(Anjali Shreya, Intern Journalist): In the grey market, the interest of traders in Equitas Small Finance Bank (ESFB) shares is quite low. This is the reason that the premium of this issue has become completely clear.
The issue of Rs 518 crore opened for subscription from 20 to 22 October received a lukewarm response in the primary market. Only 22.57 crore shares were bid against the 11.58 crore shares offered in this issue.
The category of qualified institutional buyers (QIBs) received 3.9 times, the retail investor’s category got 2.08 times and the non-institutional rich investor’s category got just 22 percent subscription. The issue was succeeded by the kindness of QIB and retail investors. The company’s shares will be listed on November 2.
In the grey market too, the traders are keeping a distance from this stock, due to which the whole premium has blown away like steam. Till Monday, the premium of this stock in the grey market was running at a discount of zero to two rupees. According to analysts, there are several reasons why the issue has lost its sheen.
Sunil Chandak of Mumbai-based firm GenNext Invest told that the category of rich investors had received a lukewarm response. The overall response to this issue was also cooled. Significantly, this issue received a total subscription of 1.95 times.
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