Equitas SFB stock zooms ~5% as lender raises Rs550cr from marquee investors via QIP

21 Feb 2022 , 02:08 PM

On Monday, Equitas Small Finance Bank Ltd. gained near 5% in the volatile markets following its announcement to raise Rs550 crore from marquee investors via QIP.

In the total funds raised, the government of Singapore invested about Rs155 crore while the Monetary Authority of Singapore pumped in Rs36 crore.

Mutual Funds Nippon India Ltd, SBI Mutual Fund, ICICI Prudential, HDFC Mutual Fund, and HDFC Trustee Company invested the remaining Rs359 crore.

The bank will raise up to Rs1,000 crore through a Qualified Institutional Placement (QIP) to comprehend the regulatory norms related to minimum public shareholding.

At around 1.54 PM, Equitas SFB was trading at Rs55.90, up by Rs2.50 or 4.68% against its previous closing price of Rs53.40 on NSE. It touched day’s high and low of Rs58.70 and Rs54.20 respectively.