depending on bank fixed deposits (FDs) such as senior citizens have been left with fewer options than ever before. Equitas Small Finance Bank IPO Listing Date and Information: Equitas Small Finance Bank Ltd Listing Date The Rs 518 crore initial public offer (IPO) of Equitas Small Finance Bank, which was open for bidding between October 20 and 22, was subscribed 1.95 times at close. Bloomberg the Company & Its Products The Quint. After closing the Rs 518-crore public issue last week, Equitas Small Finance Bank is expected to finalise the basis of allotment on October 27. The public issue of Equitas Small Finance Bank IPO was open on Oct 20, 2020 and closed for subscription on Oct 22, 2020. The Equitas Small Finance Bank IPO can be applied online through Net Bank (ASBA method) or the stock broker (UPI method). It has finalised allotment of 4,23,27,271 equity shares to anchor investors at upper price band of Rs 33 per equity share. equity shares of the face value of ₹10 aggregating up to ₹517.60 Crores. Capital Market  As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. The issue also comprises of secondary share sale worth Rs 237 crore. After two hiatuses, the initial public offer (IPO) of Equitas Small Finance Bank is set to open on Tuesday, October 20 with a price band of Rs 32-33 per share. The Equitas Small Finance Bank IPO will open for subscription on Oct 20, 2020. The issue of Equitas Small Finance Bank Ltd opens on Oct 20, 2020 and closes for subscription on Oct 22, 2020. The IPO opens on Oct 20, 2020, and closes on Oct 22, 2020. The issue price is fixed in the price band of Rs 32-Rs 33 per share. The issue was subscribed 0.67 times. The qualified institutional buyers (QIBs) category was subscribed 3.91 times. Was fixed at Rs 3,727.77 crore on the BSE during the close of trade in Sep-16, Equitas Small Bank! Band of Rs 10 aggregating up to ₹517.60 Crores the second day of bidding which we are committed before.... Help us achieve the goals of offering you even better and more relevant content relevant content up with IPO... In the retail portion 21, 2020 face value of ₹10 aggregating up to Rs [ ]... Of risks as well Pvt Ltd. All Rights Reserved issue opens on Oct 20 2020... 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