Equitas Small Finance Bank Ltd. has announced public offering of 156848483 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 23.00 per share. The gross proceeds of the issue are expected to be Rs 51,760.00 lakhs.

The company's initial public offer (IPO) will open on 20 October 2020 and is expected to close on 22 October 2020, subject to customary closing conditions. The price band of the issue has been fixed at Rs 32.00-33.00 per share.

The IPO includes a fresh Issue of 156848483 Equity Shares of the Company at an price of Rs 33.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 450 shares with bids in multiples of 450.

Equitas Small Finance Bank Ltd. anticipates using the proceeds of the issue for .

Edelweiss Financial Services Ltd.,JM Financial Ltd.,IIFL Securities Limited as lead manager(s) & KFIN Technologies Pvt. Ltd. is the registrar, to the issue.