ESAF Small Finance Bank IPO Price: ₹57 - ₹60
IPO Date Range: Nov 3, 2023 - Nov 7, 2023
ESAF Small Finance Bank is an Indian small finance institution headquartered in Thrissur, Kerala. It began as an NGO in 1992 under the name Evangelical Social Action Forum, evolved into a licensed NBFC-MFI by the Reserve Bank of India, and transitioned into a small finance bank in March 2017, offering banking services and small loans to the underbanked.
ESAF Small Finance Bank offers a range of financial products, including:
As of March 2023, the bank boasts an extensive presence with 700 outlets, 743 customer service centers, 20 business correspondents, and 481 business facilitators. Additionally, the bank operates 581 ATMs spanning across 21 states in India.
The bank's fundamental strengths encompass the following key aspects:
| IPO Date | November 3, 2023 to November 7, 2023 |
| Listing Date | Thursday, 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 Cr) |
| Fresh Issue | 65,166,667 shares (aggregating up to ₹390.70 Cr) |
| Offer For Sale | 12,050,000 shares (aggregating up to ₹ 72.30Cr) |
| Employee Discount | ₹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 |
The minimum lot size to apply in this ESAF Small Finance Bank Limited IPO consists of 250 shares, requiring an investment of ₹15,000.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 250 | ₹ 15,000 |
| Retail (Max) | 13 | 3,250 | ₹ 1,95,000 |
| S-HNI (Min) | 14 | 3,500 | ₹ 2,10,000 |
| S-HNI (Max) | 66 | 16,500 | ₹ 9,90,000 |
| B-HNI (Min) | 67 | 16,750 | ₹ 10,05,000 |
| 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 |
| 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 |
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ESAF Small Finance Bank Limited saw a substantial growth in revenue, surging by 46.29%, and an impressive 452.39% increase in profit after tax (PAT) between the financial years ending on March 31, 2023, and March 31, 2022.
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 | 30 June 2023 |
|---|---|---|---|---|
| Assets | 12338.65 | 17707.56 | 20223.66 | 20795.94 |
| Revenue | 1768.42 | 2147.51 | 3141.57 | 991.78 |
| Profit After Tax | 105.40 | 54.73 | 302.33 | 129.96 |
| Net Worth | 1352.06 | 1406.80 | 1709.13 | 1839.09 |
| Reserves & Surplus | 902.59 | 957.32 | 1259.66 | 1389.62 |
| Total Borrowing | 1694.00 | 2952.83 | 3354.20 | 2739.13 |
| KPI | Values |
|---|---|
| P/E (x) | ₹ 8.94 |
| Market Cap ( ₹ Cr) | 3087.54 |
| EPS (Rs) | 6.73 |
| RoNW | 17.69% |
The Net Proceeds are intended to bolster the Bank's Tier-I capital base, addressing future capital needs anticipated due to the Bank's expanding assets, particularly in the form of loans and investments. This will ensure adherence to regulatory capital adequacy requirements set forth by the RBI.
In addition, listing the Equity Shares on the Stock Exchanges is expected to bring about advantageous outcomes for the Bank.
Prospectus: Official documents that provide detailed information about the IPO and the company. ESAF Small Finance Bank IPO DRHP and ESAF Small Finance Bank IPO RHP.
An IPO, or Initial Public Offering, is the process by which a private company offers its shares to the public for the first time to raise capital.
Companies go public to raise capital for expansion, reduce debt, or for other corporate purposes. It also provides liquidity to existing shareholders.
The price range for the"ESAF Small Finance Bank Limited" IPO is ₹57 to ₹60 per share.
The "ESAF Small Finance Bank Limited" IPO is expected to be listed on Thursday, November 16, 2023.
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