Equitas Small Finance Bank IPO Subscribed 67% On Second Day Of Bidding

The initial public offer of Equitas Small Finance Bank was subscribed 67% on the second day of bidding on Wednesday.

The IPO received bids for 7.8 crore shares against 11.58 crore shares on offer, according to data available with the NSE.

The portion reserved for qualified institutional buyers was subscribed 5%, non institutional investors 5% and retail individual investors 1.42 times.

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

Price range for Equitas Small Finance Bank IPO is 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 the managers to the offer. Shares of the company are proposed to be listed on BSE and National Stock Exchange of India.