ESAF Small Finance Bank Limited’s Initial Public Offering to open on Friday, November 3, 2023, sets price band at ₹57 to ₹60 per Equity Share
Mumbai, October 31, 2023: ESAF Small Finance Bank Limited, a small finance bank with a focus on unbanked and under-banked customer segments, especially in rural and semi-urban centers, has fixed the price band at ₹57 to ₹60 per Equity Share for its maiden initial public offer. The Initial Public Offering (“ IPO ” or “Offer” ) of the Company will open on Friday, November 3, 2023, for subscription and close on Tuesday, November 7, 2023. Investors can bid for a minimum of 250 Equity Shares and in multiples of 250 Equity Shares thereafter. The Public Issue of face value of ₹10 per Equity Share comprises of fresh issuance of Equity Shares worth Rs 390.70 crore and an Offer for Sale (OFS) of up to Rs 72.30 crore aggregating to Rs 463 crore. The Bank proposes to utilise the proceeds of the fresh issue to augment its Tier 1 capital base. The Lender's primary products are advances and deposits (current accounts, savings accounts, term deposits, and recurring deposits). Its advances co