ESAF Small Finance Bank has raised INR 135.15 crore from 11 anchor investors led by ACM Global Fund, Edelweiss Tokio Life Insurance Company and Kotak Mahindra Life Insurance Company, a day ahead of the bank's INR 463 crore initial public offer (IPO). ESAF has allocated a little over 2.25 crore equity shares to anchor investors at INR 60.
ESAF, a microfinance institution-turned bank, will issue fresh shares worth INR 390.1 crore in the IPO while three existing investors including ESAF Financial Holdings will pare their stakes through the offer for sale (OFS) window of INR 72.3 crore.
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