Equitas SFB IPO subscribed 40% on stock market debut on Tuesday

Equitas Small Finance Bank’s (ESFB) initial public offering (IPO) was subscribed 40 per cent on Tuesday. 

A day earlier, the Chennai-based firm had allotted shares worth Rs 140 crore to anchor investors. ESFB will issue Rs 280 crore worth of fresh equity in the IPO. The issue also comprises of secondary share sale worth Rs 237 crore.

ESFB, a subsidiary of Equitas Holdings, has fixed the price band for the IPO at Rs 32-33 per share. At the upper end, the company is valued at 1.26 times its adjusted book value.