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Esaf SFB gets nod for IPO

Our Bureau Kochi | Updated on March 26, 2020

 

Esaf Small Finance Bank has received regulatory nod to float an initial public offering. SEBI has issued the final observations to the lenders' proposal in 2020. The company had filed its draft red herring prospectus (DRHP) on January 6 with the markets regulator SEBI for ₹976-crore IPO. According to the DRHP, the IPO comprises a fresh issue worth ₹ 800 crore and an OFS aggregating up to ₹176.2 crore. The bank, in consultation with its book running lead managers, 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, according to DRHP.

Published on March 27, 2020

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