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ESAF to raise Rs 300 cr for small finance bank

The new SFB is expected to start operating by mid-February 2017

T E Narasimhan  |  Chennai 

Thrissur-based ESAF Microfinance is planning to raise around Rs 300 crore to support its Small Finance Bank operation, for which it has got a licence.   The new SFB is expected to start operating by mid-February 2017. ESAF says the aim is to make profit in the first year itself; it will be listed on the exchanges in due course.   The proposed fund raising is to support the investment in branches, people and information technology, said K Paul Thomas (pictured), chairman and managing director. Consultancy entity EY has been hired for this change to an SFB, which will be ...

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