ESAF Small Finance Bank Limited IPO (ESAF Small Finance Bank IPO) Detail
ESAF Small Finance Bank IPO is a book built issue of Rs 463.00 crores. The issue is a combination of fresh issue of 6.51 crore shares aggregating to Rs 390.70 crores and offer for sale of 1.2 crore shares aggregating to Rs 72.30 crores.
ESAF Small Finance Bank IPO opens for subscription on November 3, 2023 and closes on November 7, 2023. The allotment for the ESAF Small Finance Bank IPO is expected to be finalized on Friday, November 10, 2023. ESAF Small Finance Bank IPO will list on BSE, NSE with tentative listing date fixed as Thursday, November 16, 2023.
ESAF Small Finance Bank IPO price band is set at ₹57 to ₹60 per share. The minimum lot size for an application is 250 Shares. The minimum amount of investment required by retail investors is ₹15,000. The minimum lot size investment for sNII is 14 lots (3,500 shares), amounting to ₹210,000, and for bNII, it is 67 lots (16,750 shares), amounting to ₹1,005,000.
The issue includes a reservation of up to 2,283,653 shares for employees offered at a discount of Rs 5 to the issue price.
ICICI Securities Limited, Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd) and Nuvama Wealth Management Limited are the book running lead managers of the ESAF Small Finance Bank IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to ESAF Small Finance Bank IPO RHP for detailed information.
ESAF Small Finance Bank IPO Details
| IPO Date | November 3, 2023 to November 7, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹57 to ₹60 per share |
| Lot Size | 250 Shares |
| Total Issue Size | 77,166,667 shares (aggregating up to ₹463.00 Cr) |
| Fresh Issue | 65,116,667 shares (aggregating up to ₹390.70 Cr) |
| Offer for Sale | 12,050,000 shares of ₹10 (aggregating up to ₹72.30 Cr) |
| Employee Discount | Rs 5 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 449,473,798 |
| Share holding post issue | 514,590,465 |
ESAF Small Finance Bank IPO Reservation
ESAF Small Finance Bank IPO offers 77,366,987 shares. 15,016,669 (19.41%) to QIB, 11,262,500 (14.56%) to NII, 26,279,167 (33.97%) to RII, 2,283,653 (2.95%) to employees and 22,524,998 (29.11%) to Anchor investors. 105,116 RIIs will receive minimum 250 shares and 1,072 (sNII) and 2,145 (bNII) will receive minimum 3,500 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 22,524,998 (29.11%) | NA |
| QIB Shares Offered | 15,016,669 (19.41%) | NA |
| NII (HNI) Shares Offered | 11,262,500 (14.56%) | |
| bNII > ₹10L | 7,508,333 (9.70%) | 2,145 |
| sNII < ₹10L | 3,754,167 (4.85%) | 1,072 |
| Retail Shares Offered | 26,279,167 (33.97%) | 105,116 |
| Employee Shares Offered | 2,283,653 (2.95%) | NA |
| Total Shares Offered | 77,366,987 (100%) |
ESAF Small Finance Bank IPO Anchor Investors Details
ESAF Small Finance Bank IPO raises Rs 135.15 crore from anchor investors. ESAF Small Finance Bank IPO Anchor bid date is November 2, 2023. ESAF Small Finance Bank IPO Anchor Investors list
| Bid Date | November 2, 2023 |
| Shares Offered | 22,524,998 |
| Anchor Portion Size (In Cr.) | 135.15 |
| Anchor lock-in period end date for 50% shares (30 Days) | December 27, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | March 20, 2024 |
ESAF Small Finance Bank IPO Timeline (Tentative Schedule)
ESAF Small Finance Bank IPO opens on November 3, 2023, and closes on November 7, 2023.
| 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 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.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 250 | ₹15,000 |
| Retail (Max) | 13 | 3250 | ₹195,000 |
| S-HNI (Min) | 14 | 3,500 | ₹210,000 |
| S-HNI (Max) | 66 | 16,500 | ₹990,000 |
| B-HNI (Min) | 67 | 16,750 | ₹1,005,000 |
ESAF Small Finance Bank IPO Promoter Holding
The Promoters of our Bank are Kadambelil Paul Thomas and ESAF Financial Holdings Private Limited.
