ESAF Small Finance Bank Limited IPO Detail
Incorporated in 1992, ESAF is a Small Finance Bank mainly focusing on providing loans to rural and semi-urban customers. The Bank's products consist of (a) Micro Loans, (b) retail loans, (c) MSME loans; (d) loans to financial institutions; and (e) agricultural loans. As of March 2023, Bank has a network of 700 outlets, 743 customer service centers, 20 business correspondents and 481 business facilitators. The Bank has 581 ATM's located across 21 states of India.
Bank offers convenience banking through various digital platforms such as an internet banking portal, a mobile banking platform, SMS alerts, bill payments and RuPay branded ATM cum debit cards.
As of 31st March 2022, the Bank has provided employment to 4100 people.
The core strength of the bank lies in the following:-
- In-depth knowledge of the Microloan segment helped ESAF to grow outside Kerela
- Strong presence in rural and semi-urban areas.
- Strong customer relationships driven by Bank's customer-centric products.
- Digital Technology platform for convenience banking
Company Promoters
IPO Details
| IPO Opening Date | Nov 03, 2023 |
| IPO Closing Date | Nov 07, 2023 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹57 - 60 per equity share |
| Market Lot | 250 Shares |
| Min Order Quantity | 250 Shares |
| Listing At | BSE, NSE |
| Issue Size | ₹463.00 Cr |
| Fresh Issue | ₹390.70 Cr |
| Offer for Sale | ₹72.30 Cr |
| Employee Discount | ₹Rs 5 per share |
| Retail Portion | - |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.95x | - | - | 2.58x | 2.11x | 1.85x |
| Day 2 | 1.09x | - | - | 21.27x | 8.37x | 8.79x |
| Day 3 | 182.66x | - | - | 88.81x | 17.86x | 77.00x |
IPO Tentative Timetable
The ESAF Small Finance Bank Limited IPO open date is Nov 03, 2023, and the close date is Nov 07, 2023. The issue may list on Nov 16, 2023.
| IPO Open Date | Nov 03, 2023 |
| IPO Close Date | Nov 07, 2023 |
| Basis of Allotment Date | Nov 09, 2023 |
| Initiation of Refunds | Nov 13, 2023 |
| Credit of Shares to Demat Account | Nov 15, 2023 |
| IPO Listing Date | Nov 16, 2023 |
IPO Lot Size
The ESAF Small Finance Bank Limited IPO market lot size is 250 shares. A retail-individual investor can apply for up to 13 lots (3250 shares or ₹195000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 250 | ₹15000 |
| Maximum | 13 | 3250 | ₹195000 |
Company Financials:
For the year/period ended (₹ in Cr.)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 12338.65 | 1768.42 | 105.40 |
| 31-Mar-22 | 17707.56 | 2147.51 | 54.73 |
| 31-Mar-23 | 20223.66 | 3141.57 | 302.33 |
Objects of the Issue:
The Net Proceeds are proposed to be utilized towards augmentation of the Bank's Tier-I capital base to meet the Bank's future capital requirements which are expected to arise out of growth in the Bank's assets, primarily the Bank's loans/advances and investment portfolio and to ensure compliance with regulatory requirements on capital adequacy prescribed by the RBI from time to time.
The Bank expects to receive the benefits of listing the Equity Shares on the Stock Exchanges.
ESAF Small Finance Bank Limited IPO Registrar:
Link Intime India Private Ltd
ESAF Small Finance Bank Limited IPO Lead Manager(s):
ICICI Securities Limited Dam Capital Advisors Ltd Nuvama Wealth Management Limited
Company Contact Information:
ESAF Small Finance Bank Limited
Building No. VII/83/8,
ESAF Bhavan, Thrissur-Palakkad National Highway,
Mannuthy, Thrissur 680 651
