JM Finance, Edelweiss, IIFL Securities
Equitas Holdings Limited has planned to go public through list its SFB shares. The firm aims to raise over Rs 1,500-2,000 crore through the issue. Equitas appoints JM Financial, Edelweiss, IIFL banks to manage the IPO.
According to the reports, the issue will file draft papers with the market regulator Sebi in a few weeks. On 13th September, it has offloaded 12 percent of stake on BSE. The listing could produce a pricing discount for the holding firm as well as result in possible dilution for existing shareholders of EHL.
In the last month this fiscal, the firm had started the initial process for its IPO. Then, it announced that Equitas SFBs IPO will hit the market in fiscal 2020.
All know that RBI has banned the microfinance lender Equitas small finance bank from locating the new branches and may impose additional regulatory restrictions if the bank fails to make enough progress towards listing itself on the bourses.
Under the scheme of methods recommended by the boards of EHL and ESFB. But, the market regulator Sebi had returned the scheme documentation. But, it suggests the officials re-submit the scheme draft papers after securing the agreements with terms mentioned in the Sebi circular.
As of the source, on September 5, 2016, ESFB has received the final banking license from RBI. It started its banking operations from September 2016. Equitas Small Finance Bank is engaged in retail banking business along with microfinance, commercial vehicle finance, and home finance.