Equitas Small Finance Bank submits draft papers for Rs 280-crore IPO

Equitas Holdings (EHL) on Wednesday said its subsidiary Equitas Small Finance Bank (ESFB) has filed its red herring prospectus with the Registrar of Companies (RoC) for a Rs 280-crore IPO.

ESFB filed the papers on October 11, EHL said in a regulatory filing. The prospectus was taken on record by the RoC on October 13, it added.

According to the proposed offer, the SFB will raise fresh capital of up to Rs 2,800 million, with promoter EHL set to sell up to 7,20,00,000 equity shares, it said.

The offer period for anchor investors will be till one day prior to the bid opening, i.e. October 19.

The bid/offer opening date is October 20, while the closing is set for October 22. The expected date of the listing has been fixed for November 2.

Equity shares aggregating up to Rs 51 crore will be available for allocation to eligible EHL shareholders, the company said. 

Shares of Equitas Holdings closed at Rs 51.70 on the BSE, down 2.18 per cent from their previous close.