ESAF Small Finance Bank IPO Review, Dates, Allotment, Size, Live Bid Details, GMP & RHP
Last Updated Date: Nov 09, 2023ESAF Small Finance Bank’s journey toward its Initial Public Offering (IPO) marks a significant milestone in its growth and expansion plans.
With the submission of the Draft Red Herring Prospectus (DRHP) to SEBI, the bank is set to offer fresh shares and provide existing shareholders an opportunity to divest.
The bank is set to make its mark in the financial market with an IPO scheduled from November 3 to November 7, 2023. Priced in the range of Rs 57 to Rs 60 per share with a face value of Rs 10, this IPO offers a lot size of 250 shares.
This blog provides an overview of the ESAF Small Finance Bank IPO, including key information on pricing, share offerings, promoters, and the importance of staying updated with the latest news.
| Face Value | Rs 10 |
| Price Band | Rs 57 to Rs 60 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 250 Shares |
| Listing Date | November 16, 2023 |
| Offer for Sale | Rs 72.30 Crore |
| Fresh Issue | Rs 390.70 Crore |
| IPO Size | Rs 463.00 Crore |
| Tick Size | 1 |
ESAF Small Finance Bank IPO Overview
ESAF Small Finance Bank is set to launch its IPO from November 3, 2023, to November 7, 2023. The face value of each share is Rs 10, with a price band ranging from Rs 57 to Rs 60 per share.
The lot size is 250 shares, and the total issue size will be disclosed later, aiming to raise Rs 463.00 Cr. This includes a fresh issue of Rs 390.70 Cr and an offer for sale of Rs 72.30 Cr. Employees can enjoy a discount of Rs 5 per share.
The IPO is of the Book Built Issue type and will be listed on both BSE and NSE. The pre-issue and post-issue shareholdings stand at 449,473,798 and 514,779,858, respectively.
ESAF Small Finance Bank IPO Important Dates
| Events | Date |
| IPO Opening Date | November 3, 2023 |
| IPO Closing Date | November 7, 2023 |
| Basis of Allotment Finalization | November 10, 2023 |
| Refunds Initiation | November 13, 2023 |
| Credit of Shares to Demat Account | November 15, 2023 |
| Share Listing Date | November 16, 2023 |
ESAF Small Finance Bank’s IPO important dates are as follows: The IPO is set to commence on Friday, November 3, 2023, and will close on Tuesday, November 7, 2023.
Investors can anticipate the announcement of the Basis of Allotment on Friday, November 10, 2023, followed by the initiation of refunds on Monday, November 13, 2023. On Wednesday, November 15, 2023, the credited shares will be available in Demat accounts.
The eagerly awaited listing of the bank’s shares is scheduled for Thursday, November 16, 2023. Investors must be aware of these dates and the 5 PM cutoff time for UPI mandate confirmation on November 7, 2023, to participate effectively in the IPO.
ESAF Small Finance Bank IPO Price, Size, Share Offerings
| Face Value | Rs 10 |
| Price Band | Rs 57 to Rs 60 |
| Offer for Sale | Rs 72.30 Crore |
| Fresh Issue | Rs 390.70 Crore |
| IPO Size | Rs 463.00 Crore |
ESAF Small Finance Bank’s IPO, running from November 3 to November 7, 2023, offers shares at Rs 10 face value within a price band of Rs 57 to Rs 60 per share.
The total issue size is Rs 463.00 Cr, with a Rs 390.70 Cr fresh issue and Rs 72.30 Cr offer for sale. Employees enjoy a Rs 5 discount per share. It’s a Book Built Issue IPO listed on BSE and NSE. Pre-issue shareholding is 449,473,798, expected to rise to 514,779,858 post-issue.
Investors can participate with a minimum lot of 250 shares. Retail investors can invest between Rs 15,000 and Rs 195,000, S-HNIs between Rs 210,000 and Rs 990,000, and B-HNIs starting at Rs 1,005,000.
