ESAF SFB Q2 results: Net profit jumps 145% to Rs 140 crore
The asset quality of the lender improved with gross-non performing asset (GNPA) at 2.64 percent from 8.11 percent in the corresponding quarter last year.
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The asset quality of the lender improved with gross-non performing asset (GNPA) at 2.64 percent from 8.11 percent in the corresponding quarter last year.
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.
The IPO is priced in the range of Rs 57-60. Investors can bid for a minimum of 250 shares and in multiples thereafter.
ESAF Small Finance Bank was incorporated in 1992, which majorly focuses on providing loans to rural and semi-urban customers, providing financial solutions.
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.