Share Holding Pre Issue 74.43% Share Holding Post Issue 62.64%.
About ESAF Small Finance Bank Limited
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
ESAF Small Finance Bank Limited Financial Information (Restated)
ESAF Small Finance Bank Limited's revenue increased by 46.29% and profit after tax (PAT) rose by 452.39% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 20,795.94 | 20,223.66 | 17,707.56 | 12,338.65 |
| Revenue | 991.78 | 3,141.57 | 2,147.51 | 1,768.42 |
| Profit After Tax | 129.96 | 302.33 | 54.73 | 105.40 |
| Net Worth | 1,839.09 | 1,709.13 | 1,406.80 | 1,352.06 |
| Reserves and Surplus | 1,389.62 | 1,259.66 | 957.32 | 902.59 |
| Total Borrowing | 2,739.13 | 3,354.20 | 2,952.83 | 1,694.00 |
| Amount in ₹ Crore | ||||
Key Performance Indicator
ESAF Small Finance Bank IPO Market Cap is Rs 3087.54 Cr and P/E (x) is 8.94.
| KPI | Values |
|---|---|
| P/E (x) | 8.94 |
| Post P/E (x) | 5.94 |
| Market Cap (₹ Cr.) | 3087.54 |
| EPS (Rs) | 6.73 |
| RoNW | 17.69% |
Objects of the Issue (ESAF Small Finance Bank IPO Objectives)
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 IPO Subscription Status (Bidding Detail)
The ESAF Small Finance Bank IPO is subscribed 1.85 times on November 3, 2023 7:02:00 PM. The public issue subscribed 2.12 times in the retail category, 0.95 times in the QIB category, and 2.58 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 0.95 |
| NII | 2.58 |
| bNII (bids above ₹10L) | 2.11 |
| sNII (bids below ₹10L) | 3.52 |
| Retail | 2.12 |
| Employee | 1.09 |
| Total | 1.85 |
ESAF Small Finance Bank IPO Prospectus
ESAF Small Finance Bank Limited Contact Details
ESAF Small Finance Bank Limited
Building No. VII/83/8,
ESAF Bhavan, Thrissur-Palakkad National Highway,
Mannuthy, Thrissur 680 651
Phone: +91 487 7123 907
Email: investor.relations@esafbank.com
Website: https://www.esafbank.com/
ESAF Small Finance Bank IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: esaf.ipo@damcapital.in
Website: https://linkintime.co.in/mipo/ipoallotment.html
ESAF Small Finance Bank IPO FAQs
ESAF Small Finance Bank IPO is a main-board IPO of 77,166,667 equity shares of the face value of ₹10 aggregating up to ₹463.00 Crores. The issue is priced at ₹57 to ₹60 per share. The minimum order quantity is 250 Shares.
The IPO opens on November 3, 2023, and closes on November 7, 2023.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in ESAF Small Finance Bank IPO using UPI as a payment gateway. Zerodha customers can apply in ESAF Small Finance Bank IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in ESAF Small Finance Bank IPO through Zerodha
- Visit the Zerodha website and login to Console.
- Go to Portfolio and click the IPOs link.
- Go to the 'ESAF Small Finance Bank IPO' row and click the 'Bid' button.
- Enter your UPI ID, Quantity, and Price.
- ‘Submit’ IPO application form.
- Visit the UPI App (net banking or BHIM) to approve the mandate.
The ESAF Small Finance Bank IPO opens on November 3, 2023 and closes on November 7, 2023.
ESAF Small Finance Bank IPO lot size is 250 Shares, and the minimum amount required is ₹15,000.
The finalization of Basis of Allotment for ESAF Small Finance Bank IPO will be done on Friday, November 10, 2023, and the allotted shares will be credited to your demat account by Wednesday, November 15, 2023. Check the ESAF Small Finance Bank IPO allotment status.
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