Equitas Small Finance Bank gains on raising Rs 550 cr via QIP issue

Date:

Share post:

This Content Is Only For Subscribers

Please subscribe to unlock this content.

Equitas Small Finance Bank rose 2.25% to Rs 54.65 after the company said it has raised Rs 550 crore in the qualified institutional placement of equities.

Equitas Small Finance Bank sold 10,26,31,087 equity shares to qualified institutional buyers at the issue price of Rs 53.59 each, aggregating to Rs 5,49,99,99,952. The qualified institutions placement (QIP) Issue opened on 14 February 2022 and closed on 18 February 2022.

The government of Singapore invested about Rs 155 crore while the Monetary Authority of Singapore put in Rs 36 crore. The balance Rs 359 crore was invested by Nippon Life India Trustee, SBI Mutual Fund, ICICI Prudential, HDFC Mutual Fund and HDFC Trustee Company.

The QIP will reduce the promoters holding to 75% and raise public shareholding to a minimum of 25%, as stipulated by the market regulator Securities & Exchange Board of India.

As on 31 December 2021, the promoter of the bank – Equitas Holdings – held 81.36%.

The small finance bank’s net profit fell 2.34% to Rs 108.11 crore on 2.30% increase in total income to Rs 1,035.01 crore in Q3 December 2021 over Q3 December 2020.

Equitas Small Finance Bank is one of the largest small finance banks in India. It offers a bouquet of products and services tailored to meet the needs of individuals, as well as affluent and mass affluent, Small & Medium Enterprises (SMEs) and corporates.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

spot_img

Related articles

Lisa of Blackpink Announces New Comeback Song ‘Rockstar’ with Release Date

Lisa, the Thai rapper, singer, and dancer from the renowned South Korean girl group Blackpink, is making a highly anticipated return to the music scene. The multi-talented artist recently took to Instagram to announce her new comeback song, "Rockstar," revealing the release dates for different time zones. The song is set to drop on Thursday, June 27, at 8 PM ET / 5 PM PT, and on Friday, June 28, at 7 AM TH / 9 AM KR.

Maharaja Box Office Collection Day 5: Vijay Sethupathi and Anurag Kashyap Film Crosses ₹30 Crore in India

Maharaja, the Vijay Sethupathi and Anurag Kashyap-starrer, continues to dominate the box office in its first week. Directed by Nithilan Saminathan, the film has been a strong performer in India. According to the latest update from Sacnilk.com, Maharaja has earned ₹3.50 crore on its fifth day of release, bringing its total collection to ₹31.65 crore.

Report Reveals Actor Darshan’s Former Manager Missing for 8 Years

Kannada actor Darshan Thoogudeepa, recently taken into police custody in connection with the murder of 33-year-old fan Renuka Swamy, is now facing renewed scrutiny over the mysterious disappearance of his former manager, Mallikarjun B Sankanagoudar. As the investigation into Swamy's murder continues, with 17 arrests made so far, the unresolved case of Mallikarjun's disappearance has come to the fore.

“Kangana Ranaut Gives Chandigarh House to Cousin Varun as gift After Wedding”

Kangana Ranaut, who recently emerged victorious in the Mandi Lok Sabha Election 2024, has once again showcased her generosity by gifting a house to her newly-married cousin, Varun Ranaut, in Chandigarh.