Equitas Small Finance Bank Share Price

Equitas Small Finance Bank Share Price

Equitas Small Finance Bank Share Price — Equitas Small Finance Bank is a small finance bank founded in 2016 as a microfinance lender. The bank has its headquarters in Chennai and is a subsidiary of holding company Equitas Holdings Ltd.

Relevant questions and answers on Equitas Small Finance Bank share price…

Is Equitas Small Finance Bank safe?

Is it safe to open a fixed deposit account with Equitas Small Finance Bank? Equitas Small Finance Bank is a licensed scheduled bank, i.e. legally registered with the Reserve Bank of India. All deposits made with the bank are covered by Rs. 5 lakh insurance by DICGC.

Can I buy Equitas Small Finance Bank?

ICICI Securities has a buy call on Equitas Small Finance Bank with a target price of Rs 92. The current market price of Equitas Small Finance Bank Ltd. is Rs 63.45. The time period given by the analyst is one year when Equitas Small Finance Bank Ltd.’s price can reach a defined target.

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What is the status of Equitas bank?

Equitas Small Finance Bank IPO subscribed 1.95 times. Equitas Small Finance Bank IPO received bids for 2.08 times issue size in retail, 3.91 times issue size in QIB, and 0.22 times issue size in the Non-institutional category by Oct 22, 2020, 17:00.

Who is the CEO of Equitas bank?

Vasudevan Pathangi Narasimhan is the MD and CEO of our Bank. He holds a bachelor’s degree in science (physics) from the University of Madras. He is a qualified company secretary from the Institute of Company Secretaries of India.

Why did Equitas share price fall?

Equitas Holdings—the holding company of Equitas Small Finance Bank—has fallen by a sharp 13-odd percent today. SEBI’s communique follows the RBI’s refusal to grant the company extension of the listing deadline (on or before September 5, 2019) for its subsidiary– Equitas Small Finance Bank.

Is it good to buy Equitas IPO?

The brokerage has a ‘buy’ rating on the holding company Equitas Holdings with a price target of Rs 64 for its superior asset diversification, reasonable liability profile, better management pedigree, healthy return ratios, and reasonable valuations.

How many branches does Equitas Bank have?

Equitas Small Finance Bank has 847 branches spread across the state(s) of India.

Equitas Small Finance Bank Contact Details

Is Equitas a Nationalised bank?

After receiving a license from the Reserve Bank of India (RBI) on 30 June 2016, Equitas Small Finance bank began banking on 5 September 2016. With effect from 4 February 2017, Equitas became a scheduled bank. The bank became a public company via an initial public offering (IPO) in October 2020.

When did Equitas formally became a small finance bank?

Equitas Small Finance Bank Limited formerly Equitas Finance Limited (EFL) commenced operations as a Small Finance Bank (SFB) on 5 September 2016. Prior to the commencement of operations as a bank EFL a wholly-owned subsidiary of EHL operated as an NBFC.

Will Equitas share price go up?

Will Equitas Holding stock price grow/rise/go up? Yes. The Equitas Holdings Ltd stock price can go up from 119.900 INR to 165.912 INR in one year.

Should I buy Equitas small finance IPO?

The provision coverage ratio for Q1FY21 was at 48.8 percent. “The current target for Equitas Holdings implies a per-share value of Rs 40 for Equitas Small Finance Bank (assuming a 40 percent holding company discount), implying a decent upside to the issue price. Thus, we recommend subscribing to SFB IPO,” said the brokerage.

Can I buy Equitas IPO?

The Equitas Small Finance Bank IPO market lot size is 450 shares. A retail-individual investor can apply for up to 13 lots (5850 shares or ₹193,050).

What is the minimum balance in Equitas bank?

The Average Monthly Balance (AMB) to be maintained in Equitas Small Finance Bank depends on the region. If the branch is in metro, then the customer is required to maintain ₹10,000. For semi-urban and rural branches, Equitas Small Finance Bank customer is required to maintain ₹5,000 and ₹2,500 respectively.

How many employees does Equitas Bank have?

How many employees does Equitas Small Finance Bank have? Equitas Small Finance Bank has more than 10,000 employees.

What is Equitas holding?

Equitas Holdings Limited operates as a holding company. The Company, through its subsidiaries, provides financial services such as lending, housing finance, vehicle loan, and borrowing services. Equitas Holdings conducts its business in India.

Is Equitas bank approved by RBI?

CHENNAI: Equitas Small Finance Bank has announced to have received the banking regulator’s approval to apply for a scheme of amalgamation, on Saturday. Following this, RBI has permitted the Bank, on July 9, 2021, to apply to the banking regulator, seeking approval for the Scheme of Amalgamation.

Where is the headquarter of Equitas small finance bank?

Chennai, India.

What does Equitas small finance bank do?

Equitas Small Finance Bank is a new age bank that is giving children, youth, families, and business people across India a new and fun way to the bank. In our time as a microfinance company, we silently went about enabling livelihoods and elevating lives.

Is Equitas IPO profitable?

On the financial front, Equitas Small Finance Bank’s net profit increased to Rs 243 crore in FY20, from Rs 210 crore in FY19, while its net income rose to 1,777 crores in FY20. The Rs 520 crore IPO of Equitas Small Finance Bank (ESFB) will open today for subscription and close on October 22.

How is IPO of Equitas small finance bank?

Equitas Small Finance Bank shares failed to cheer investors on November 2 as it debuted at a 6 percent discount to its issue price. The stock opened lower by 6.06 percent at Rs 31 on the BSE, while it was down 5.76 percent at Rs 31.10 at open on the National Stock Exchange, against an issue price of Rs 33 per share.

How do I apply for Equitas bank?

  1. Visit equitasbank.com and select Login from Menu.
  2. Click on ‘Personal’ and Select ‘New User Registration’
  3. Sign up with either ‘User Details or Debit Card Details’
  4. Select and answer any 3 Security Questions.
  5. Enter the OTP sent to your registered mobile number and confirm.
  6. Set Password and submit to activate Internet Banking.

Is Equitas bank zero balance account?

Equitas Selfe Savings is a zero balance online savings account that customers can open by using their PAN and Aadhaar card. After the Equitas Selfe account opening process is complete, download the mobile banking app and start using the account instantly.

What is Equitas bank interest rate?

Equitas Bank FD Interest Rates

TenureFD interest ratesSenior Citizen FD interest rates
271 days to 364 days5.15%5.75%
888 days6.50%7.00%
889 days to 3 years6.30%6.80%
18 months 1 day to 2 years6.25%6.75%

How can I open Equitas small finance bank?

The account is opened on the basis of my/ our Aadhar Card. The bank is authorized to fetch my/ our personal details from the database of UIDAI from my/ our Aadhar Number provided to the Bank, using OTP-based authentication, which will be used for KYC purposes.

Who are the promoters of Equitas small finance bank?

Mumbai: Equitas Holding Ltd, the promoter of Equitas Small Finance Bank, on Saturday said the Reserve Bank of India has allowed it to file for a scheme of amalgamation of the promoter entity with the bank. Currently, both Equitas Holding Ltd and Equitas Small Finance Bank are listed on the stock exchanges.

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