Kolkata-based ESAF Small Finance Bank has filed papers with the Securities & Exchange Board of India (Sebi) to raise ₹629 crore through an initial public offering (IPO). The bank has focused on serving unbanked and under-banked customer segments. This is the third time the bank is seeking Sebi’s approval for an IPO, having previously received approvals in March 2020 and July 2021. The present IPO will include a fresh issue of up to ₹487 crore and an offer for sale of up to ₹142 crore. ESAF Financial Holdings, the bank’s promoter, may sell equity shares worth ₹119.26. PNB MetLife India Insurance Company and Bajaj Allianz Life Insurance are also looking to sell shares valued at up to ₹12.67 crore and ₹10.37 crore, respectively. The bank’s previous IPO approvals lapsed due to not exercising them within a year.