ESAF Small Finance Bank (SFB) said that its board has approved to raise bonds worth Rs 135 crore on private placement basis.
The bank will issue 13,500 listed rated, taxable, unsecured, transferable, redeemable, fully paid-up, Basel ll compliant lower tier ll subordinated bonds in the form of non-convertible debentures (tier ll bonds), aggregating upto Rs 135 crore on private placement basis.In series 3A, issue size of the debentures will be Rs 85 crore with the tenure of 73 months and interest rate will be 11% which shall be paid semi annually.
Consequently, in series 3B, issue size of the debentures will be 50 crore with tenure of 85 months and interest rate will be 11.10% which shall be paid semi annually.
ESAF Small Finance Bank primarily focus on expanding the banking horizon to new unbanked and underbanked area, yet bank stand with for all with presence in urban, semi urban, rural and rural unbanked areas.
The companys standalone net profit stood at Rs 112.14 crore, steeply higher than Rs 37.41 crore in Q3 FY23. Total income jumped 39.9% to Rs 1094.35 crore in Q3 FY24 as compared with Rs 782.19 crore in Q3 FY23.
The scrip declined 1.25% to end at Rs 59.49 on Monday, 11 March 2024.
Powered by Capital Market - Live News