Wednesday, 10 October 2018

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

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 stake in the Small Finance Bank.PNB MetLife India Insurance Co Ltd 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 associated with ESAF SFB in these transactions. With the infusion of additional capital the net worth of the bank has increased to Rs 8.07 billion and the CRAR to 27.9 percent. The proceeds from the private placements will be used for general corporate purposes, capital management and to support future growth. ESAF has collected Rs 3 billion worth deposits in the ...

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Goldprice dips Rs 10 to Rs 62,720, silver falls Rs 100 to Rs 74,900

The price of 22-carat gold also fell Rs 10 with the yellow metal selling at Rs 57,490 from Markets https://ift.tt/rpZGNwM