ESAF Small Finance Bank has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise an estimated Rs 976 crore through an Initial Public Offering (IPO).
The proceeds from the fresh issue will be used to augment the bank's tier-1 capital (primarily loans or advances and investment portfolio) to meet future capital requirements. The book running lead managers to the issue are Axis Capital, Edelweiss Financial Services, ICICI Securities and IIFL Securities.
ESAF Small Finance Bank provides banking services. The Bank offers savings accounts, fixed and recurring deposits, loans, insurance, money transfer, credit cards, currency exchange, and other related services. ESAF Small Finance Bank serves customers in India.
