ESAF Small Finance Bank has filed for an initial public offering (IPO) of up to ₹1,000 crore. The IPO will consist of a fresh issue of equity shares worth ₹800 crore and an offer for sale of ₹200 crore by existing shareholders.

ESAF Small Finance Bank is a non-banking financial company (NBFC) that was incorporated in 2008. The bank provides financial services to micro, small and medium enterprises (MSMEs) and low-income households. It has a network of over 1,500 branches across India.

The proceeds from the IPO will be used to augment the bank’s capital base and fund its growth plans. The bank plans to expand its branch network, invest in technology, and develop new products.

The IPO is expected to be launched in the second half of 2023.

Here are some of the key details of the IPO:

  • Issue size: Up to ₹1,000 crore
  • Fresh issue: ₹800 crore
  • Offer for sale: ₹200 crore
  • Price band: To be determined
  • Registries: KFin Technologies and Link Intime India
  • Lead managers: Axis Capital, ICICI Securities, JM Financial, Kotak Mahindra Capital, and SBI Capital Markets

The IPO of ESAF Small Finance Bank is a significant event for the Indian financial sector. It is the first IPO by a small finance bank since 2017. The IPO is expected to be well-received by investors, as small finance banks are seen as a growth segment in the Indian banking industry.


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