ESAF Small Finance Bank at its board meeting held on March 8, 2024 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 INR 1,350 million on a Private Placement basis.