The IPO received oversubscription of 1.95 times.
The maiden recorded bids of 22,57,94,250 equity shares against the total issue size of 11,58,50,001 equity shares, as per the cumulative data.
The portion reserved for QIBs got subscribed by whopping 3.91 times, while RII subscribed the IPO by 2.08 times. However, NII subscribed the issue by just 22% of the total portion reserved for the category.
The price band for the IPO was fixed between Rs32-Rs33 per equity share.
The IPO comprised of a fresh issue of Rs280cr and offers for sale (OFS) of up to 7.2cr equity shares by parent Equitas Holding.
Proceeds from the OFS will be not utilised by Equitas Small Finance Bank, but instead, the parent will be entitled. Meanwhile, the proceeds arising from the fresh issue is expected to be utilized by Equitas Small Finance Bank for augmenting its Bank’s Tier I capital base and to meet its future capital requirements.