ESAF Small Finance Bank files Rs 998-crore IPO papers with Sebi

0
152



has filed preliminary papers with capital regulator to raise Rs 998 crore through an initial public offer (IPO).


The Rs 997.78-crore public issue comprises fresh issue of equity shares worth Rs 800 crore and an offer for sale of Rs 197.78 crore by existing selling shareholders, the draft red herring prospectus (DRHP) filed with showed.





Under the offer for sale, promoter will be selling shares worth Rs 150 crore, PNB MetLife would be offloading shares to the tune of Rs 21.33 crore, Bajaj Allianz Life will offer shares of Rs 17.46 crore, PI Ventures will sell Rs 8.73 crore worth shares and John Chakola will offer shares worth Rs 26 lakh.


The bank may consider a pre-IPO placement of equity shares for an aggregate amount up to Rs 300 crore. If the pre-IPO placement is undertaken, the amount raised from such placement will be reduced from the fresh issue.


Proceeds from the fresh issue will be used to augment the bank’s Tier I capital base to meet future capital requirements.


is one of the leading small finance banks in India in terms of client base size, yield on advances, net interest margin, assets under management compound annual growth rate (CAGR), total deposit CAGR, loan portfolio concentration in rural and semi-urban areas and ratio of micro loan advances to gross advances.


As at May 31, 2021, the small finance bank had over 4.68 million customers in 21 states and two union territories.


Axis Capital, Edelweiss Financial Services, ICICI Securities and IIFL Securities have been appointed as merchant bankers to advise the bank on the IPO.


The equity shares of the bank will be listed on BSE and NSE.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor





Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here