ESAF Small Finance Bank IPO Grey Market Premium
| Date | GMP (Rs.) | Kostak Rate (Rs.) | Subject to Sauda (Rs.) |
| 09 Nov 2023 | Rs 20 | NA | NA |
| 08 Nov 2023 | Rs 20 | NA | NA |
| 07 Nov 2023 | Rs 20 | NA | NA |
| 06 Nov 2023 | Rs 20 | NA | NA |
| 05 Nov 2023 | Rs 20 | NA | NA |
| 03 Nov 2023 | Rs 20 | NA | NA |
| 02 Nov 2023 | Rs 10 | NA | NA |
| 01 Nov 2023 | Rs 10 | NA | NA |
ESAF Small Finance Bank IPO GMP is currently Rs 20, as of the last update on November 1, 2023, at 10:56 AM. With the IPO’s price band set at Rs 60.00, this suggests an estimated listing price of Rs 69 for ESAF Small Finance Bank’s shares, which is calculated by adding the cap price to today’s GMP.
This translates to an expected percentage gain/loss per share of 15.00%. The GMP is a reflection of the market sentiment and investor expectations, providing insights into the potential performance of the IPO once it is listed on the stock exchanges.
ESAF Small Finance Bank IPO Subscription Status
| Day / Date | QIB | NII | RII | Emp | Total Subscription |
| 1st Day – 3rd Nov | 0.95x | 2.58x | 2.12x | 1.09x | 1.85x |
| 2nd Day – 6th Nov | 1.09x | 21.27x | 8.37x | 2.54x | 8.79x |
| 3rd Day – 7th Nov | 182.66x | 88.81x | 17.86x | 4.59x | 77.00x |
| Shares Offered or Net Issue | 15,016,669 | 11,262,500 | 26,279,167 | 2,283,653 | 77,366,987 |
As of the latest available information, their data will be available shortly regarding the ESAF Small Finance Bank IPO Subscription.
Investors are advised to stay tuned for updates on the subscription figures, which will provide insights into the level of interest and demand for this IPO.
ESAF Small Finance Bank IPO Allotment Status
As of now, their data will be available shortly regarding the ESAF Small Finance Bank IPO Allotment. Investors are encouraged to stay tuned for updates, as this crucial information will determine their share allocation in this groundbreaking IPO, which signifies a significant step in India’s renewable energy landscape.
ESAF Small Finance Bank IPO Live Performance
ESAF Small Finance Bank IPO Share Price is currently not available as there is no data accessible at this time. Investors and analysts may need to wait for further updates and trading activity to gauge the IPO’s real-time performance in the stock market.
Monitoring the live performance can provide valuable insights into how the shares are faring after listing and how investor sentiment evolves.
Subscribe to ESAF Small Finance Bank IPO – Open Free Demat Account Now!
Latest ESAF Small Finance Bank IPO News
As of the current update, there is no latest news available regarding the Indian Renewable Energy Development Agency (IREDA) IPO.
The anticipated IPO marks a pivotal moment in India’s renewable energy landscape, but specific developments and announcements are awaited.
Potential investors and stakeholders are eagerly monitoring the Indian Renewable Energy IPO News for updates on this transformative event in the renewable energy sector.
ESAF Small Finance Bank – Company Review
ESAF Small Finance Bank is a prominent small finance bank in India. Established in 2016 as ESAF Microfinance and Investments Private Limited, it has grown into a full-fledged small finance bank.
The bank focuses on serving the unbanked and underbanked populations, particularly in rural and semi-urban areas.
The bank operates through a widespread network of branches and banking outlets across multiple states in India. It has garnered a strong customer base and is known for its customer-centric approach, transparent practices, and dedication to social responsibility.
ESAF Small Finance Bank is guided by core values of ethics, integrity, and transparency. It has received recognition and awards for its efforts in advancing financial inclusion and contributing to the sector’s development.
With a mission to provide inclusive financial services and support economic growth, ESAF Small Finance Bank continues to expand and evolve.
Its customer-centric approach and commitment to social empowerment are aimed at making a positive and lasting impact on the lives of individuals and communities throughout India.
Products or Services
Following are the products and services offered by ESAF Small Finance Bank:
- Savings accounts
- Current accounts
- Fixed deposits
- Loans (personal, business, and MSME)
- Microfinance services
- Insurance products
- Payment services (NEFT, RTGS, IMPS, UPI)
- Additional services (foreign exchange, digital banking solutions)
Promoters and Holding
ESAF Small Finance Bank has Promoters and a Promoter Group holding a significant portion of the pre-offer equity share capital. The Promoters, including the Corporate Promoter and Kadambelil Paul Thomas, collectively hold 69.40% of the pre-offer equity share capital.
