Equitas Small Finance Bank IPO GMP History
Equitas Small Finance Bank IPO has been listed on November 2, 2020 at a listing price of ₹31.1, against the issue price of ₹33 — a loss of ₹1.9 (-5.76%). The GMP peaked at ₹13.5 on 11 October 2020 and reached a low of ₹2.5 on 29 October 2020. The day-wise GMP trend below shows how grey market sentiment evolved from subscription to listing.
Equitas Small Finance Bank IPO raised ₹517.6 Cr. through its IPO at a price band of ₹32 to ₹33 per share, with a lot size of 450 shares. The IPO was open for subscription from 20 Oct 2020 to 22 Oct 2020.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
GMP trend
Grey market premium sampled three times a day (11 AM, 5 PM, 10 PM). Last updated 11 Nov, 6:58 PM IST.
Day-wise GMP
The last reading of each day, newest first. Arrows compare with the previous day.
| Date | GMP | ↑↓ | % | Kostak | Sub. Sauda |
|---|---|---|---|---|---|
| 29 Oct 2020 | ₹ 2.5 | — | 8% | — | — |
| 28 Oct 2020 | ₹ 2.5 | — | 8% | — | — |
| 27 Oct 2020 | ₹ 2.5 | — | 8% | — | — |
| 26 Oct 2020 | ₹ 2.5 | — | 8% | — | — |
| 25 Oct 2020 | ₹ 2.5 | — | 8% | — | — |
| 24 Oct 2020 | ₹ 2.5 | — | 8% | — | — |
| 23 Oct 2020 | ₹ 2.5 | — | 8% | — | — |
| 22 Oct 2020 | ₹ 2.5 | — | 8% | — | — |
| 21 Oct 2020 | ₹ 2.5 | — | 8% | — | — |
| 20 Oct 2020 | ₹ 2.5 | — | 8% | — | — |
| 19 Oct 2020 | ₹ 2.5 | ▼ | 8% | — | — |
| 18 Oct 2020 | ₹ 9 | — | 27% | — | — |
| 17 Oct 2020 | ₹ 9 | — | 27% | — | — |
| 16 Oct 2020 | ₹ 9 | ▲ | 27% | — | — |
| 15 Oct 2020 | ₹ 4 | — | 12% | — | — |
| 14 Oct 2020 | ₹ 4 | ▼ | 12% | — | — |
| 13 Oct 2020 | ₹ 9 | — | 27% | — | — |
| 12 Oct 2020 | ₹ 9 | ▼ | 27% | — | — |
| 11 Oct 2020 | ₹ 13.5 | — | 41% | — | — |
| 10 Oct 2020 | ₹ 13.5 | ▲ | 41% | — | — |
| 09 Oct 2020 | ₹ 9 | — | 27% | — | — |
| 08 Oct 2020 | ₹ 9 | — | 27% | — | — |
Equitas Small Finance Bank IPO dates
Key dates from opening to listing. Today is 14 November.
- Open 20 Oct 2020
- Close 22 Oct 2020
- Allotment 27 Oct 2020
- Refund/credit 28 Oct 2020
- Listing 02 Nov 2020
Equitas Small Finance Bank IPO actual listing price
How the grey market's final call compared with the listing-day open.
| Issue price | ₹33 |
|---|---|
| GMP-based estimate (pre-listing) | ₹35 (+6.1%) |
| Listing gain / loss | −₹1.9 per share |
| Listing date | 02 Nov, 2020 |
| Actual listing price | ₹31.1 (-5.76%) |
Is Equitas Small Finance Bank IPO GMP reliable?
Grey market premium for Equitas Small Finance Bank IPO should be interpreted with caution. The GMP is an unregulated, unofficial market not governed by SEBI. Here's how to read the current signal:
- 01Subscription rate matters: A high GMP paired with strong subscription — especially QIB (Qualified Institutional Buyer) oversubscription — is a more reliable bullish signal than GMP alone. Read our in-depth analysis: GMP vs Subscription Data — Which Predicts Listing Gains Better?
- 02Timing matters: GMP in the first 1–2 days of subscription is less reliable. GMP on the final subscription day and the day before listing tends to be the most accurate predictor.
- 03Grey market is thin: For smaller IPOs, even a handful of large orders can swing the GMP significantly. Treat low-volume GMP signals with extra caution.
- 04Cross-check before acting: Review the Equitas Small Finance Bank IPO full review for a fundamentals-based assessment before making any grey market trades.
Equitas Small Finance Bank IPO Kostak rate explained
Two ways the grey market trades an IPO application before listing.
The Kostak rate for Equitas Small Finance Bank IPO was not available during the subscription period. Kostak is the fixed amount a grey market buyer pays for an IPO application regardless of allotment outcome.
The Subject to Sauda price was not available for this IPO. Subject to Sauda only applies if allotment is confirmed — the buyer pays a premium on top of the issue price per lot allotted.
Grey market trading is unofficial and unregulated by SEBI. Proceed with full awareness of the associated risks.
About Equitas Small Finance Bank IPO
Equitas Small Finance Bank Limited is a subsidiary of Equitas Holdings Limited. The group began in 2007 as an NBFC giving microfinance loans, added housing finance in 2011, and added vehicle and MSE finance in 2012.
According to the CRISIL Report in its RHP, it was the largest small finance bank in India by number of banking outlets, and the second largest by assets under management and total deposits, in Fiscal 2019.
It focuses on individuals with informal, variable and cash based incomes who have limited access to formal finance. Its gross NPAs were 2.68% of gross advances on 30 June 2020.
The IPO was Rs 517.60 crore, with Rs 280.00 crore of fresh issue and Rs 237.60 crore of offer for sale by Equitas Holdings. The fresh money was to augment the bank's Tier I capital base.
Frequently asked
What is the GMP of Equitas Small Finance Bank IPO?
The current Grey Market Premium (GMP) of Equitas Small Finance Bank IPO is ₹ 2.5.
What is the Kostak Price of Equitas Small Finance Bank IPO?
Kostak rate is the profit made by selling an IPO application before allotment. The current Kostak rate for Equitas Small Finance Bank IPO is not available.
What is the Subject to Sauda Price of Equitas Small Finance Bank IPO?
Subject to Sauda is the premium amount decided if the allotment is confirmed. The current Subject to Sauda rate is not available.
What was the actual listing price of Equitas Small Finance Bank IPO?
Equitas Small Finance Bank IPO listed on November 2, 2020 at ₹31.1, against the issue price of ₹33 — a loss of -5.76%.
How did the GMP of Equitas Small Finance Bank IPO trend before listing?
The GMP of Equitas Small Finance Bank IPO was stable in its final days before listing. The GMP peaked at ₹13.5 on 11 October 2020. View the day-wise table above for the complete GMP history.
Explore Equitas Small Finance Bank IPO further
The grey market is one signal. Read it alongside the demand, the reviews and the filings before you decide.
It has listed — go back to the fundamentals.
Category-wise demand from QIB, NII and retail investors, updated through the day.
What brokers and analysts are saying about this issue, in one place.
Check with your PAN whether shares were credited to your demat account.
The grey market called it. Now check the fundamentals.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Read the grey market alongside the subscription book and the offer document before you apply.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
