New Delhi, October 31, 2023 – ESAF Small Finance Bank, a leading small finance bank in India, is set to open its initial public offering (IPO) on November 3, 2023. The IPO will offer a total of 59.33 million shares, including 39.07 million new shares and 20.26 million shares offered by selling shareholders.
The price band for the IPO has been set at ₹57 to ₹60 per share. The IPO will be open for subscription for three days, from November 3 to November 7.
The proceeds from the IPO will be used to augment the bank’s capital base, which will help it to expand its lending portfolio and meet the growing demand for financial services in India.
ESAF Small Finance Bank is one of the leading small finance banks in India with a network of over 4,000 branches and 10,000 ATMs across the country. The bank offers a wide range of financial products and services to its customers, including savings accounts, loans, insurance, and investment products.
The IPO is expected to be well received by investors, given the strong fundamentals of ESAF Small Finance Bank and the growing demand for financial services in India.
Key highlights of the IPO:
- Offer size:Â 59.33 million shares
- Price band: ₹57 to ₹60 per share
- Open for subscription:Â November 3 to November 7
- Proceeds from the IPO:Â To augment capital base
About ESAF Small Finance Bank:
ESAF Small Finance Bank is a leading small finance bank in India with a network of over 4,000 branches and 10,000 ATMs across the country. The bank offers a wide range of financial products and services to its customers, including savings accounts, loans, insurance, and investment products.
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