Equitas Holdings’ IPO Opens On 5th April 2016

Equitas Holdings limited issued IPO to subscribe with a price band of Rs. 109-110 per share. The initial public issue  opened on Tuesday 5th April 2016. The purpose of the firm to raise nearly Rs. 2200 crore through its public issue.

It already raised Rs 652 crore from 16 anchor investors by selling 5.92 crore equity shares at a price of Rs 110 per share on Monday.

Chennai based company Equitas allots 59.3 million shares at 110 rupees/share to 16 anchor investors.

Franklin Templeton MF, Birla Sun Life, SBI Mutual Fund, UTI MF, ICICI Prudential MF, Kotak Mahindra MF, HDFC Standard Life Insurance, Tata AIA Life Insurance, Sundaram MF and Reliance Life Insurance are some of the anchor investors.

Total revenue of the company surged 56% to Rs.755.9 crore in 2014-15 from Rs.483.5 crore in the previous year, as per the data from the company’s draft IPO filings.

The firm brought its IPO in the market for the purpose to enhance the Capital base of the firm’s subsidiaries to meet their future capital requirements arising out of the growth in its business.

The closing date of the IPO is fixed on 7th April  2016.

On its first day, it got subscribed 9% with retail subscription figures standing at 17%.

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