The Promoter Group, led by ESMACO, holds 5.03%. Additionally, the Selling Shareholders, such as PNB MetLife, Bajaj Allianz Life, PI Ventures, and John Chakola, hold smaller percentages.
The combined shareholding of Promoters, Promoter Group, and Selling Shareholders represents 74.43% of the pre-offer equity share capital. These figures reflect the ownership distribution within ESAF Small Finance Bank.
Is ESAF Small Finance Bank Good for Investment?
ESAF Small Finance Bank, founded in 2016, is a leading small finance bank known for its strong growth and large client base.
It specializes in serving underserved communities and offers a range of financial services, including third-party insurance, government pension products, and NRI banking. With 550 branches, 327 ATMs, and 4.68 million customers as of May 2021, the bank has expanded significantly.
ESAF Small Finance Bank is committed to uplifting marginalized communities by providing access to financial services, healthcare, education, and livelihood opportunities.
Its holistic programs encompass integrated child development, micro-enterprise support, healthcare, and natural resource management. The bank’s dedication to social impact and inclusive growth can contribute to a successful ESAF Small Finance Bank IPO.
ESAF Small Finance Bank Financial Statements
| Amount (in INR & Million) | |||||
| 30-Jun-23 | 30-Jun-22 | 31-Mar-23 | Mar-22 | 31-Mar-21 | |
| Assets | 2,07,959.41 | 1,81,041.01 | 2,02,236.57 | 1,77,075.64 | 1,23,386.52 |
| Revenue | 9,917.75 | 7,383.24 | 31,415.72 | 21,475.08 | 17,684.21 |
| Expense | 8,618.1 | 6,323.58 | 28,392.39 | 20,927.76 | 16,630.25 |
| Profit After Tax | 6,719.86 | 4,274.62 | 6,238.29 | 3,609.75 | 3,325.92 |
ESAF Small Finance Bank’s financial assessment, based on Restated Financial Information as of March 31, 2021, reveals encouraging trends.
The bank’s capital grew steadily to Rs 4,494.74 million, while its net worth increased to Rs 13,520.64 million, demonstrating improved financial stability. The net asset value per Equity Share also rose to Rs 30.08.
In terms of borrowings, the bank secured Rs 16,940.00 million, showcasing its ability to source funds for operations.
Total income displayed consistent growth, reaching Rs 17,672.77 million in 2021, compared to Rs 15,464.35 million in 2020 and Rs 11,407.89 million in 2019. However, net profit declined in 2021, with figures of Rs 1,053.96 million compared to Rs 1,903.90 million in 2020.
Earnings per Equity Share (basic and diluted) for 2021 were Rs 2.46, a decrease from Rs 4.45 in 2020. To gain a comprehensive view, it’s recommended to analyze complete financial statements, including the income statement, balance sheet, cash flow statement, and relevant financial ratios and indicators.
| Earnings per Equity Share (in Million) | |||||
| 30-Jun-23 | 30-Jun-22 | 31-Mar-23 | Mar-22 | 31-Mar-21 | |
| Basic & Diluted | 2.89 | 2.36 | 6.73 | 1.22 | 2.46 |
ESAF Small Finance Bank IPO Review
ESAF Small Finance Bank’s upcoming IPO, scheduled from November 3 to November 7, 2023, showcases promising elements. With a face value of Rs 10 per share and a price band of Rs 57 to Rs 60, the IPO offers a fair price range. The lot size of 250 shares accommodates various investor types.
The bank’s financial health, growth in capital, and steady net worth indicate potential. The IPO’s fresh issue and offer for sale provide opportunities, with notable stakeholders divesting, adding to its credibility. However, current GMP information is positive.
As investors await the subscription and allotment details, the bank’s mission to uplift underserved communities resonates with the broader investment landscape.
