One thing I'll call out is the choice of whether to use an alternate cost (like
Overload) vs an additional cost (like
Kicker). Alternate costs usually imply a different functionality (do X instead of Y), while additional costs usually imply additional abilities (do X, and also do Y). For that reason, I'd lean towards using an additional cost for this.
The second thing I'll call out is that making the spell targeted has some unfortunate implications - if the target is killed, the spell fizzles. For that reason, I'd switch to use
Quest for the Holy Relic wording - just put it onto the battlefield and attach it to a creature.
The third thing I'll call out is that because the hand is a hidden zone, cards that allow you to take put a card from your hand onto the battlefield usually have a 'may' clause. (your opponent may take an action in response to the spell that makes you not want to play the equipment, for example)
So, my suggestion would be:
Pull Back 1W
Instant (C)
Requisition
2W (You may pay an additional 2W as you cast this spell. If you do, you may also put an equipment from your hand onto the battlefield and attach it to a creature you control.)
Unequipped creatures deal no combat damage this turn.
Colorwise? White makes sense, since it's the primary equipment color. I'd follow with red, since it gets
Magnetic Theft and a few other, similar effects. Other colors generally aren't equipment-friendly. You might be able to stretch it to blue (because of
Arcanum Wings), but probably not.
Pulling back a little more broadly, I question whether you would ever have enough pieces of equipment in a set to justify this keyword being present in a limited format - it won't be relevant the majority of the time. It may work better if you expanded the mechanic to also work with auras. There are also some concerns re: free equips (ex:
Colossus Hammer and
Argentum Armor) that would make me be cautious with this ability.