India, October 18, 2021 (GNI): The Board of Directors of Equitas Small Finance Bank in the meeting held today have approved meeting the Minimum Public Shareholding (MPS) requirements stipulated by SEBI by raising a sum not exceeding Rs 1000 crore (including premium) through Qualified Institutions Placement (QIP).The process will be in accordance with Chapter VI of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 which includes obtaining approval of shareholders through Postal Ballot/e-voting, stated in the press release.
About Equitas Small Finance Bank Limited [ESFB] is one of the largest small finance banks in India. As a new-age bank, we offer a bouquet of products and services tailored to meet the needs of our customers – individuals with limited access to formal financing channels, as well as affluent and mass affluent, Small & Medium Enterprises (SMEs) and corporates. Our firmly entrenched strategy focuses on providing credit to the unbanked and underbanked micro and small entrepreneurs, developing products to address the growing aspirations at the ‘bottom of the pyramid’, fueled by granular deposits and ‘value for money’ banking relationships.
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