Equitas Small Finance Bank has filed its draft red herring prospectus with SEBI for listing on the bourses. The initial public offering comprises a fresh issue of ₹550 crore and an offer-for-sale of up to eight crore equity shares by the promoter Equitas Holdings (EHL).

The offer includes a reservation of up to ₹100 crore for subscription by eligible EHL shareholders and reservation of ₹5 crore for subscription by eligible employees. “Equitas Small Finance Bank proposes to utilise the net proceeds from the offer towards augmenting the bank’s Tier 1 capital base to meet its future capital requirements,” it said in a statement on Monday. Our Bureau

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