ESAF Small Finance Bank on Monday announced that it has raised Rs 162 crore as equity via preferential allotment of shares.
According to the official communiqué, Rs 2.18 crore total shares were allotted preferentially to certain HNI (high networth individual) investors, which include some existing investors, leading to a dilution of around 5 percent at Rs 75 per share.
The shares were priced at 2.64 times pre-issue, and 2.45 times post issue, of its book value as of September 30, 2020, it said.
“’The additional capital raised will strengthen the capital adequacy by about 250 basis points and will support our ambitious growth plan set for FY 22,” said K Paul Thomas, Managing Director and Chief Executive Officer, ESAF Small Finance Bank.
As per the unaudited results, the bank has reported a YoY growth of 25.86 percent in gross business during FY 2020-21.
The lender witnessed a 28.04 pe cent year-on-year growth in total deposits to Rs 9,000 crore and advances surpassed Rs 8,413 crore, registering a growth of 23.61 percent, as on March 31, 2021.
Total business of the lender surpassed Rs 17,412 crore against Rs 13,835 crore in the year-ago period, stated the bank.
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