Business

ESAF SFB files for ₹976 cr. IPO

ESAF Small Finance Bank (SFB) has filed draft papers with the Securities Exchange Board of India (SEBI) for a ₹976-crore initial public offering (IPO).

The IPO comprises a fresh issue of shares worth ₹800 crore and an offer-for-sale aggregating up to ₹176.20 crore, according to the draft prospectus.

The bank may consider a pre-IPO placement of up to ₹300 crore. If it is undertaken, the amount raised will be reduced from the fresh issue, the draft papers said. The proceeds from the fresh issue will be used to augment the bank’s tier-1 capital.

The issue is managed by Axis Capital, Edelweiss Financial Services, ICICI Securities and IIFL Securities.

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Printable version | Feb 26, 2020 4:32:34 AM | https://www.thehindu.com/business/esaf-sfb-files-for-976-cr-ipo/article30496551.ece

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