Equitas Small Bank to raise Rs 250 crore through private placement

Board of Directors of of Equitas Small Finace Bank (ESFBL/ Bank) had approved to issue of 4,74,58,239 equity shares of Rs 10 each at a price of Rs 52.68 per equity share

Equitas Small Finance Bank (SFB) on Saturday said it would raise Rs 250 crore through private placement of shares.

“India Infoline Finance (IIFL) Special Opportunities Fund, High Conviction Fund Series I and Focus Equity Strategy Fund - Trivantage Capital are the investors,” the lender said on Saturday.

The bank’s board had approved to issue 47,458,239 equity shares of Rs 10 each at a price of Rs 52.68 per equity share (including a premium of Rs 42.68 per equity share) aggregating Rs 250 crore. This will be for a 4.51 per cent stake in the post-issue paid-up share capital of the bank.

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