Equitas Small Finance Bank is going to launch its maiden public offer on 29 September and has priced the offer in the range of INR32 – 33 per share. The bank will seek to continue the momentum generated by successful listings of Mazagon Dock Shipbuilders and Route Mobile. Since the volatility in broader markets is continuing, investors have another reason to look forward to grey market movements to get a tentative idea about listing price. Check out the latest Equitas Bank IPO GMP (Grey Market Premium), Kostak rates and Subject to Sauda rates here.
Equitas Small Finance Bank IPO details
| Subscription Dates | 20 -22 October 2020 |
| Price Band | INR32 – 33 per share |
| Fresh issue | INR280 crore |
| Offer For Sale | 72,000,000 shares (INR230.4 – 237.6 crore) |
| Total IPO size | INR510.4 – 517.6 crore |
| Minimum bid (lot size) | 450 shares |
| Face Value | INR10 per share |
| Retail Allocation | 35% |
| Listing On | NSE, BSE |
Within the relatively new category of Small Finance Bank, Equitas SFB has secured its place, thanks to its parent Equitas Holdings. The bank is the largest SFB in India in terms of number of banking outlets, and second largest SFB in India in terms of Assets under Management (AUM) and total deposits in FY2019. As of 30 June 2020, it had 856 banking outlets and 322 ATMs spread across 17 states and union territories in India.
Equitas Bank IPO GMP (Grey Market Premium) rates
| Date | GMP (in INR) | Kostak (in INR) | Subject to Sauda (in INR) |
| 29 Oct 2020 | -1 | – | – |
| 28 Oct 2020 | – 2 | – | – |
| 27 Oct 2020 | -1 | – | – |
| 26 Oct 2020 | – | – | – |
| 22 Oct 2020 | 0.5 – 1 | – | – |
| 21 Oct 2020 | 1 – 2 | – | – |
| 20 Oct 2020 | 3 – 4 | 150 | – |
| 19 Oct 2020 | 3 – 4 | 150 | – |
| 17 Oct 2020 | 6 – 7 | 250 | 2,000 |
| 16 Oct 2020 | 4 – 5 | – | – |
| 15 Oct 2020 | 5 | – | – |
| 14 Oct 2020 | 5-7 | 200 | – |
| 13 Oct 2020 | 5-7 | 300 | – |
| 12 Oct 2020 | 8 | 300 | – |
| 10 Oct 2020 | 10 | 350 | – |
| 9 Oct 2020 | 10 | 350 | – |
Important points about IPO grey market and IPO GMP
IPO grey market movements may change very quickly and rates may be volatile. It is risky to base an investment decision on gray market IPO rates. Please refer to our research and analysis section.
Research has shown that retail investors are strongly influenced by market sentiment and as a result, are prone to overreaction, especially when it comes to IPO investing. Place your bets wisely!
IPO GMP rates are provided as sourced from market intelligence. Please note these IPO GMP rates may be different depending on geographies and markets.
We don’t trade into grey market nor do we facilitate buying or selling of IPO forms.
IPO GMP is the rate of premium an IPO commands per share in the informal grey market. This is the leading indicator of how the market perceives the IPO.
Kostak rate is the amount an investor gets by selling his/her IPO application in grey market. This is the amount an investor stands to gain, irrespective of allotment status.
Subject to Sauda simply reflects the amount which an investor stands to get by selling his/her application for firm allotment. The key operative word here is firm allotment. In case of no allotment to the applicant, the sauda stands cancelled.
