ESAF Bank files papers for Rs 998 crore IPO

Mumbai: ESAF Small Finance Bank filed its draft red herring prospectus with markets regulator on Monday for an IPO to raise about ₹998 crore. The issue comprises a fresh issue component of up to ₹800 crore and an offer for sale up to ₹198 crore by the promoter and other selling shareholders such as PNB MetLife India Insurance, Bajaj Allianz Life Insurance, PI Ventures LLP, and John Chakola. The company may consider a pre-IPO placement of up to ₹300 crore.