Equitas board approves QIP issue

Chennai: The board of

Equitas

Small Finance Bank on Friday approved a

QIP

(

Qualified Institutional Placement

) issue at the price of ₹53.59 per equity share. This includes a premium of Rs 43.59 per share and the issue price also takes into account a discount of 4.98% to the floor price of Rs 56.4 per equity share, Equitas said in a filing. The board has also approved the confirmation of allocation note to be sent to the eligible qualified institutional buyers, intimating them of allocation of shares pursuant to the issue. Reporting its December quarter results earlier in January, the

SFB

said its net profit declined 2.34% to Rs 108.11 crore as against Rs 110.7 crore during the period ending December 2020. Equitas SFB shares closed the trading day down 0.3% at Rs 53.45 apiece on the BSE. TNN