The Rs 518-crore Equitas Small Finance Bank IPO (initial public offer), which was open for subscription from Oct 20-22, is scheduled to finalise its basis of allotment today
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The Rs 518-crore Equitas Small Finance Bank IPO (initial public offer), which was open for subscription from Oct 20-22, is scheduled to finalise its basis of allotment today. The issue was sold in the range of Rs 32-33 and was subscribed nearly 2 times during the three-day bidding process. IPO received bids for 22.57 crore shares against 11.58 crore shares on offer. Following AU Small Finance Bank and Ujjivan Small Finance Bank, Equitas SFB was the third public issue in small finance bank space. “Equitas Small Finance Bank received a tepid response from the investors owing to current market situations. Also, there is not much on the table for investors as better alternatives are available in the market,” Abhay Doshi, Gujarat based independent dealer in unlisted shares, told Financial Express Online.
Equitas Small Finance Bank shares were trading with Rs 2 discount from the issue price at around Rs 30 in the grey market today. Qualified Institutional Buyers (QIB) have so far subscribed their portion 3.91 times, while Retail Investors have subscribed their lot 2.08 times. However, non-institutional investors (NII) placed bids for only 22 per cent of the portion reserved for them. The credit of shares to Demat account will be done on Thursday and stock may debut on the exchanges next week.
Check share allotment status via registrar’s website
Those who had placed bids for the Equitas Small Finance Bank issue can check the subscription status on the registrar’s website. Registrar is a SEBI-registered entity responsible for the IPO allotment and refund processing. KFintech Private Limited is the registrar to the issue. The website has three links from where investors can view their allotment status. Investors can check the allotment status on KFin Technologies website under ‘IPO Status’ section (https://ris.kfintech.com/ipostatus/) when it gets declared. After that select the IPO and enter either your application number or DPID/Client ID or PAN. In case of the application number box, select application type and enter the application number. If the DPID/Client ID box is chosen, select the depository from the drop-down menu, enter DPIP, Client ID. If the PAN option box was chosen, enter the permanent account number. In the last step, enter the given captcha and click submit.
How to check status from BSE website
Alternatively, investors can also check the status of the allotment on the BSE website (https://www.bseindia.com/investors/appli_check.aspx). Investors will have to select ‘equity’, and then the issue name as ‘Equitas Small Finance Bank’ from the drop-down list, when it gets declared. After that enter application number and PAN (permanent account number). In the last step, click on the search tab to view the status details.