I was recently checking investor presentation of the ESAF bank. they raised 390 crores in fresh issue and also there are some selling shareholders. In this attached pic, it is mentioned issue expense is 42 crores for raising 390 crores. Almost 10% of fresh money went into the expense. I know during IPO there are lot of costs involved, but 42 crores is some mind boggling number. Is this is how all IPOs happen
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