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Equitas Small Finance wins approval for Indian IPO
India’s market regulator has given Equitas Small Finance Bank (ESF) the go-ahead for its IPO, which is expected to raise about Rp10bn ($136.3m).
The lender is India’s second largest small finance bank by assets under management and deposits last year, according to research by Crisil. It is floating a mixture of primary and secondary stock. It received approval from the Securities and Exchange Board of India on February 28.
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