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 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. 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.
| IPO Opening Date | November 3, 2023 |
|---|---|
| IPO Closing Date | November 7, 2023 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per share |
| IPO Price | ₹57 to ₹60 per share |
| Market Lot | 250 Shares |
| Min Order Quantity | 250 Shares |
| Listing At | BSE, NSE |
| Employee Discount | ₹5 per share |
| 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) |
| Share holding pre issue | 449,473,798 |
| Share holding post issue | 514,590,465 |
| QIB Shares Offered | Not more than 50% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
ESAF Small Finance Bank IPO opens on November 3, 2023, and closes on November 7, 2023.
| Basis of Allotment Date | November 10, 2023 |
|---|---|
| Initiation of Refunds | November 13, 2023 |
| Credit of Shares to Demat Account | November 15, 2023 |
| IPO Listing Date | November 16, 2023 |
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 |
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.
As of June 30, 2023, the company's product portfolio includes baby care, face care, body care, hair care, color cosmetics, and fragrances.
The core strength of the bank lies in the following:
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 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.
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.
You can apply in ESAF Small Finance Bank IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services.
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 IPO allotment status.
The ESAF Small Finance Bank IPO listing date is November 16, 2023.
To Bid online, you need
Demat Account and Pan card.
Login to SMC account and
select the ESAF Small Finance Bank IPO
Enter UPI Id & Mobile number
Place your number of bids
with the exchange
A UPI mandate is sent to your
UPI App to block your funds.