Equitas Small Finance Bank postpones IPO

The company said it will defer the launch of its initial public offering (IPO) due to weak market conditions led by a coronavirus.

Mar 19, 2020 03:03 IST India Infoline News Service

Initial Public Offer, IPO
Equitas Small Finance Bank said it will defer the launch of its initial public offering (IPO) due to weak market conditions led by a coronavirus.

Equitas SFB proposes to utilize the Net Proceeds from the Offer towards augmenting Bank’s Tier I capital base to meet the Bank’s future capital requirements.

JM Financial Limited, Edelweiss Financial Services Limited and IIFL Securities Limited are the Book Running Lead Managers (BRLMs) to the issue.

Other IPOs like, Burger King and Rossari Biotech were also postponed their IPOs scheduled to open on March 18.

Antony Waste Handling Cell chose to withdraw its IPO due to weak market conditions.

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