DSIJ Mindshare

Equitas Small Finance Bank rallies as it raises Rs 550 crore through QIP
Vishwajeet Bhandigare
/ Categories: Trending, Mindshare

Equitas Small Finance Bank rallies as it raises Rs 550 crore through QIP

The stock has zoomed up by over 6 per cent today

Equitas Small Finance Bank has been trending for its high upside of over 6 per cent. It opened at Rs 54.00 and has made a day’s high of 58.50. It has hit the list of top gainers list in the S&P 500 list. The primary driver of this rally has been the raising of funds amounting to Rs 550 crore through qualified institutional placement (QIP) of equities. 

The bank has sold about 10.26 crore equity shares to qualified institutional buyers at the issue price of Rs 53.59 per share. Notably, the Government of Singapore has 28.04 per cent of the total issue size and the Monetary Authority of Singapore has acquired about 6.51 per cent of the issue. This corporate action will lead to the reduction in promoters’ shareholding to 75 per cent (previously 81.36 per cent) and will increase the public holding to a minimum of 25 per cent as required by the guidelines of SEBI. 

The stock has a 52-week high and low of Rs 76.75 and 45.35, respectively. As of 1:15 pm today, the stock was trading at Rs 56.7, up by about 6 per cent on the BSE.      

Previous Article Vi surges amid news of government hiring an adviser to manage equity conversion of interest dues
Next Article Nifty closes just above 17,200; dragged by Coal India, Hindalco, and UPL
Print
545 Rate this article:
5.0
Please login or register to post comments.
DALAL STREET INVESTMENT JOURNAL - DEMOCRATIZING WEALTH CREATION

Principal Officer: Mr. Shashikant Singh,
Email: principalofficer@dsij.in
Tel: (+91)-20-66663800

Compliance Officer: Mr. Rajesh Padode
Email: complianceofficer@dsij.in
Tel: (+91)-20-66663800

Grievance Officer: Mr. Rajesh Padode
Email: service@dsij.in
Tel: (+91)-20-66663800

Corresponding SEBI regional/local office address- SEBI Bhavan BKC, Plot No.C4-A, 'G' Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra.
Tel: +91-22-26449000 / 40459000 | Fax : +91-22-26449019-22 / 40459019-22 | E-mail : sebi@sebi.gov.in | Toll Free Investor Helpline: 1800 22 7575 | SEBI SCORES | SMARTODR