Equitas Small Finance Bank’s maiden shares made a debut in the Indian bourses on November 2. The total IPO of size was Rs 518 crores remained open for subscription between October 20-22. Equitas IPO was subscribed 1.95 times in the market.
Finalisation of Basis of Allotment happened on October 27. If you don’t know the status of your bid for Equitas IPO, here is how to do it easily.
You can visit the IPO registrar KFin’s website and check the status of your bid in the following steps. KFin has provided three links to check the allotment status; you can select any of these links and then follow the process below.
- In KFin website, select the IPO name – Equitas Small Finance Bank
- You can check the status using either – application number, DPID/Client ID, or PAN number. So, you need to check the appropriate box
- If you select application number, enter the ASBA/NON ASBA number to know allotment status
- If you have selected DPID/Client ID, then choose NADL/CDSL and enter DPID/Client ID. Or, if you have chosen PAN number to check status, enter the PAN number in the given space
- Enter captcha as shown on the site and then click on ‘submit’ to check the status
Alternatively, investors can also check IPO status from the BSE website. You will have to follow the steps listed below.
- To search IPO status on the BSE website, check on the box stating Equity
- From the list select ‘Equitas Small Finance Bank’
- You can check the allotment status using the application number or PAN number, and then click on the ‘search’ option
- Make sure you enter correct information to check or else you will get a blank result
Chennai based small finance bank, Equitas SBF’s maiden offer hit the market on October 20. The shares were launched in the price band of Rs 33. On November 2, the shares were listed in BSE exchange at a price of Rs 31, which is at 6 percent discount to its issue price.
Equitas Small Finance Bank is the largest SBF in terms of the number of branches/ATMs across India and second-largest by the volume of total asset under management. The promoter Equitas Holding is looking at reducing its holding shares in the bank to abide by RBI directive, which directs promoters of an SBF to reduce paid-up equity shareholding to 40 percent once the bank completes five years in operation.
Equitas SBF had to meet the RBI requirement for listing, that urges small finance banks to enlist within three years of reaching a net worth of Rs 500 crores. Before Equitas, Ujjivan Small Finance Bank and AU Small Finance Bank also enlisted in the bourses.
The lockdown period saw a lot of activity in the IPO sector. Some of the IPO offers launched during this period were massively oversubscribed. Compared to that, Equitas IPO received a lukewarm response from investors. Experts think that ongoing market volatility might have a role to play. COVID-19 has hit the banking the sector hard. The profit margin of almost all the major banks has fallen due to the moratorium and rising NPA. However, experts believe there is time for the IPO to perform. And it may receive the boost from strong financials and diversified product portfolio of the bank.