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Equitas Small Finance Bank may launch IPO on October 20

The initial public offer (IPO) of Equitas Small Finance Bank (ESFB) is expected to be launched on October 20, 2020. The issue was earlier scheduled for subscription by the end of March 2020. However, the offer was put on hold due to the spread of COVID-19 disease.

Equitas Small Finance Bank (ESFB) had earlier filed the draft red herring prospectus (DRHP) on December 16, 2019.

The fresh issue of equity shares for its proposed IPO was revised recently downward to Rs 280 crore from Rs 550 crore planned earlier. The IPO consists of a fresh issue of 8 crore equity shares and an offer for sale of 7.2 crore equity shares.

“The size of the fresh issue has been reduced from up to Rs 5,500 million (Rs 550 crore) to up to Rs 2,800 million (Rs