Equitas Small Finance IPO - Grey Market, GMP & Reviews

IPO Details

Issue Date 20 Oct - 22 Oct
Issue Size ₹550.00 Cr
Issue Price ₹32-33
Market Lot 450 Shares
Shares on Offer 80,000,000
Registrar Link Intime
GMP ₹2-3
Kostak N/A
Subject to Sauda ₹900-1000
Listing Date 02 Nov 2020
Listing Price ₹32.80
Listing Gain% -0.60

About Equitas Small Finance Bank Ltd

Equitas Small Finance Bank is a New Age Bank that gives children, youth, families and business people across India a new way to bank. In our time as a micro finance company, we silently went about enabling livelihoods and elevating lives. Today, as a small finance bank, we are also going about changing the very way banking is imagined, delivered and experienced - with TRUST being the key driver. Come along on this fun ride.

Arun Ramanathan is the Part-time Chairman and Non-Executive Independent Director of our Bank. He holds a bachelor’s degree in science from University of Madras, a master’s degree in nuclear physics from Andhra University, a master’s degree in business administration from University of Madras and a master’s of philosophy degree in economics and politics of development from University of Cambridge. Further, he is an associate member of the Institute of Cost and Works Accountants of India. Prior to his becoming a Director of our Bank, he was a member of the Indian Administrative Service (Tamil Nadu Cadre, 1973). In his stint of more than 34 years of service in the Indian Administrative Service, he held several postings in the Government of India at the level of Secretary in various ministries, including Secretary in the department of Chemicals and Petrochemicals (Ministry of Chemicals and Fertilizers), Secretary in the department of Financial Services (Ministry of Finance) and at superannuation in 2009, the Union Finance Secretary.

He has served as a director on the boards of several companies including State Bank of India, IDBI Bank Limited, ICICI Bank Limited, India Infrastructure Finance Company Limited, IDFC Limited, Oil and Natural Gas Corporation Limited, Shipping Corporation of India Limited, Tamil Nadu Petroproducts Limited, National Textile Corporation Limited, ONGC Videsh Limited, Titan Industries Limited, United Stock Exchange of India Limited, Indian Clearing Corporation Limited, Jenson and Nicholson (India) Limited, JCT Electronics Limited, Religare Enterprises Limited and L&T Infra Debt Fund Limited. He was a member of the Life Insurance Corporation of India. He has served as chairman of the audit committees of Oil and Natural Gas Corporation Limited and Shipping Corporation of India Limited. He has also served on the Indian advisory council of Daimler (India) Commercial Vehicles Private Limited between 2010 and 2016.

He is a serving member on the investment committee of the Tamil Nadu Infrastructure Fund Management Corporation Limited and has been included in the panel of outside experts of Oil and Natural Gas Corporation Limited in the finance/commercial category.

Incorporated in 1993, Madras based Equitas Small Finance Bank Ltd (ESFBL) in Fiscal 2019 was the largest small finance bank in India considering banking outlets and the 2nd largest small finance bank considering assets under management and total deposits. Unlike other microfinance companies, it has a diversified loan portfolio and less dependence on microfinance business. With the main focus on financially unserved and underserved customers, the bank offers a wide range of banking products and services.

The company provides microfinance loans promoting financial inclusion, housing finance, vehicle finance, and MSE finance. Equitas Small Fin Bank offers financial products according to customers' income profile, type of security available and nature of business.

Apart from this, the bank also provides current accounts, salary accounts, savings accounts, other deposit accounts, ATM-cum-debit cards, mutual fund products, third party insurance, and issuance of FASTags.

ESFBL follows credit assessment procedures through a risk management framework which is analyzed by its Risk Management Committee. As on 30th Sep 2019, it has the largest distribution channel among Small Finance Banks (SFBs) including 853 Banking Outlets and 322 ATMs in India across 15 states and union territories.

Company Financials

Particulars 31-Mar-19 31-Mar-18 31-Mar-17
Total Assets (In ₹ Millions) 157,626.91 133,011.50 92,501.28
Total Revenue (In ₹ Millions) 23,948.32 17,729.03 12,126.98
Profit After Tax (PAT) (In ₹ Millions) 2,105.66 318.31 1,041.34

Equitas Small Finance Bank Ltd IPO Reviews

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Subscription Details

Date & Time QIB NII RII Total
Day 1 - 20 Oct 0.00 0.01 0.38 0.17
Day 2 - 21 Oct 0.00 0.02 0.64 0.29
Day 3 - 22 Oct 3.91 0.22 2.08 1.95

Allotment Status

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IPO Allotment Status

Equitas Small Finance Bank Ltd IPO FAQs

  1. When will Equitas Small Finance Bank Ltd IPO open?

    Equitas Small Finance Bank Ltd IPO will open on 20 Oct and close on 22 Oct.

  2. What is the listing date of Equitas Small Finance Bank Ltd IPO?

    Equitas Small Finance Bank Ltd IPO will list on 02 Nov 2020.

  3. What is the offer price of Equitas Small Finance Bank Ltd IPO?

    The offer price of Equitas Small Finance Bank Ltd IPO is ₹32-33.

  4. What is the lot size of Equitas Small Finance Bank Ltd IPO?

    The lot size of Equitas Small Finance Bank Ltd IPO is 450.

  5. What is the Grey Market Premium (GMP) price of Equitas Small Finance Bank Ltd IPO?

    The Grey Market Premium (GMP) price of Equitas Small Finance Bank Ltd IPO is ₹2-3.

  6. What is the Kostak price of Equitas Small Finance Bank Ltd IPO?

    The Kostak price of Equitas Small Finance Bank Ltd IPO is Not Available at the moment.

  7. What is the Subject to Sauda price for Equitas Small Finance Bank Ltd IPO?

    The Subject to Sauda price for Equitas Small Finance Bank Ltd IPO is ₹900-1000.

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