Equitas SFB IPO subscribed two times even as HNIs give offer a miss

The initial public offer (IPO) of Equitas Small Finance Bank garnered nearly two times subscription.

The institutional investor portion was subscribed 3.8 times, while the retail investor portion was subscribed 2 times. Wealthy investors gave the IPO a miss with the high networth individual (HNI) portion garnering just 0.23 times subscription.

The company had earlier allotted shares worth Rs 139 crore to 35 anchor investors. The IPO comprised a fresh issue of Rs 280 crore and an offer for sale of 7.2 crore equity shares. The company had priced the IPO between Rs 32-33 per share.

The net proceeds from