ESAF SFB refiling draft papers for IPO, will finish process by Dec

Issue size to smaller than earlier plan of Rs 998 crore, says company's CEO

ESAF Small Finance Bank will complete refiling the draft prospectus for its initial public offering (IPO) by December after being unable to complete the process to an earlier timeline, said Kadambelil Paul Thomas, the firm’s MD and CEO.

Thomas said the bank would now opt for a smaller IPO than the earlier planned offering of Rs 998 crore.

“Exact amount has not been decided but the general view is that we will go for a smaller size. Current CRAR is 20 per cent. We require capital. It will take 2 months to get Sebi’s approval,” he said on the sidelines