Equitas SFB Revises Offer Size For Proposed Initial Public Offering
Equitas Small Finance Bank had received the Sebi's approval for the IPO on March 3
Topics
Equitas Holdings | initial public offerings | Sebi
T E Narasimhan |
The size of the fresh issue has been reduced from Rs 550 crore to Rs 280 crore
Equitas Holdings said on Friday that its subsidiary Equitas Small Finance Bank had filed, with the Securities and Exchange Board of India (Sebi), an addendum to its draft red herring prospectus (DRHP) revising its offer size for the proposed Initial Public Offering (IPO).
The size of the fresh issue has been reduced from Rs 550 crore to Rs 280 crore. The number of equity shares offered through the Offer for Sale (OFS) by the company, has been reduced from 80 million to 72 million.
The Employee Reservation Portion for eligible employees has been reduced from Rs 5 crore to Rs 1 crore and the Shareholder Reservation Portion for eligible EHL shareholders has been reduced from Rs 100 crore to Rs 51 crore.
ALSO READ: Equitas Small Finance Bank net profit flat at Rs 60 crore in June quarter
Equitas Small Finance Bank had received the Sebi's approval for the IPO on March 3.
The DRHP for IPO was filed by the company in December last year. At the time, the bank said that the issue comprise a fresh issue of Rs 550 crore and an OFS of 80 million shares by parent firm Equitas Holdings.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
First Published: Fri, September 25 2020. 18:50 IST
JPMorgan Deploys AI Chatbot To Revolutionize Research And Productivity
JPMorgan has deployed an AI-based research analyst chatbot to enhance productivity among its workforce, with approximate... Read more
Private Equity And Banks: The Complex Web Of Leverage
Private equity has emerged as a significant force in the global financial landscape, driving substantial growth and inve... Read more
Financial Watchdog Highlights Unresolved Vulnerabilities In Shadow Banking Sector
The world’s leading financial stability watchdog has issued a warning about the unresolved vulnerabilities within the ... Read more
JPMorgan And Small Caps Lead Market Rally: A Sign Of Economic Optimism
In a week marked by strong financial performance, JPMorgan Chase & Co. reported a 25% rise in profits, and US small-... Read more
Big Banks Vs. Regional Banks: The Battle For Market Share
The financial industry is a competitive landscape where big banks and regional banks vie for market share. Each type of ... Read more
The Evolution Of Philanthropic Advisory Services In Private Banks
The landscape of philanthropic advisory services provided by private banks has undergone a significant transformation. T... Read more