Equitas Small Finance Bank declares raising of ₹500 crore fund via NCDs with 50% green shoe option
The board of Equitas Small Finance has approved the issuance of non-convertible debentures (NCDs) worth up to ₹ 500 crore through private placement.
The proposed issue will consist of up to 50,000 rated, listed, unsecured, redeemable, fully paid-up subordinated NCDs, each having a face value of ₹ 1 lakh. These debentures will be categorized as Lower Tier II Capital in line with Basel II capital adequacy norms.
The total issue size includes a green shoe option of up to 25,000 NCDs, amounting to ₹ 250 crore, allowing the company to raise additional funds depending on investor demand.
The issuance will be done in a single series and will help strengthen the company's capital base.
A green-shoe option is a provision that allows a company to raise additional funds by issuing more securities than initially planned, in case of strong investor demand. For non-convertible debentures (NCDs), this means the issuer can expand the total fundraising amount without launching a separate issue. It helps the company manage oversubscription efficiently and ensures better price and liquidity stability. In this case, the green-shoe option gives the company flexibility to raise an extra ₹ 250 crore—on top of the base issue of ₹ 250 crore—bringing the total potential issuance to ₹ 500 crore.
The stock has declined over 29 percent in the past one year. After gaining 5.5 percent in June, it has dropped another 6 percent so far in July. The start of the year was marked by sharp volatility — the stock rose 4 percent in January, fell 14.5 percent in February, slipped 3.3 percent in March, surged 22 percent in April, and declined 5 percent in May.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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