Small finance bank contender Equitas Holdings got a good response to its initial public offering with the issue being subscribed over 17 times. According to cumulative data of BSE and NSE available, the issue got bids for over 239 crore shares against the issue size of 13.91 crore shares. Bids for a total of 8.37 crore shares were received at the cut-off price.
Chennai-based Equitas Holdings had planned to raise upto Rs 2,176 crore through an initial public offering (IPO). The issue included a fresh issue aggregating upto Rs 720 crore and an offer for sale of up to 1.64 crore shares. The price band for the issue had been fixed at Rs 109-110 per share.
Equitas Holdings had allotted 5.93 crore shares at Rs 110 (upper end of the price band) amounting to Rs. 652.18 crore to anchor investors including Franklin Templeton, Birla Sun Life among others.
Published 07 April 2016, 17:54 IST