IPO Details
Bidding Dates
02 Nov '23 - 06 Nov '23
Minimum Investment
₹15,000 / 1 Lots ( 250 Shares )
Price Range
₹57 - ₹60
Maximum Investment
₹195,000 / 13 Lots ( 3250 Shares )
Retail Discount
Not Applicable
Issue Size
₹463.00 Cr
Investor category and sub category
Qualified Institutional Buyers | Non-Institutional Investors | Retail Individual Investors |IPO Dates
Important dates with respect to IPO allotment and listing
IPO Opening Date
Nov 2, 2023
IPO Closing Date
Nov 6, 2023
Basis of Allotment
Nov 9, 2023
Initiation of Refunds
Nov 12, 2023
Credit of Shares to Demat Account
Nov 14, 2023
IPO Listing Date
Nov 15, 2023
UPI Mandate Confirmation
Nov 6, 2023
ESAF Small Finance Bank IPO Subscription Details
Date | QIB | NII | Retail | EMP | Total |
---|---|---|---|---|---|
Day 1Nov 2, 2023 |
0.95x | 2.58x | 2.12x | 1.09x | 1.85x |
Day 2Nov 5, 2023 |
1.09x | 21.27x | 8.37x | 2.54x | 8.79x |
Day 3Nov 6, 2023 |
182.66x | 88.81x | 17.86x | 4.59x | 77.00x |
ESAF Small Finance Bank IPO Subscription Live Status
Investor Category | Subscription (Times) |
---|---|
Qualified Institutions Buyers | 182.66 |
Non-Institutional Buyers | 88.81 |
Retail Investors | 17.86 |
Employees | 4.59 |
Total | 77.00 |
About ESAF Small Finance Bank Ltd.
Incorporated in 1992, ESAF is a Small Finance Bank mainly focusing on providing loans to rural and semi-urban customers. The primary products of the company are advances (asset products) and deposits (liability products). The advances products comprise micro Loans, retail loans, MSME loans, loans to financial institutions, and agricultural loans. ESAF’s liability products comprise current accounts, savings accounts, term deposits and recurring deposits.
As of June 30, 2023, the company has a network of 700 banking outlets, 767 customer service centres, 22 business correspondents, 2,116 banking agents, 525 business facilitators and 559 ATMs spread across 21 states and 2 union territories.
The company believes that the growth drivers, such as customised products aided by technology and information availability, as well as funds at cheaper rates, are likely to aid the growth of the overall industry. Small Finance Bank’s (SFBs) AUM is likely to grow at CAGR in the range of ~22-24% during 2023-2035 as most SFBs have finished the transition phase and are likely to benefit from their operating leverage.
ESAF Small Finance Bank Limited IPO Details
ESAF Small Finance Bank Limited IPO Date
ESAF Small Finance Bank Limited's IPO is a mix of fresh issue and offer for sale (OFS). The company is likely to raise ₹390.70 Cr from fresh issue and ₹72.30 Cr from the OFS. ESAF Small Finance Bank Limited’s IPO will be listed on the BSE and NSE on November 16, 2023. It is a book-built issue IPO.
ESAF Small Finance Bank Limited IPO Price Band
The price range of the IPO has ₹57 - ₹60.
ESAF Small Finance Bank Limited IPO Lot Size
The ESAF Small Finance Bank Limited IPO lot size is 250 Shares. .
ESAF Small Finance Bank Limited IPO Objectives
The objectives of the offer are listed below:
- The fresh issue proceeds will be used to augment the bank’s Tier–I capital base to meet future capital requirements and to increase the bank’s business.
- Proceeds from the OFS will go to selling shareholders.
Peer Details
As per DRHP, ESAF Small Finance Bank Limited has six listed peers:
- Suryoday Small Finance Bank Limited.
- CreditAccess Grameen Limited.
- Spandana Sphoorty Financial Limited
- Bandhan Bank Limited
- Ujjivan Small Finance Bank Limited
- Equitas Small Finance Bank Limited
How To Check the Allotment Status of the ESAF Small Finance Bank Limited IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the IPO Section and then to IPO Orders
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of ESAF Small Finance Bank Limited
Registered office: Building No. VII/83/8, ESAF Bhavan, Thrissur-Palakkad National Highway, Mannuthy, Thrissur 680 651, Kerala, India
Phone: +91 487 7123 907
E-mail: investor.relations@esafbank.com
Company Financials
Particulars | Period Ending on march 31, 2021 ( ₹ Cr. ) | Period Ending on June 30, 2023 ( ₹ crore ) | Period Ending on March 31, 2023 ( ₹ Cr. ) | Period Ending on march 31, 2022 ( ₹ Cr. ) |
---|---|---|---|---|
Total Income | 1,768.42 | 991.78 | 3,141.57 | 2,147.51 |
Profit After Tax (PAT) | 105.40 | 129.96 | 302.33 | 54.73 |
Assets | 12,338.65 | 20,795.94 | 20,223.66 | 17,707.56 |
Total Borrowings | 1,694.00 | 2,739.13 | 3,354.20 | 2,952.83 |
Know before investing
Strengths
2-
The company is mainly focused on providing loans to rural and semi-urban customers. As a result, the company witnessed a notable growth in the number of customers to 3.93 million as of March 31, 2023,
-
ESAF is optimistic about the growth opportunities in rural centres in India as they have lower financial inclusion than urban areas. There is thus less competition for banking services in rural centres compared with urban centres.
Risks
2-
The company is exposed to risk arising from failure by customers in the repayment of loans, and as a result, there could be an increase in NPAs, and financial performance could be impacted.
-
The company operates in an industry which is highly regulated due to the involvement of money. Any failure in compliance could lead the business to penalties, fines, etc.
Over-Subscribed77 times
Login to Angel One App / Website & click on IPO
Select desired IPO & tap on "Apply"
Enter UPI ID, set quantity/price & submit
Accept mandate on the UPI app to complete the process
Over-Subscribed77 times
Login to Angel One App / Website
Choose IPO section on Home Page
Click IPO Orders
Chose the IPO application you want to view the status for
ESAF Small Finance Bank IPO FAQs
ESAF Small Finance Bank Limited’s IPO is a mix of fresh issue and offer for sale (OFS). The company is likely to raise ₹390.70 Cr from fresh issue and ₹72.30 Cr from the OFS.
The Basis of Allotment will be on November 10, 2023.
The IPO subscription window will open on November 03, 2023.
Retail investors can apply for a minimum of one, and the lot size is yet to be decided.
ESAF Small Finance Bank Limited IPO will be listed on BSE and NSE. The date of listing is November 16, 2023.
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the IPO Section and then to IPO Orders
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Listing gains cannot be ascertained before listing the IPO on the stock exchange.
Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.