Equitas Small Finance Bank Limited Raises Rs 139.68 Cr from 35 Anchor Investors Ahead of the IPO

MUMBAI:
Equitas Small Finance Bank Limited (the “Company’), the largest SFB in India in terms of number of banking outlets, and the second largest SFB in India in terms of assets under management and total deposits in Fiscal 2019. (Source: CRISIL Report), allotted 42,327,271 equity shares to 35 anchor investors and raised Rs 139.68 crore ahead of the company’s proposed IPO at an upper price band of Rs 33 per equity shares.

The Initial Public offering consists of a fresh issue aggregating up to Rs. 2,800 million (the “Fresh Issue”) and an offer for sale of up to 72,000,000 Equity Shares by Equitas Holdings Limited (the “Promoter Selling Shareholder”, and such Equity Shares the “Offered Shares”). The Offer includes a reservation aggregating up to Rs. 510 million, for subscription by Eligible EHL Shareholders (“EHL Shareholder Reservation Portion”) and a reservation aggregating up to Rs. 10 million, for subscription by Eligible Employees (the “Employee Reservation Portion”). The Offer less the EHL Shareholder Reservation Portion and the Employee Reservation Portion is hereinafter referred to as the “Net Offer”.

Bids can be made for a minimum of 450 Equity Shares and in multiples of 450 Equity Shares thereafter.

The Equity Shares offered pursuant to the Offer are proposed to be listed on BSE Limited and National Stock Exchange of India Limited (“NSE”). For the purpose of the Offer, NSE is the designated stock exchange.

JM Financial Limited, Edelweiss Financial Services Limited and IIFL Securities Limited are the book running lead managers to the Offer (“BRLMs”).