ESAF Small Finance Bank raises Rs 4.64 bn via private placement of shares

With the infusion of additional capital, the net worth of the bank has increased to Rs 8.07 billion

ESAF Small Finance Bank has completed private placement of its common stock worth Rs 4.64 billion. 

PNB MetLife India Insurance Co Ltd, Bajaj Allianz Life Insurance Co Ltd and ICICI Lombard General Insurance Co Ltd, along with seven other investors, took a stake in the small finance bank.  

PNB MetLife India Insurance and ESAF Multi-State Co-operative took a stake of 4.99 per cent each in the bank. Bajaj Allianz Life Insurance and ICICI Lombard General Insurance picked up 4.08 per cent and 1.45 per cent stake, respectively. ICICI Securities Ltd served as the advisor for the private placement. Polymath Advisors, Mumbai, also