The initial public offer received more than 5.8 lakh applications.
Reflecting good response, the IPO generated demand worth over Rs 26,000 crore from only domestic investors as it received total bids for 2,39,57,56,440 shares against the issue size of 13,91,91,802 shares, data available with NSE till 2030 hours showed.
The portion set aside for qualified institutional buyers (QIBs) was oversubscribed 14.93 times and that of non-institutional investors received 57 times subscription, sources said.
The company has mopped up Rs 652 crore from anchor investors.
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Equitas Holdings, with a licence for a small finance bank, has fixed the price band at Rs 109-110 per share. The IPO, the first and also the largest in the current fiscal, ended on Thursday.
The offer comprises fresh issue of shares aggregating Rs 720 crore and an offer for sale of up to 1,32,425,884 shares by existing shareholders, including P N Vasudevan, MD, and private equity stakeholders.
The IPO would bring down the company's foreign holding to 35 per cent, from the current 93 per cent.
Funds raised from the fresh issue will be used to develop IT infrastructure for the new bank and lending purposes, among others.
Axis Capital, ICICI Securities, HSBC and Edelweiss Financial Services are managing the company's IPO.
Earlier this year, staffing firm TeamLease Services IPO had received an overwhelming response from investors as the issue was oversubscribed 66 times.