Equitas Holdings IPO to open on April 5

The company is expected to raise an estimated Rs 2,000 crore through the IPO

The initial public offering (IPO) of Equitas Holdings would open on April 5 and close on April 7, the company said on Monday.

The firm, which has a licence for a small finance bank, is reportedly planning to raise Rs 2,000 crore.

The price band is Rs 109-110 per equity share having a face value of Rs 10. The floor price is 10.9 times the face value and the cap price is 11 times the face value.

The IPO consists of a fresh issue of shares aggregating Rs 720 crore and an offer for sale of equity shares held by P N Vasudevan, managing director of the company, and private equity shareholders. These include International Finance Corporation, Nederlandse Financierings, Aavishkaar Goodwell India Microfinance Development Company, and Helion Venture Partners, among others.