ESAF Small Finance Bank IPO Details
Here are few more details you need to know before investing in ESAF Small Finance Bank IPO –
ESAF Small Finance Bank IPO Issue Object
Thus ESAF Small Finance Bank has proposed diverse objectives for making the IPO offer and some of the objectives are:
- Funding organic growth initiatives
- Expanding Network Structures
- Building scales in existing business lines and developing new adjacent business lines
- Upgrading Logistics Operating System
- And for other corporate purposes
ESAF Small Finance Bank IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Our understanding of the micro loan segment, which has enabled us to grow our business outside of Kerala, our home state;
- Main focus on our rural and semi-urban banking franchise;
- Growing Retail Deposits portfolio;
- Customer connections driven by our customer-centric products and processes and other non-financial services for Micro Loan customers;
- Technology-driven model with a digital technology platform; and
- Experienced Board, Key Managerial Personnel and Senior Management Personnel
Quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-23 | 6.73 | 17.69 | 38.03 |
| 31-Mar-22 | 1.22 | 3.89 | – |
| Mar-21 | 2.46 | 7.80 | – |
ESAF Small Finance Bank IPO Lead Managers
Here are the list of Lead managers –
- ICICI Securities Limited
- DAM Capital Advisors Limited
- Nuvama Wealth Management Limited
ESAF Small Finance Bank IPO Registrar to offer
Check out the details of the registrar here –
Link Intime India Private Limited
C-101, 1st Floor, 247 Park
Lal Bahadur Shastri Marg
Vikhroli (West)
Mumbai 400 083
Maharashtra, India
Tel: +91 022 4918 6060
E-mail: esaf.ipo@linkintime.co.in
Website: www.linkintime.co.in
Investor Grievance ID: esaf.ipo@linkintime.co.in
Contact Person: Shanti Gopalkrishnan
SEBI Registration Number: INR000004058
ESAF Small Finance Bank IPO – Other Details
- Statutory Auditor – Deloitte Haskins & Sells, Chartered Accountants and Abarna & Ananthan, Chartered Accountants
- Legal Counsel to the Company – Cyril Amarchand Mangaldas
- Bankers to the Company – Federal Bank Limited
ESAF Small Finance Bank IPO Verdict by Stock Brokers
The ESAF Small Finance Bank IPO presents a positive outlook, with the submission of its Draft Red Herring Prospectus (DRHP) signaling an intent to expand operations.
The IPO combines a fresh issue of shares and existing shareholders’ offer for sale, allowing investor participation. Notably, reputable stakeholders like PNB Metlife, Bajaj Allianz Life, PI Ventures, and John Chakola plan to divest their holdings, enhancing the offering’s credibility.
The bank’s robust financial performance, marked by consistent growth in capital, net worth, total income, and net asset value, underscores its strength and future potential. Investors should closely track official announcements and the prospectus for pricing and key dates, facilitating informed investment decisions.
ESAF Small Finance Bank IPO – Conclusion
In conclusion, the ESAF Small Finance Bank IPO presents a positive opportunity for investors. The bank’s intention to raise capital and expand its operations, combined with the participation of prominent stakeholders, signifies confidence in the offering.
The bank’s steady growth in key financial indicators and its focus on serving underserved populations position it well for future growth.
However, investors should stay updated with official announcements and prospectus for accurate and up-to-date information on the IPO, including important dates and pricing details.
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ESAF Small Finance Bank IPO Review FAQs
Check out the FAQs on ESAF Small Finance Bank IPO –
What is the Issue Size of ESAF Small Finance Bank IPO?
The Company is making an initial public offer of 77,166,667 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of the ESAF Small Finance Bank IPO?
The price band for this particular IPO ranges between Rs 57 to Rs 60. As far as the face value of the share is concerned, it is Rs.10 per share.
What is the ESAF Small Finance Bank IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on November 3, 2023, while the closing date is set at November 7, 2023.
What is the ESAF Small Finance Bank IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on November 10, 2023, refund initiation is on November 13, 2023, credit of shares is on November 15, 2023, and share listing date is on November 16, 2023.
What is the ESAF Small Finance Bank IPO Listing Date?
Shares of this company shall be listed in the exchanges on November 16, 2023. The date, when the listing would be done, is stagnant on November 16, 2023.
Who is the Registrar of ESAF Small Finance Bank IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. Link Intime India Private Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of ESAF Small Finance Bank IPO?
Here are the promoters of this IPO – KADAMBELIL PAUL THOMAS AND ESAF FINANCIAL HOLDINGS PRIVATE LIMITED. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of ESAF Small Finance Bank IPO?
They have obtained the GMP of this IPO and it is Rs.20. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Is ESAF Small Finance Bank IPO good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of ESAF Small Finance Bank Company?
They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2023 in Million is 6,238.29, 2022 is 3,609.75, 2021 is 3,325.92. PAT from Jun 2023 is 6,719.86.
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