Friday, November 22, 2024
HomePersonal FinanceESAF Small Finance Bank applies for IPO with SEBI

ESAF Small Finance Bank applies for IPO with SEBI

ESAF Small Finance Bank has applied to capital markets regulator SEBI to raise Rs 998 crore through initial public offering (IPO). According to the draft Red Herring Prospectus (DRHP), the IPO proposes to issue fresh equity shares worth Rs 800 crore, while there is a sale offer of Rs 197.78 crore by existing shareholders.




Under the offer for sale, promoters will sell shares worth Rs 150 crore, PNB MetLife will sell shares worth Rs 21.33 crore and Bajaj Allianz Life will sell shares worth Rs 17.46 crore. In addition, there is an offer to sell shares worth Rs 8.73 crore by PI Ventures and Rs 26 lakh by John Chakola.

The bank may consider issuing shares up to Rs 300 crore before the IPO. If these shares are issued, the amount received from them will be deducted from the IPO. The proceeds from the fresh issue will be used to meet future capital requirements.

Parvesh Maurya
Parvesh Maurya
Parvesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @ informalnewz@gmail.com
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