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April 21, 2016

What explains microfinance firm Equitas' 23% gain on Listing Day?

Chennai-based Equitas Holdings, which is focused on providing microfinance and other financial services to bottom-of-the pyramid customers, closed its first day as a public company at INR 135.25, a gain of 23% over its IPO price of INR 110 per share. The company was 93% owned by PE/VC and Impact Investors prior to its IPO.

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