Microfinance institution Equitas Holdings on Friday filed draft papers with the capital markets regulator Securities and Exchange Board of India (SEBI) to raise an estimated Rs.1,200 crore through initial public offering (IPO). This will be the second microfinance company to tap the primary markets after SKS Microfinance’s maiden public offering in 2010 that raised Rs.1,654 crore.
Equitas, last month, received in-principle approval from the Reserve Bank of India to set up small finance banks to provide basic banking services to small farmers and micro industries.
The IPO comprises fresh issue of shares worth Rs.600 crore and an equal amount by selling shares to existing shareholders, according to sources.
