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Equitas Small Finance Bank IPO opens
Equitas Small Finance Bank IPO: Equitas Small Finance Bank IPO is getting an opportunity to invest in the stock market from today. Money can be invested in this IPO from October 20 to October 22.
Equitas Small Finance Bank IPO: Equitas Small Finance Bank IPO is getting an opportunity to invest in the stock market from today. Money can be invested in this IPO from October 20 to October 22. IPOs such as Happiest Minds, Root Mobile and Mazgaon Dock had bumper listings in the stock market. Investors have fiercely taken advantage of listing gains. In such a situation, the question is whether the IPO of Small Finance Bank will give strong returns?
Price band is 32-33 rupees (Equitas Small Finance Bank)
The company has set a target of raising Rs 280 crore under the IPO. The company has given this information in the regulatory filing. Earlier on 11 October 2020, Equitas Small Finance Bank filed an RHP with the Chennai ROC regarding the IPO. Equitas Small Finance Bank has fixed the price of shares for an IPO of Rs 500 crore. The company has fixed the price band of the IPO at Rs 32-33. 280 crore worth of new shares will be issued under this IPO.
Also Read: What is Dream11? How to earn money with Dream 11?
A chance to invest money by 22 October
Allotment of 7.2 crore equity shares of Equitas Holdings Limited, the holding company of the bank, will be done through Offer for Sale. The company will issue a total of 15.2 million shares in the IPO. In this, 8 crore fresh shares will be issued. 7.2 crore shares will be offered for sale. Shares worth one crore rupees will be reserved for bank employees and shareholders of 51 crore rupees Equitas Holdings.
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Lead manager for IPO
The company has appointed JM Financial, Edelweiss Financial Services and IIFL Securities as lead managers for the IPO of Equitas Small Finance Bank. Equitas Small Finance Bank is the largest small finance bank in the country in terms of number of bank branches. It is the second largest small finance bank in the country in terms of assets and bank deposits.
12th IPO of 2020 (Equitas Small Finance Bank)
The IPO of Equitas Small Finance Bank will be the 12th IPO of the year 2020. This IPO will close on 22 October. It will be listed in the market on November 2.
450 shares in 1 lot?
Talking about lot size, it can have 450 shares. The issue of Equitas Small Finance Bank may be listed on November 2. Equitas Small Finance Bank has a focus on retail deposits, which it is benefiting from.
The company will issue 15.2 million shares
Explain that the company will issue a total of 15.2 million shares in the IPO. In this, 8 crore fresh shares will be issued. 7.2 crore shares will be offered for sale.
This IPO was to come in March first
Let me tell you that the IPO of Equitas Small Finance Bank was going to come in March, but it was averted due to coronavirus infection and lockdown. With this, the size of the issue was also halved. The company was first to issue Rs 1000 crore issue.
Who will bid?
Qualify Institutional Buyers will bid for 50 per cent of the offer. At the same time, for retail investors 35 percent and the remaining 15 percent is reserved for non-institutional investors.
Happiest Minds had rewarded investors
Before this, the IPO of Happiest Minds has made investors rich. The company’s stock was listed on BSE at a price of Rs 351. The issue price of Happiest Minds shares was Rs 166. In this context, the stock was listed at a premium of 111 per cent.
Will money be safe in small finance banks?
Equitas Small Finance Bank IPO: Due to the ups and downs in the banking sector in the last few years, the common people are becoming more concerned about their money. In such a situation, when a small finance bank offers more interest than public sector banks (PSUs), it is difficult to believe. Some small finance banks are currently offering 7 to 8 percent interest, while in public sector banks this rate is not more than 5.5 percent.
In such a situation, the question arises in the mind of every person that should an account be opened in these small finance banks? Will their money be safe in such banks?
What amount will be safe?
In small finance banks, up to five lakh rupees like government banks are completely safe. Up to Rs 5 lakh in Small Finance Bank is insured under the Deposit Insurance Credit Guarantee Corporation (DIGGC) Deposit Insurance Program. It also insures savings, current account, recurring deposits and fixed deposit deposits. In this, not only the principal amount, but also the interest is insured. Small finance banks are under the direct supervision of the Reserve Bank of India (RBI) and, like PSUs and other private banks, are classified as scheduled banks.
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