The Rs 463-crore IPO includes a fresh equity issue of Rs 391 crore and an offer for sale (OFS) of Rs 72 crore. Under the OFS, promoter selling shareholder ESAF Financial Holdings will offload stake worth Rs 49 crore and other selling shareholders PNB MetLife and Bajaj Allianz Life make up for the remaining OFS portion.
ESAF Small Finance Bank was incorporated in 1992, which majorly focuses on providing loans to rural and semi-urban customers, providing financial solutions.
Under the OFS, promoter selling shareholder ESAF Financial Holdings will offload a stake worth Rs 49 crore and other selling shareholders PNB MetLife and Bajaj Allianz Life make up for the remaining OFS portion.
The Thrissur-headquartered small finance bank allocated shares worth Rs 20 crore each to ACM Global Fund VCC, Edelweiss Life and Kotak Mahindra Life Insurance Company. Edelweiss Life acquired those shares through its four schemes. ICICI Prudential Life, SBI General Insurance, Founders Collective Fund and Ananta Capital Ventures have put in Rs 11 crore each.