Equitas SFB shares close nearly 1% below IPO price on market debut

Shares of Equitas Small Finance Bank on Monday debuted with a 6 per cent discount against its issue price of Rs 33 and finally closed nearly 1 per cent lower.

The stock listed at Rs 31, a decline of 6 per cent against the issue price on the BSE. During the day, it touched a high of Rs 33.05 and a low of Rs 30.10. It finally closed the day at Rs  32.75, 0.75 per cent lower.

On the NSE, it debuted at Rs 31.10, falling 5.75 per cent from the issue price. The stock closed at Rs 32.80, a drop of 0.60 per cent.

The Rs 517-crore initial public offer of Equitas Small Finance Bank was subscribed 1.95 times last month. The price range for the company’s IPO was fixed at Rs 32-33 per share.

The company's market valuation was at Rs 3,727.77 crore on the BSE during the close of trade.