Equitas Small Finance Bank IPO Subscribed Nearly 2 Times On Final Day Of Bidding
Pedestrians look up at an electronic screen and a digital ticker board at the Bombay Stock Exchange (BSE) building in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Equitas Small Finance Bank IPO Subscribed Nearly 2 Times On Final Day Of Bidding

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The initial public offer of Equitas Small Finance Bank was subscribed 1.95 times on the last day of bidding on Thursday.

The Rs 517-crore IPO received bids for 22,57,94,250 shares against 11,58,50,001 shares on offer, according to data available with the NSE.

The qualified institutional buyers category was subscribed 3.91 times, non-institutional investors category 22% and retail individual investors category was subscribed 2.08 times.

The initial public offer, which opened for bidding on Tuesday, comprises a fresh issue of Rs 280 crore and an offer for sale of 7,20,00,000 shares.

The price range for the IPO has been fixed at Rs 32-33 per share.

Equitas Small Finance Bank has raised Rs 139.68 crore from anchor investors.

JM Financial, IIFL Securities and Edelweiss Financial Services are managing the offer.

Shares of the company are proposed to be listed on BSE and NSE.

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