Comments
Kerala-based ESAF Small Finance Bank on Monday filed draft red herring prospectus with SEBI for ₹976-crore IPO. According to the DRHP, the IPO comprises a fresh issue worth ₹800 crore and an offer-for-sale aggregating up to ₹176.2 crore. The bank, in consultation with its book running lead managers (BRLMs) 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 DRHP said. The BRLMs to the offer are Axis Capital, Edelweiss Financial Services, ICICI Securities and IIFL Securities. The net proceeds from the fresh issue will be used to augment the bank’s Tier 1 capital (primarily loans/advances and investment portfolio) to meet future capital requirements.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.