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ESAF Small Finance Bank raises ₹162 crore through preferential allotment
April 19, 2021
ESAF Small Finance Bank has raised ₹162 crore as equity through preferential allotment of shares.
A total of 2.18 crore shares were allotted preferentially to certain investors in the HNI category including some existing investors, leading to a dilution of around 5 per cent at ₹75 per share. The shares were priced at 2.64 times pre-issue, and 2.45 times post issue, of book value as of September 30, 2020.
“The additional capital raised will strengthen the Capital Adequacy by about 250 basis points and will support our ambitious growth plan set for FY22. The overwhelming response shown by our investors during these tough times gives us the confidence to aim big. Considering the comfortable capital position and subdued market outlook on BFSI stocks, we have decided to postpone the IPO scheduled for the last financial year,” said K Paul Thomas, MD & CEO, ESAF Small Finance Bank.