According to the unaudited results, the bank achieved an annual growth (year-on-year) of 25.86% of its gross business in fiscal year 21.According to the unaudited results, the bank achieved an annual growth (year-on-year) of 25.86% of its gross business in fiscal year 21.

The ESAF Small Finance Bank announced on Friday that it had raised Rs 162 crore through the preferential allocation of shares. A total of 2.18 crore shares was allocated to certain HNI class investors, including some existing investors, leading to a dilution of around 5%, at Rs 75 per share.

The shares were valued at 2.64 times before issuance and 2.45 times after issuance of their book value as of September 30, 2020, ESAF sources said.

“The additional capital raised will strengthen capital adequacy by around 250 basis points and support our ambitious growth plan set out for fiscal year 22. The overwhelming response from our investors in these difficult times gives us the confidence to go big.” . Given the comfortable capital position and the moderate market outlook for BFSI shares, we have decided to postpone the IPO scheduled for the last fiscal year, ”said K Paul Thomas, Managing Director and CEO. The bank has reported tremendous growth in these difficult times, he added.

According to the unaudited results, the bank achieved 25.86% year-on-year growth (year-on-year) in its gross business in fiscal year 21. It reported a 28.04% year-on-year increase in total Deposits at Rs 9,000 crore and advances crossed Rs 8,413 crore with a growth of 23.61% as of March 31, 2021. Total business crossed Rs 17,412 crore, against Rs 13,835 crore last year period. “The results show our commitment to our stakeholders. We are also grateful for the resilience shown by our customers, ”said Thomas. He added that CASA’s growth was impressive at 82%, thanks to the targeted strategies adopted by the bank.

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