ESAF Bank IPO: ESAF Small Finance Bank Limited IPO Details

ESAF Small Finance Bank IPO is set to make waves in the Indian financial market. This article will provide you with a comprehensive insight into the key details, objectives, and what makes ESAF Small Finance Bank a noteworthy player in the banking sector.

Also Read: ESAF Bank IPO GMP

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Understanding the ESAF Small Finance Bank IPO

ESAF Small Finance Bank’s initial public offering (IPO) is a book-built issue with a total value of ₹463.00 crores. This IPO comprises a fresh issue of ₹390.70 crores and an offer for sale of ₹72.30 crores. The subscription for ESAF Small Finance Bank IPO opens on November 3, 2023, and closes on November 7, 2023. The allotment date is expected to be November 10, 2023, with a tentative listing date on November 16, 2023.

Also Read: ESAF Small Finance Bank IPO Worth ₹463 Crore to Open on November

ESAF Bank IPO Details

IPO NameESAF Small Finance Bank
IPO DateNovember 3, 2023, to November 7, 2023
Basis of AllotmentFriday, November 10, 2023
Listing DateNovember 16, 2023
Face Value₹10 per share
Price Range₹57 to ₹60 per share
Lot Size250 shares
Total Issue Size77,166,667 shares
(aggregating up to ₹463.00 Cr)
Fresh Issue65,116,667 shares
(aggregating up to ₹390.70 Cr)
Offer for Sale12,050,000 shares of ₹10
(aggregating up to ₹72.30 Cr)
Issue TypeBook Built Issue IPO
Listing AtBSE, NSE
Shareholding Pre-Issue449,473,798 shares

Also Read : All Upcoming IPOs

ESAF Small Finance Bank IPO Lot Size

Investors can bid for a minimum of 250 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

ApplicationLotsSharesAmount
Retail (Min)1250₹15,000
Retail (Max)133250₹195,000
S-HNI (Min)143,500₹210,000
S-HNI (Max)6616,500₹990,000
B-HNI (Min)6716,750₹1,005,000

ESAF Small Finance Bank IPO Reservation

  • QIB Shares Offered: Not more than 50% of the Net Issue
  • Retail Shares Offered: Not less than 35% of the Net Issue
  • NII (HNI) Shares Offered: Not less than 15% of the Net Issue

ESAF Small Finance Bank IPO Objectives

The net proceeds from this IPO will be utilized for augmenting the bank’s Tier-I capital base, ensuring compliance with regulatory capital adequacy requirements set by RBI, and preparing for the bank’s expected future capital requirements due to asset growth, primarily in loans and investments.

The bank also expects to benefit from listing its equity shares on the stock exchanges.

ESAF Small Finance Bank IPO Timeline

  • IPO Open Date: Friday, November 3, 2023
  • IPO Close Date: Tuesday, November 7, 2023
  • Basis of Allotment: Friday, November 10, 2023
  • Initiation of Refunds: Monday, November 13, 2023
  • Credit of Shares to Demat: Wednesday, November 15, 2023
  • Listing Date: Thursday, November 16, 2023
  • Cut-off time for UPI mandate confirmation: 5 PM on November 7, 2023

ESAF Small Finance Bank Limited Financial Information

ESAF Small Finance Bank Limited has shown impressive financial growth. Its revenue increased by 46.29%, and profit after tax (PAT) saw a remarkable rise of 452.39% between the financial years ending on March 31, 2023, and March 31, 2022.

Period Ended30 Jun 202331 Mar 202331 Mar 202231 Mar 2021
Assets20,795.9420,223.6617,707.5612,338.65
Revenue991.783,141.572,147.511,768.42
Profit After Tax129.96302.3354.73105.40
Net Worth1,839.091,709.131,406.801,352.06
Reserves and Surplus1,389.621,259.66957.32902.59
Total Borrowing2,739.133,354.202,952.831,694.00
Amount in ₹ Crore
Line Graphs

About ESAF Small Finance Bank Limited

Founded in 1992, ESAF Small Finance Bank primarily focuses on providing financial services to rural and semi-urban customers. The bank’s product portfolio includes micro loans, retail loans, MSME loans, loans to financial institutions, and agricultural loans. As of March 2023, the bank boasts a network of 700 outlets, 743 customer service centers, 20 business correspondents, and 481 business facilitators, with 581 ATMs across 21 states in India.

ESAF Small Finance Bank also offers convenient banking through digital platforms, including internet banking, a mobile banking platform, SMS alerts, bill payments, and RuPay-branded ATM cum debit cards. As of March 31, 2022, the bank has provided employment to 4,100 people.

The core strengths of the bank include:

  1. In-depth knowledge of the Microloan segment: ESAF’s expertise has helped it grow beyond its home state of Kerala.
  2. Strong presence in rural and semi-urban areas: The bank’s focus on these underserved regions aligns with financial inclusion goals.
  3. Strong customer relationships: The bank offers customer-centric products and services, building trust and loyalty.
  4. Digital technology platform: Convenient and accessible banking through digital channels.

ESAF Small Finance Bank IPO Registrar

The registrar for ESAF Small Finance Bank IPO is Link Intime India Private Ltd. You can reach them at +91-22-4918 6270 or email at [email protected]. You can also check the IPO allotment status on their website: Link Intime IPO Allotment.

ESAF Small Finance Bank IPO Lead Managers

The lead managers for the IPO are:

  1. ICICI Securities Limited
  2. Dam Capital Advisors Ltd (Formerly IDFC Securities Ltd)
  3. Nuvama Wealth Management Limited

In conclusion, the ESAF Small Finance Bank IPO presents an exciting opportunity for investors to participate in the growth of a bank with a strong presence in rural and semi-urban areas and a focus on financial inclusion. Before investing, it’s essential to carefully consider the IPO prospectus and consult with financial experts to make informed decisions.

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