Equitas Small Finance Bank IPO subscribed 1.97 times

IPO of Equitas Small Finance Bank was subscribed 1.97 times, the final day of the public offering.

The IPO received bids for 22.57 crore equity shares against an offer size of 11.58 crore shares.

The portion of the share sale reserved for qualified institutional investors was subscribed 3.87 times, and that for non-institutional investors and retail investors was subscribed 23% and 2.12 times, respectively.

The public issue consists of a fresh issue of Rs. 280 crore and an offer for sale of 7.2 crore equity shares by Equitas Holdings to comply with shareholding norms set by the Reserve Bank of India. The shares were sold at a price band of Rs. 32-33 per share.