Equitas Small Finance Bank IPO | Initial Public Offering Details

New Delhi : Financial specialists are profoundly excited almost the Dependence Jio IPO and are anticipating it with awesome expectation. After two decades, Dependence Businesses is set to dispatch an IPO for one of its major commerce units. Presently, Mukesh Ambani has given a critical upgrade with respect to this Jio IPO . The draft outline for Jio Stages is anticipated to be recorded following month. This may possibly be the biggest IPO in the country's history. Dependence has designated a consortium of 19 banks to oversee this process. Mukesh Ambani, Chairman of Dependence Businesses, has dropped a major indicate with respect to the exceedingly expected IPO of Jio Stages. Depicting it as a "definitive breakthrough," Ambani signaled that the company is quickly progressing in its arrangements for what is balanced to be India's largest-ever IPO. Talking amid the company's profit discharge, Ambani expressed, "I am satisfied to share that we are making...

Equitas Small Finance Bank IPO | Initial Public Offering Details

The IPO of Equitas Small Finance Bank will come on October 20, 2020. The company has set a target of raising Rs 280 crore under the IPO. This information is given by the company in the regulatory filing. Earlier on October 11, 2020, Equitas Small Finance Bank filed RHP with the Chennai ROC regarding the IPO.

This IPO of Equitas Small Finance Bank will be the 12th IPO of 2020. The company has fixed its price band, which will be 32-33 rupees. This IPO will close on October 22, 2020. Let me tell you, Equitas Small Finance Bank is a subsidiary of Equitas Holdings.

Equitas Small Finance Bank IPO Details

IPO Open date	October 22, 2020
IPO Close Date	October 20, 2020
Issue Type	Book Built Issue IPO
Issue Size	Equity Shares of 10 Rupee (aggregating up to 517.60 Cr Rupee)
Fresh Issue	Equity Shares of 10 (aggregating up to 280.00 Cr Rupee)
Offer for Sale	72,000,000 Equity Shares of 10 Rupee (aggregating up to 237.60 Cr Rupee)
Face Value	10 rupee per equity share
IPO Price	32 to 33 rupee per equity share
Retail Discount	0 rupee
Employee Discount	0 rupee
Market Lot size	450 Shares
A Minimum Order Quantity	450 Shares
Listing on	BSE, NSE

The company was formed in 1993, with Chennai-based Equitas Small Finance Bank Limited (ESFBL) as the second-largest small finance bank in view of banking outlets and assets under management and total deposits. It has a diversified debt portfolio and less reliance on the microfinance business as compared to other microfinance companies. It is the largest distribution channel among Small Finance Banks (SFBs), including 853 banking outlets and 322 ATMs in India across 15 states and union territories.

Equitas Small Finance Bank offers microfinance loans promoting financial inclusion, home loans, vehicle loans and MSE loans. Equitas Small Fin Bank provides financial products to customers according to their income profile, type of security available and nature of business. Apart from this, the bank also offers the facility of issuing savings accounts, current accounts, salary accounts other deposit accounts, ATM-cum-debit cards, mutual fund products, third party insurance, and FASTags.

Company Financials

Description	For the year ended (in crore)
	30-Jun-20	31-Mar-20	31-Mar-19	31-Mar-18
Total Assets	20892.14	19314.55	15762.70	13301.16
Total Revenue	750.97	2927.80	2394.90	1772.90
Profit After-Tax	57.68	243.64	210.57	31.9

The company will issue a total of 15.2 million shares in the IPO. It will issue 8 crore fresh shares. In addition, 7.2 crore shares will be offered for sale. In this IPO, shares worth Rs 1 crore will be reserved for the employees of the bank and shares of Rs 51 crore for the shareholders of Equitas Holdings.

The company has appointed JM Financial, Edelweiss Financial Services and IIFL Securities as lead managers for the IPO of Equitas Small Finance Bank. According to a report, Equitas Small Finance Bank is the largest small finance bank in the country in terms of the bank branch numbers.

Equitas Small Finance Bank IPO Timetable

Bid/Offer Opens On	October 20, 2020
Bid/Offer Closes On	October 22, 2020
Finalization of Basis of Allotment	October 27, 2020
Initiation of Refunds	October 28, 2020
A Credit of Shares to Demat Acct	October 29, 2020
IPO Shares Listing Date	November 2, 2020

Know All About Sovereign Gold Bond Scheme (SGB)

The first time Sovereign Gold Bond Scheme was first introduced by the Government of India in the Union Budget of 2015-16. It was introduced by the Government of India to reduce the demand for the physical gold form and a part of this physical gold is bought every year in the form of gold bands for the purpose of invest in SGB. Latest on Sovereign Gold Bond Scheme A tenth tranche of the buy SGB Series – The Sovereign Gold Bond Scheme 2021-22 - Series X in which the Reserve Bank of India (RBI) sell gold bonds linked to the market price of gold on behalf of the government made available for investment will be open for buy SGB for the period from February 28th to March 4th. What is Sovereign Gold Bond? The Sovereign Gold Bond is an initiative taken by the Government of India to reduce the demand for physical gold as per the Reserve Bank of India as the increasing import of gold is affecting the growth and investment of India. Large quantities ...

Know that senior citizens get many special concessions in income tax

People above 60 years of age, i.e., senior citizens, not only get the benefit of income tax exemption but also receive special relief from income tax on investments and returns. Elderly citizens do not have to pay any income tax on income up to Rs 3 lakh. Exemption in tax limit under 80C limit: The tax exemption limit for old citizens in a financial year is Rs 3 lakh, while a common man gets tax exemption only up to Rs 2.5 lakh. For very senior citizens who are above 80 years of age, it is Rs 5 lakh. That is, if the annual income of a senior citizen is up to Rs 3 lakh and TDS has not been deducted, then he need not file an income tax return. Similarly, very senior citizens need not file income tax returns if they do not have an annual income up to Rs 5 lakh. If the age is more than 75 years then no return is required: Those above 75 years of age are not required to file tax returns. There is no any need to file ITR for people above 75 years of age who are ...

What is the Orange Economy? Top Sectors to Invest in 2026.

In a time when mechanization and machine learning are changing conventional businesses, a flourishing portion of the worldwide economy is illustrating that human resourcefulness is still a important asset. The "Orange Economy"—also known as the imaginative economy or social industries—has played a major part in protecting culture, making occupations, and developing the economy. But what is this energetic thought, and why is it picking up conspicuousness in discussions almost worldwide development? What is the Orange Economy? The express "Orange Economy" was at first utilized by previous Colombian President Iván Duque Márquez and previous Culture Serve Felipe Buitrago. Concurring to the Inter-American Improvement Bank, it is "the organize of interconnected forms through which thoughts are turned into social merchandise and administrations whose esteem is decided by mental property." Orange was particularly picked since it has been related with devel...

Stock Market MF News

Search This Blog

Featured Post

Reliance Jio IPO: India's Biggest IPO Coming Soon? Valuation, ARPU, and Latest News