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ESAF Small Finance Bank to Raise Rs. 350 cr by Selling Shares
May 04, 2018
Aiming for business expansion and opening of 200 bank branches in FY19, ESAF Small Finance Bank is going to raise Rs. 350 crores by selling its shares.
Kolkata-based lender’s founder and MD K Paul Thomas said that they plan to raise around Rs. 300 crores to Rs. 350 crores from investors to promote business growth. He said that the bank will also opt for listing in the next 3 years as its net worth will increase above Rs. 500 crores.
Originally founded in 1992, ESAF received RBI’s approval to start operations as a Non-Banking Financial Company in 2016.
