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ESAF Small Finance Bank files DRHP for Rs 976 crore IPO with Sebi

According to the DRHP, the IPO comprises a fresh issue worth Rs 800 crore and an Offer for Sale (OFS) amounting to Rs 176.2 crore

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The bank currently serves 3.73 million customers in 16 states and a union territory through a network of 403 branches and 38 ultra-small branches.

T E Narasimhan Chennai

2 min read Last Updated : Jan 06 2020 | 7:10 PM IST

Kerala based ESAF Small Finance Bank filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO) of Rs 976 crore on Monday.

According to the DRHP, the IPO comprises a fresh issue worth Rs 800 crore and an Offer for Sale (OFS) amounting to Rs 176.2 crore.

The bank, in consultation with its Book Running Lead Managers (BRLMs), might also consider a pre-IPO placement of Rs 300 crore, which will be reduced from the fresh issue, the DRHP indicated.

The BRLMs to the offer are Axis Capital Limited,

Topics : ESAF Small Finance Bank ESAF Microfinance IPO initial public offerings Sebi Securities and Exchange Board of India