Equitas Small Finance Bank to sell shares at Rs 53.59

Kolkata: Equitas Small Finance Bank has decided to sell equity shares to institutional investors at Rs 53.59 a piece, which is at about 5 per cent discount of the floor price of Rs 56.40.

The bank's share closed Friday at Rs 53.45 on BSE. The face of value of the shares is Rs 10.

The share sale through qualified institutional placement (QIP) is aimed at reducing the promoters holding to 75 per cent and raising public shareholding to a minimum 25 per cent, as stipulated by the market regulator Securities & Exchange Board of India.


The promoter of the bank – Equitas Holdings – holds 81.36 per cent while the balance 18.64 per cent lies with the public, according to the shareholding pattern at the end of December 2021.

The QIP would fetch the bank up to Rs 1,000 crore. The exact details of allocation will be known Saturday.