KRChoksey: Equitas Small Finance Bank IPO - Investment Rationale
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Equitas Small Finance Bank is a wholly owned subsidiary of Equitas Holdings Ltd. launched in September 2016, as promoters had received Reserve Bank of India in-principle approval to establish a small finance bank.
It has a diversified business across small business loans, microfinance, vehicle finance and micro and small enterprises finance and non-banking financial companies while having strong retail deposits (current account and savings account + term deposits).
It also offers third party products like insurance, FASTag for toll plazas and asset management in mutual funds and portfolio management service.
It has 856 banking outlets and 322 ATMs spread across 17 states and union territories in India.
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