Equitas Small Finance Financial institution to lift Rs 1000 crore in QIP

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Kolkata: The Equitas Small Finance Bank shall be seeking to increase as much as Rs 1000 crore in certified establishments placement (QIP), the corporate introduced Monday.

The board of the financial institution authorised the plan on Monday.

This can assist the lender meet the 25 per cent minimal public shareholding criterion stipulated by the market regulator Securities & Alternate Board of India.

Public holding within the firm was at 18.25 per cent as of June 2021 whereas the stability was with the promoter — Equitas Holdings Ltd.

Equitas Small Finance Financial institution and Equitas Holding are within the technique of a merger following Reserve Financial institution of India’s in-principle nod to it.

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