ESAF Bank IPO GMP: ESAF Small Finance Bank IPO GMP

ESAF Small Finance Bank IPO GMP: The IPO market is buzzing with excitement as ESAF Small Finance Bank Limited gears up for its Mainboard IPO on the BSE and NSE exchanges. With a total issue size of Rs 629.04 Crores, comprising both fresh and Offer For Sale (OFS) issues, the anticipation is palpable. In this blog, we’ll delve into the Grey Market Premium Today (GMP) for ESAF Bank’s IPO, offering insights into this unofficial market’s dynamics.

Also Read: All IPO Review- Apply or Not?

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ESAF Bank IPO GMP

[Last Updated: 10-Nov-2023; 09:36] Let’s take a look at the latest GMP figures for the ESAF Small Finance Bank IPO:

GMP DateIPO PriceGMPSub2 Sauda RateEstimated Listing Price
10-11-2023₹60163000/42000₹76 (26.67%)
09-11-2023₹60163400/47600₹76 (26.67%)
08-11-2023₹60214000/56000₹81 (35.00%)
07-11-2023₹60214000/56000₹81 (35.00%)
06-11-2023₹60193600/50400₹79 (31.67%)
05-11-2023₹60203800/53200₹80 (33.33%)
04-11-2023₹60203800/53200₹80 (33.33%)
03-11-2023₹60203800/53200₹80 (33.33%)
02-11-2023₹60224200/58800₹82 (36.67%)
01-11-2023₹6091700/23800₹69 (15.00%)
31-10-2023₹6091700/23800₹69 (15.00%)
30-10-2023₹ (0%)

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

Understanding ESAF Small Finance Bank IPO GMP

What is GMP?

The Grey Market Premium (GMP) is essentially the unofficial price at which an IPO is traded before its official listing on the stock exchanges. It’s important to note that the GMP operates in an unregulated and informal market and serves as a gauge of market sentiment towards the IPO. A positive GMP suggests that the IPO may debut with a premium, while a negative GMP implies that the IPO could list at a discount.

The Dynamic Nature of GMP

It’s crucial to recognize that GMP is subject to extreme volatility. It can change rapidly in response to market conditions, investor sentiment, and other external factors. Thus, making investment decisions based solely on GMP can be risky.

These figures highlight the absence of any substantial GMP movement as of the most recent update.

A Closer Look at ESAF Small Finance Bank

Before we dive deeper into the IPO details, let’s acquaint ourselves with ESAF Small Finance Bank:

Company Overview

ESAF Small Finance Bank Limited was established in 2016 with a strong focus on unbanked customers, particularly in rural and semi-urban areas. The bank’s promoters bring over 27 years of experience in serving unbanked and underserved clients, emphasizing financial inclusion.

As a Small Finance Bank, ESAF is mandated to allocate at least 75.00% of their adjusted net loan volume to the priority sector. The bank’s core principles include responsible banking and providing customer-centric products and services through innovative technology.

Network and Technology

ESAF boasts an extensive network of 700 banking offices, 743 customer service centers, and numerous other touchpoints, serving over 6.83 million customers in 21 states and two union territories by March 31, 2023. The bank relies heavily on technology, implementing digitized processes for microloans and offering advanced digital technology platforms.

Strengths

Some of the bank’s key strengths include:

  • Deep understanding of the microloan segment, facilitating business growth outside its home state of Kerala.
  • A strong presence in rural and semi-urban areas.
  • A fast-growing retail deposit portfolio with low concentration risk.
  • A technology-driven model with advanced digital technology platforms.
  • An experienced board and key management personnel.

IPO Details

Here are the important dates for ESAF Small Finance Bank’s IPO:

  • IPO Open Date: 03-11-2023
  • IPO Close Date: 07-11-2023
  • Basis of Allotment Finalization Date: 10-11-2023
  • Refunds Initiation: 13-11-2023
  • Credit of Shares to Demat Account: 15-11-2023
  • IPO Listing Date: 16-11-2023

In conclusion, the ESAF Small Finance Bank IPO is generating a lot of buzz in the market, and the GMP indicates cautious optimism. However, potential investors should approach this with due diligence and consider all relevant factors before making an investment decision. IPOs can be lucrative, but they come with their share of risks, and it’s essential to assess them prudently. The official listing date on November 16, 2023, will reveal the true market sentiment and the IPO’s performance. Stay tuned for more updates on this exciting financial event.

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