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ESAF Small Finance Bank Limited IPO Detail

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 DateNov 03, 2023
IPO Closing DateNov 07, 2023
Issue TypeBook Built Issue IPO
Face Value₹10 per equity share
IPO Price ₹57 - 60 per equity share
Market Lot250 Shares
Min Order Quantity250 Shares
Listing AtBSE, 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)

Day 1 0.95x 2.58x 2.11x 1.08x - 1.85x
Day 2 1.09x 21.27x 8.37x 2.54x - 8.79x
Day 3 182.66x 88.81x 17.86x 4.59x - 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 DateNov 03, 2023
IPO Close DateNov 07, 2023
Basis of Allotment DateNov 09, 2023
Initiation of RefundsNov 13, 2023
Credit of Shares to Demat AccountNov 15, 2023
IPO Listing DateNov 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).

ApplicationLotsSharesAmount (Cut-off)

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