Indian market regulatory authority body i.e SEBI has finally given approval to one of the microfinance company by the name of Equitas Holdings and auto components maker G N Axles to float IPO in the market. IPO meaning is Initial Public Offering. Company`s main business is microfinance. Apart from this the company is offering services like vehicle finance ,house finance ,loan against property and business loan for small and medium enterprises.
Equitas Holding and Auto Components maker G N A Axles offers fresh issue of shares which is of worth Rs.600 crore.
10 Key Features of Equitas Holding Initial Public Offering(IPO):
- Equitas Holding and auto components maker G N A Axles has filed their draft red herring prospectus (DRHP) with Sebi in the month of October and September respectively requesting the permission to launch Initial Public Offerings (IPOs).
- The microfinance company got clearance from the capital market regulatory i.e SEBI on 8 Jan, 2016.
- According to the report Equitas Holding`s IPO consist of fresh issue of shares which is of worth Rs.600 crore and an equal amount by selling shares to existing shareholders.
- The company is Chennai based and they are planning to sell share of worth Rs 300 crore to the institutional investors from the existing Rs 600 crore IPOs.
- The public issue of GNA Axles consists of up to 63 lakh shares with a face value of Rs 10 each. It has reserved 2 lakh shares for its employees.
- The microfinance company Equitas Holding and auto components maker G N A Axles is proposed to be listed on BSE and NSE.
- This is the second largest microfinance company to offer IPO. Previously in year 2010 Microfinance Company by the name of SKS Microfinances has launched IPO of worth of Rs 1,654 crore.
- Company revenue increased to Rs 755.9 crore for the year 2014-15 which is 56% of the previous year revenue which was around Rs 483.5 crore.
- Equitas Holding and auto components maker G N A Axles assets under management (AUM) has jumped to more than 60% in year 2014-15 to Rs.4,010 crore from Rs.2,485 crore a year ago.
- Equitas Holding and auto components maker G N A Axles fresh disbursed loans are worth of Rs 3,606 crore in year 2014-15.