ESAF Small Finance Bank has refiled preliminary papers with capital markets regulator Sebi to raise Rs 629 crore through an initial public offering (IPO).
The lender has cut down the issue size, which now comprises fresh issue equity shares aggregating to Rs 486.74 crore and an offer for sale (OFS) of Rs 142.3 crore, according to the draft red herring prospectus (DRHP) available with Sebi on Monday.
Those selling shares in the OFS are promoter — ESAF Financial Holdings Private Ltd and other shareholders — PNB MetLife India Insurance Company Ltd, Bajaj Allianz Life Insurance Company Ltd.
At present, ESAF Financial Holdings owns a 62.46 per cent stake in the small finance bank, while PNB MetLife and Bajaj Allianz Life owns 4.75 per cent and 3.89 per cent stake in the lender, respectively.
Proceed of the fresh issue will be utilised to augment the bank’s Tier 1 capital base.
The fresh filling came after ESAF Small Finance Bank’s managing director and chief executive K Paul Thomas i
| Subscribe To Our Free Newsletter |
