ESAF Small Finance Bank IPO Date, GMP, Price, Analysis and Review
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Established in 1992, ESAF is a Small Finance Bank primarily focused on providing loans to rural and semi-urban customers. The bank offers a range of products, including Micro Loans, retail loans, MSME loans, loans to financial institutions, and agricultural loans. As of March 2023, the bank operates through a network of 700 outlets, 743 customer service centers, 20 business correspondents, and 481 business facilitators. Additionally, it has 581 ATMs located across 21 states in India.
ESAF provides convenient banking services through various digital platforms, including an internet banking portal, a mobile banking platform, SMS alerts, bill payments, and RuPay branded ATM cum debit cards.
As of March 31, 2022, the bank has provided employment to 4,100 people.
The core strengths of the bank include:
- In-depth knowledge of the Microloan segment, enabling ESAF to expand beyond Kerala.
- A strong presence in rural and semi-urban areas.
- Strong customer relationships fostered by the bank’s customer-centric products.
- Digital technology platforms for convenient banking.
Objects of the Issue (ESAF Small Finance Bank IPO Objectives)
The Net Proceeds from the IPO will be used to strengthen the Bank’s Tier-I capital base, ensuring it can meet future capital requirements driven by the growth of the bank’s assets, especially loans, advances, and investments. This allocation aims to maintain compliance with the capital adequacy regulations set by the RBI as needed.
Additionally, the Bank anticipates several advantages from listing its Equity Shares on the Stock Exchanges.
ESAF Small Finance Bank IPO Details
The ESAF Small Finance Bank IPO is a book-built issue with a total worth of Rs 463.00 crores. It consists of a fresh issue of 6.51 crore shares, amounting to Rs 390.70 crores, and an offer for sale of 1.2 crore shares, totaling Rs 72.30 crores.
IPO Date | November 3, 2023 to November 7, 2023 |
Listing Date | November 16, 2023 |
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 |
DRHP Draft Prospectus: | Click Here |
RHP Draft Prospectus: | Click Here |
ESAF Small Finance Bank IPO Reservation
Investor Category | Shares Offered |
---|---|
QIB Shares Offered | Not more than 50% of the Net Issue |
Retail Shares Offered | Not less than 35% of the Net Issue |
NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
ESAF Small Finance Bank IPO Lot Size
Investors can bid for a minimum of 250 shares and in multiples. The table below shows the minimum and maximum investments for 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 Dates
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 Limited Financial Report
ESAF Small Finance Bank Limited’s revenue grew by 46.29%, and the profit after tax (PAT) surged by 452.39% between the financial years ending on 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 |
Key Performance Indicator of ESAF Small Finance Bank
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% |
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% |
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
What is ESAF Small Finance Bank IPO?
ESAF Small Finance Bank IPO is a main-board IPO comprising 77,166,667 equity shares with a face value of ₹10 each, aggregating up to ₹463.00 Crores. The share price ranges from ₹57 to ₹60 per share, with a minimum order quantity of 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, and the shares are proposed to be listed on BSE and NSE.
How to apply for ESAF Small Finance Bank IPO through Zerodha?
Zerodha customers can apply for the ESAF Small Finance Bank IPO online using UPI as a payment gateway. To apply, Zerodha customers should log in to Zerodha Console (back office) and submit an IPO application form.
Steps to apply for ESAF Small Finance Bank IPO through Zerodha:
1. Visit the Zerodha website and log in to Console.
2. Go to Portfolio and click the IPOs link.
3. Find the ‘ESAF Small Finance Bank IPO’ row and click the ‘Bid’ button.
4. Enter your UPI ID, Quantity, and Price.
5. Submit the IPO application form.
6. Visit the UPI App (net banking or BHIM) to approve the mandate.
When will the ESAF Small Finance Bank IPO open?
The ESAF Small Finance Bank IPO will be open for subscription from November 3, 2023, to November 7, 2023.
What is the lot size of ESAF Small Finance Bank IPO?
The lot size for the ESAF Small Finance Bank IPO is 250 Shares, and the minimum amount required is ₹15,000.
How can I apply for ESAF Small Finance Bank IPO?
You can apply for the ESAF Small Finance Bank IPO online using either UPI or ASBA as the payment method. ASBA IPO application is available in the net banking of your bank account, while UPI IPO application is offered by brokers who don’t provide banking services.
When will ESAF Small Finance Bank IPO allotment take place?
The Basis of Allotment for the ESAF Small Finance Bank IPO will be finalized on Friday, November 10, 2023. Allotted shares will be credited to your demat account by Wednesday, November 15, 2023. You can check the ESAF Small Finance Bank IPO allotment status.
When is the listing date for ESAF Small Finance Bank IPO?
The listing date for the ESAF Small Finance Bank IPO has not been announced yet, but the tentative date is Thursday, November 16, 2023.