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Equitas Small Finance Bank will not take IPO route, plans to rejig shareholding

Updated : November 05, 2018 12:50:35 IST

Equitas Small Finance Bank on Monday said it's planning to restructure shareholding instead of an initial public offering (IPO).

In an interview to CNBC-TV18, PN Vasudevan, managing director and chief executive officer, said, "Overall things are beginning to fall in place and the effect of conversion to a bank as well as demonetisation impact is behind us. We believe that we should look at sustained performance going forward."

Talking about growth, Vasudevan said, “We have already guided that in terms of our advance growth. We are looking to end this year at around 40 percent, so we are at 36 for the second quarter, but we are well inline to meet the 40 percent plus growth for the rest of the year.”
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