ESAF Small Finance Bank has received capital markets regulator Sebi’s go-ahead to float a Rs 976-crore initial public offering. The company had filed draft papers with Sebi in January and obtained its “observations” on March 20, as per the latest information available with the markets watchdog. Sebi’s observations are necessary for any company to launch public issues, including initial public offer (IPO), follow-on public offer (FPO) and rights issue.
The IPO of ESAF Small Finance Bank comprises a fresh issue of shares worth Rs 800 crore and an offer-for-sale (OFS) aggregating up to Rs 176.2 crore, according to the draft prospectus filed with the Securities and Exchange Board of India (Sebi).
