IPO Central

Equitas Small Finance Bank (SFB) was the largest SFB in India in terms of number of banking outlets, and the second largest SFB in India in terms of assets under management and total deposits in Fiscal 2019. The bank offers a range of banking products and services to customers with a focus on serving the financially unserved and underserved customer segments in India. The group started operations in 2007 as an NBFC providing microfinance loans and gradually started providing housing finance, vehicle finance and MSE finance.

Currently, the bank’s asset products include small business loans comprising LAPs, housing loans, and agriculture loans to micro-entrepreneurs, microfinance to JLGs (Joint Liability Groups), used and new commercial vehicle loans to drivers and micro-entrepreneurs typically engaged in logistics, MSE loans to proprietorships, and corporate loans. On the liability side, it offers current accounts, salary accounts, savings accounts, and a variety of deposit accounts. As of 31 March 2019, it had the largest network of banking outlets among all SFBs in India. As of 30 September 2019, its distribution network comprised 853 banking outlets and 322 ATMs across 15 states and union territories in India.

Promoters of Equitas Bank – Equitas Holdings Limited