|Opening Date||20 Oct 2020|
|Closing Date||22 Oct 2020|
|Price Range||32 – 33|
Equitas Small Finance Bank is a small finance bank founded in 2007 by Equitas as a microfinance lender, with headquarters in Chennai, India. After receiving license from the Reserve Bank of India (RBI) on 30 June 2016, Equitas began banking on 5 September 2016 as a subsidiary of holding company Equitas Holdings Ltd. With effect from 4 February 2017, Equitas became a scheduled bank. However, the company missed on RBI's mandate of listing within 3 years of commencement of its operations. Review from the Securities and Exchange Board of India and RBI is awaited.
The bank planned to build a network of 412 branches located in 11 Indian states by the end of fiscal year 2016-17 However, the bank is heavily committed to technology, with 83% of transactions occurring online as of July 2017. This includes the bank providing an RFID sticker to pay road tolls automatically, with settlements occurring digitally
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