MUMBAI: Equitas Small Finance Bank, a subsidiary of Equitas Holdings, has fixed the price band at Rs 32-33 per share as it plans to raise Rs 517.6 crore via an initial public offering (IPO).

The IPO will open for subscription on 20 October and close on 22 October. The issue for anchor investors will open on 19 October. Bids can be made for a minimum of 450 equity shares and in multiples of 450 thereafter.

The public float comprises a fresh issue of Rs 280 crore and an offer for sale of up to 7.2 crore equity shares by Equitas Holdings.

The offer includes reservation of Rs 51 crore worth of shares for eligible shareholders of Equitas Holdings and Rs 1 crore shares for eligible employees of Equitas Small Finance Bank.

The shares will be listed on the BSE and the NSE.

JM Financial, Edelweiss Financial Services and IIFL Securities are book running lead managers to the issue.