ESAF Small Finance Bank to raise funds through Bonds issuance

The Thrissur-headquartered SFB has announced to raise the funds by issuing Tier II Bonds cumulatively to generate around Rs 135 crores.

ESAF Small Finance Bank to raise funds through Bonds issuance

According to the exchange filing of the company, it is stated that In according to Regulations 30 and 51 read with Schedule Ill of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is confirmed that, the Board of Directors of the Bank, in its meeting held on Friday, March 08, 2024, has considered and approved the proposal to raise funds by way of issuance of Listed, Rated, Taxable, Unsecured, Transferable, Redeemable, Fully Paid-Up, Basel II Compliant Lower Tier II Subordinated Bonds in the form of Non-Convertible Debentures (Tier II Bonds), aggregating upto Rs. 135 Crores (One Hundred and Thirty-Five Crores) on a Private Placement basis.

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ESAF Small finance Bank is an Indian Small finance bank located in Thrissur, Kerala, providing banking services and small loans to the underbanked. It received RBI approval to operate as a scheduled bank in December 2018. On 26 March 2020, the bank received approval from SEBI for issuing its Rs 976 crore initial public offering.

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