ESAF Small Finance Bank expresses commitment for listing

Kerala-based ESAF Small Finance Bank has expressed its commitment for going public by listing its stock in line with the RBI's requirement and the money raised will help support the country's economy hit hard by the COVID-19 pandemic.

Currently, promoters and promoter group together hold 77.94 per cent stake in the bank, which commenced its operation in March 2017. Besides, SIDBI Trustee Company Ltd-A/C Samridhi Fund holds 12.24 per cent stake in the bank.

Speaking to PTI, ESAF Small Finance Bank Managing Director K Paul Thomas said, "We have got the approval from Sebi for the initial public offering only in March. We have time till March 2021 and we hope that things will be normal by that time."

Thomas, who holds 7.29 per cent stake in the bank in his individual capacity, said that making any prediction about the timeline at this point of time is difficult but going forward, things should improve.

In terms of the licensing guidelines, a small finance bank is required to list its ...