In a groundbreaking move, ESAF Small Finance Bank recently concluded its Initial Public Offering (IPO), garnering significant attention and demand from investors. Let’s delve into the details of this momentous event in the banking industry.
|IPO Date||November 3 – 7, 2023|
|Listing Date||Thursday, November 10, 2023|
|Face Value||₹10 per share|
|Price Band||₹57 to ₹60 per share|
|Lot Size||250 Shares|
|Total Issue Size||₹463.00 Cr)|
|Fresh Issue||₹390.70 Cr)|
|Offer for Sale||₹72.30 Cr|
|Allotment||Friday, November 9, 2023|
|Issue Type||Book Built Issue IPO|
|Employee Discount||Rs 5 per share|
|Listing At||BSE, NSE|
ESAF Small Finance Bank’s IPO
ESAF Small Finance Bank’s IPO, valued at Rs 463 crore, attracted widespread interest. The shares were priced between Rs 57 and Rs 60 each, making it an enticing opportunity for potential investors.
ESAF Small Finance Bank IPO Subscription Status
From November 3 to November 7, the IPO witnessed an overwhelming response. The total subscription reached a staggering 73.15 times, underscoring the high demand for ESAF Small Finance Bank shares. This enthusiastic participation is a testament to the bank’s strong financial standing and the trust it has garnered from the investment community.
ESAF Small Finance Bank IPO Allotment and Listing Date
On Thursday, November 9, the bank is slated to finalize the allotment of equity shares. This marks a crucial milestone for the bank and its investors as they await updates. Come Friday, November 10, ESAF Small Finance Bank will make its grand entrance on Dalal Street, a momentous occasion for the institution and the financial market.
Out of the total IPO amount, Rs 390.70 crore was generated through a fresh issue, while an offer-for-sale (OFS) of up to 6.51 crore shares contributed to the remaining funds. This allocation of funds reflects the bank’s strategic approach to fuelling its expansion and strengthening its market position.
How to Check ESAF Small Finance Bank IPO Allotment Status?
Investors who participated in the IPO can conveniently check their allotment status through the following steps:
- Visit the BSE website’s IPO application check page.
- Select ESAF Small Finance Bank Limited from the dropdown menu.
- Enter your application and PAN card numbers.
- Complete the ‘I am not a Robot’ verification.
- Hit the submit button.
Alternatively, utilize the online portal of Link Intime India, the issue’s registrar:
- Select ESAF Finance Bank in the dropdown menu.
- Input your PAN card number.
- Click ‘Search’ to retrieve the allotment status.
ESAF Small Finance Bank IPO Subscription Status
The robust demand across various investor categories showed the IPO’s success. Qualified institutional bidders (QIBs), non-institutional investors, retail investors, and employees subscribed 173.52 times, 84.37 times, 16.97 times, and 4.36 times, respectively. This diverse interest showcases the bank’s appeal across different investor segments and its ability to resonate with a broad spectrum of stakeholders.
ESAF Small Finance Bank IPO Grey Market Premium
Since the issue’s close, the grey market premium (GMP) for ESAF Small Finance Bank has remained steady. Currently, the bank commands a premium of Rs 21 per share, hinting at a potential listing pop of around 35 percent. This stability in the GMP underscores the sustained confidence and interest from investors even after the conclusion of the IPO.
ESAF Small Finance Bank: Empowering Rural India
ESAF Small Finance Bank focuses on providing financial solutions to rural and semi-urban customers. Its diverse product range, including micro loans, retail loans, MSME loans, loans to financial institutions, and agricultural loans, reflects its commitment to fostering economic growth. This strategic focus addresses a critical market need and positions the bank as a catalyst for inclusive economic development.
Nuvama Wealth Management, ICICI Securities, and DAM Capital Advisors spearheaded the IPO, with Link Intime India as the registrar. This collective endorsement from reputable brokerage firms further solidifies the bank’s standing in the eyes of the investment community.
Key IPO Details
The ESAF Small Finance Bank IPO, valued at Rs 463.00 crores, is a book-built issue. It comprises a fresh issue of 6.51 crore shares amounting to Rs 390.70 crores, alongside an offer for sale of 1.2 crore shares aggregating to Rs 72.30 crores. This detailed breakdown provides transparency regarding utilizing the funds raised through the IPO.
ESAF Small Finance Bank’s successful IPO marks a significant milestone in the banking sector. With its focus on rural and semi-urban customers, the bank is poised for further growth and success. This achievement reinforces the bank’s position in the financial landscape and sets a promising trajectory for its future endeavors.
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When will ESAF Small Finance Bank finalize the IPO allotment?
The allotment of equity shares is scheduled to be finalized on Thursday, November 10
What is the expected listing date for ESAF Small Finance Bank?
ESAF Small Finance Bank is set to make its debut on Dalal Street on Friday, November 16.
What was the subscription rate for different investor categories in the IPO?
The subscription rates for qualified institutional bidders (QIBs), non-institutional investors, retail investors, and employees were 173.52 times, 84.37 times, 16.97 times, and 4.36 times, respectively.
What is the minimum investment requirement for retail investors in the ESAF Small Finance Bank IPO?
Retail investors are required to make a minimum investment of ₹15,000 in the ESAF Small Finance Bank IPO.
I’m Archana R. Chettiar, an experienced content creator with
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