Industry

Equitas SFB files draft papers for IPO

Equitas Small Finance Bank has filed draft red herring prospectus with markets regulator SEBI for its initial public offering (IPO).

The IPO comprises fresh issue up to ₹550 crore and an offer-for-sale of up to 8 crore equity shares by Equitas Holdings Limited, the promoter entity of Equitus SFB.

The Chennai-based lender plans to utilise the proceeds towards augmenting bank’s Tier I capital base to meet its future capital requirements.

JM Financial, Edelweiss Financial Services and IIFL Securities are the lead managers to the issue.

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Printable version | Mar 29, 2020 6:43:44 PM | https://www.thehindu.com/business/Industry/equitas-sfb-files-draft-papers-for-ipo/article30323414.ece

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