Equitas Small Bank to raise Rs 250 crore through private placement

Equitas Small Bank to raise Rs 250 crore through private placement

Equitas Small Finance Bank will raise Rs 250 crore through private placement from India Infoline Finance Limited (IIFL) Special Opportunities Fund, High Conviction Fund Series I and Focus Equity Strategy Fund - Trivantage Capital. The investors will take 4.51 per cent stake in post-issue.

The board of directors of of Equitas Small Finace Bank (ESFBL/ Bank) had approved to issue of 4,74,58,239 equity shares of Rs 10 each at a price of Rs 52.68 per equity share (including a premium of Rs 42.68 per equity share) aggregating to Rs 250 crore.

The money will be raised through private placement for a stake of 4.51 per cent in the post-issue share capital of the Bank.