The initial public offering (IPO) of small finance bank (SFB) licencee Equitas Holdings, which opened on Tuesday, was subscribed for 0.08 times. The total number of shares on sale were 139 million out of which the investors subscribed to 12.1 million shares.
In its allottment to anchor investors on Monday, the company raised R653 crore through 16 anchor investors at a price of Rs 110 a piece. The anchor investors who bid for the issue include—Franklin Templeton, Birla Sun Life, ICICI Prudential and SBI Mutual Funds.
The qualified institutional buyers (QIB) portion saw minimal subscription as investors bid for only 22,680 shares out of the 39.8 million shares reserved for their category. High net-worth individuals bid for 3.6 lakh shares out of the 29.7 million shares reserved, while retail investors bid for 11.7 million shares out of the 69.3 million shares reserved for their category, bidding nearly 0.16 times. The employees category subscribed for nearly 8,775 shares out of the 2.5 lakh shares reserved for their category on offer.
The IPO which is priced between the range of Rs 109- Rs 110 will be close on Thursday. The company would be raising Rs 720 crore via issue of fresh shares while several of its existing investors are also using the opportunity by making an offer for sale (OFS) of nearly 13.24 crore shares.