Equitas Small Finance Bank Ltd. makes a weak debut on the bourses with scrip got listed at Rs 31.00 on the Bombay Stock Exchange, a 6.06 per cent discount to its issue price of Rs 33.00.
On the National Stock Exchange, the stock was listed at Rs 31.10. The company, which raised 15.68 Cr from initial public offering, was subscribed 1.76 times, receiving bids for 2,760.53 lakhs shares against the total issue size of 1,568.48 lakhs shares.
The company, listed under B Group Securities post its IPO, opened for subscription from Oct 20 to Oct 22. Following a weak opening, the scrip touched an intraday high of Rs 33.05 and a low of Rs 30.10, before closing the session up by 0.75 per cent to its listing price at Rs 32.75 on the BSE.
The company anticipates using the proceeds of the issue for . Edelweiss Financial Services Ltd.,JM Financial Ltd.,IIFL Securities Limited as lead managers & KFIN Technologies Pvt. Ltd. is the registrar, to the issue. Meanwhile, the broader benchmark BSE Sensex closed trade at 39,757.58, up 143.51 points, or 0.36 per cent.