Equitas Small Finance Bank shares on sale

Equitas Small Finance Bank shares on sale

Nowadays many companies are getting transformed from Private companies to a Public company. Most companies convert from the public to private to raise money. There can be many reasons for a company to change from a private to a public company could also have a different motive instead of this one, but many companies transform due to this reason.

One of the examples in it is the Equitas Small Finance Bank has also decided to turn in the public company from private. This company has decided to go public by doing the Initial Public Offerings. It is the way where many companies transform from the public to private. After this, the shares of this company will be traded openly. India is Testing GDP as Negative: Now, RBI Nudges Economy Further. |  Dialabank

In the initial stage that is IPO, the bids which were received for Equitas Small Finance Bank were for 7,80,26,850 shares against 11,58,50,001 shares. This is the data available with the National Stock Exchange [NSE].

According to the sources, the portion which will be reserved for the Qualified Institutional Buyers of Equitas Small Finance Bank is 5 per cent and the portion which will be reserved for the non-institutional investors will be 5 per cent. The portion which will be reserved for the retail individual investors will be 1.42 times.

There will be a fresh issue of 280 crores and the shares of 7,20,00,000 will be on sale. The price of each share of Equitas Small Finance Bank will be 31-33 per share.

The Equitas Small Finance Bank was able to raise 139.68 crores from the Anchor investors which are also called as the qualified institutional buyers.

This offer will be managed by some of the reputed companies like JM Financial, IIFL Securities and Edelweiss Financial Services. It is proposed by Equitas Small Finance Bank to the NSE to list its shares on the National Stock Exchange Board Of India and Bombay Stock Exchange [BSE].

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