Equitas Small Finance Bank Limited (ESFB) which had tapped the capital markets with its fresh issue of Rs 280 crs and an offer for sale of 7.2 cr shares, was subscribed 1.95 times. The price band of the offer was Rs 32-33. The issue had opened on Tuesday the 20th of October and closed on Thursday the 22nd of October.

The issue saw QIB portion subscribed 3.91 times, HNI portion remained undersubscribed at 0.22 times, Retail portion was subscribed 2.08 times. The shareholder reservation quota was undersubscribed at 0.42 times. Employee quota was subscribed 1.84 times.

The issue just about scraped through and the response was overall poor and lacklustre. The retail category which saw about 1.69 lac applications was on the hope and expectation that there would be some listing gains on day one.

Earlier the company had completed allocation to anchor investors. The company allotted 4,23,27,271 equity shares to 14 anchor investors comprising of 35 entities. The highest allocation was an identical 37,87,650 equity shares or 8.95% of the allocation to 8 entities. These included names such as ICICI Prudential, ICICI Prudential Life Insurance, SBI Life Insurance, Franklin India and Mirae Asset Management.

Full details of the subscription are given below: –