ESAF Small Finance Bank IPO Details ( ESAF Small Finance Bank Limited IPO Review )
(3 Nov 2023 – 7 Nov 2023)
ESAF Small Finance Bank, was founded in 1992 with a primary focus on lending to people in rural and semi-urban areas. The bank’s products include micro loans, retail loans, MSME loans, loans to financial institutions, and agricultural loans. As of March 2023, ESAF has 700 branches, 743 customer service centers, 20 business correspondents, and 481 business facilitators. The bank also has 581 ATMs across 21 Indian states.
ESAF offers convenient banking through digital platforms like internet banking, a mobile banking app, SMS alerts, bill payments, and RuPay ATM debit cards.
As of March 31, 2022, the bank has provided employment to 4,100 people.
The bank’s strengths include:
- Extensive knowledge of the microloan sector, which has allowed ESAF to expand beyond Kerala.
- A strong presence in rural and semi-urban areas.
- Strong customer relationships built on customer-centric products.
- Utilization of digital technology for convenient banking services.
ESAF Small Finance Bank Limited IPO Competitive Strength
- Our understanding of the micro loan segment 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
- Experienced Board and Key Managerial Personnel and Senior Management Personnel
ESAF Small Finance Bank IPO Financials Performance ( Results )
ESAF Small Finance Bank Limited Financial Information (Restated)
All Amount in ₹ Crores
| Period Ended | Total Assets | Total Revenue | PAT | EPS (₹) | Net Worth | NAV (₹) | Reserves | Borrowing |
| 31-Mar-21 | 12,338.65 | 1,768.42 | 105.40 | 2.46 | 1,352.06 | 902.59 | 1,694.00 | |
| 31-Mar-22 | 17,707.56 | 2,147.51 | 54.73 | 1.22 | 1,406.80 | 957.32 | 2,952.83 | |
| 31-Mar-23 | 20,223.66 | 3,141.57 | 302.33 | 6.71 | 1,709.13 | 38.03 | 1,259.66 | 3,354.20 |
| 30-Jun-23 | 20,795.94 | 991.78 | 129.96 | 2.89 | 1,839.09 | 40.92 | 1,389.62 | 2,739.13 |
Objective of ESAF IPO Issue
- The money raised from this offering will be used to strengthen the bank’s Tier-I capital base. This is essential to meet the bank’s future capital needs, which will arise as the bank’s assets grow, especially its loans and investments. It’s also necessary to ensure that the bank complies with the capital adequacy regulations set by the RBI.
- Additionally, the bank anticipates various advantages from having its Equity Shares listed on the Stock Exchanges.
ESAF SFB IPO Basic Details
| IPO Date | Nov 3, 2023 to Nov 7, 2023 |
| Listing Date | Thursday, November 16, 2023 |
| Face Value | ₹10 per share |
| Price | ₹57 to ₹60 per share |
| Lot Size | 250 Shares |
| Issue Size | 77,166,667 shares of ₹10 (aggregating up to ₹463.00 Cr) |
| Fresh Issue | 65,116,667 shares of ₹10 (aggregating up to ₹390.70 Cr) |
| Offer for Sale | 12,050,000 shares of ₹10 (aggregating up to ₹72.30 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE, BSE |
| Share holding pre issue | 449,473,798 |
| Share holding post issue | 514,590,465 |
| Company Promoters | Kadambelil Paul Thomas and ESAF Financial Holdings Private Limited |
ESAF Small Finance Bank IPO Reservation
| QIB Shares Offered | 50% of the Net Issue |
| NII (HNI) Shares Offered | 15% of the Net Issue |
| Retail Shares Offered | 35% of the Net Issue |
ESAF Bank IPO Timetable
ESAF Bank IPO will open on November 3, 2023 and close on November 7, 2023. You can join ESAF Bank IPO at 10.00 A.M. to 5.00 p.m. Upto which mandate can be applied.
| Event | Date |
| Opening Date | 3 November 2023 (Friday) |
| Closing Date | 7 November 2023 (Tuesday) |
| Basis of Allotment | 10 November 2023 (Friday) |
| Initiation of Refunds | 13 November 2023 (Monday) |
| Credit of Shares to Demat | 15 November 2023 (Wednesday) |
| Listing Date | 16 November 2023 (Thursday) |
| Deadline for UPI mandate confirmation | 5 PM on 7 November 2023 |
ESAF Small Finance Bank IPO Lot Size
For retail investors in ESAF Small Finance Bank IPO, 250 shares will come in 1 lot or the minimum investment will be ₹15,000. Retail-individual investors can apply for up to 1 lots or the maximum investment will be ₹195,000.
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 250 | ₹15,000 |
| Retail (Max) | 13 | 3,250 | ₹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 Promoter Holding
The company’s promoters include Kadambelil Paul Thomas and ESAF Financial Holdings Private Limited.
| Pre Issue Share Holding | 74.43% |
| Post Issue Share Holding | 62.64% |
ESAF Small Finance Bank Ltd IPO Key Performance Indicator ( Valuation )
In the table given below, all the figures have been told according to the latest financial year.
| KPI | Values |
| Market Cap (₹ Cr.) | 3087.54 |
| Earning Per Share (EPS) | ₹6.73 per Equity Share |
| Net Asset Value (NAV) | ₹38.03 per Equity Share |
| P/E Ratio (P/E) (x) | 8.94 |
| Post P/E Ratio (P/E) (x) | 5.94 |
| Return on Net Worth (RoNW) (%) | 17.69% |
| Return on equity (ROE) (%) | Coming Soon |
| Return on Capital Employed (ROCE) (%) | Coming Soon |
| Debt/Equity Ratio | Coming Soon |
ESAF Small Finance Bank Ltd Peer Comparison
| Company Name | Consolidated/ Standalone | Face Value | EPS (₹) | P/E Ratio | RoNW (%) | NAV (₹) | P/BV Ratio |
| ESAF Small Finance Bank Limited | Consolidated | 10.00 | 6.71 | 5.94 | 17.69 | 38.03 | |
| Peer Group | |||||||
| Suryoday Small Finance Bank Limited | Consolidated | 10.00 | 7.32 | 22.39 | 4.90 | 149.28 | 1.10 |
| CreditAccess Grameen Limited | Consolidated | 10.00 | 51.82 | 26.81 | 16.18 | 326.89 | 4.25 |
| Spandana Sphoorty Financial Limited | Consolidated | 10.00 | 1.74 | 471.38 | 0.40 | 436.58 | 1.88 |
| Bandhan Bank Limited | Consolidated | 10.00 | 13.62 | 16.55 | 11.21 | 121.58 | 1.85 |
| Ujjivan Small Finance Bank Limited | Consolidated | 10.00 | 5.87 | 9.81 | 26.45 | 21.27 | 2.71 |
| Equitas Small Finance Bank Limited | Consolidated | 10.00 | 4.67 | 21.51 | 11.12 | 46.44 | 2.16 |
ESAF Small Finance Bank IPO GMP Live Update, Kostak Rate day by day
| Date | GMP | Kostak | Subject to |
| 3 November 2023 | ₹22 | – | – |
| 2 November 2023 | ₹22 | – | – |
| 1 November 2023 | ₹22 | – | – |
ESAF Small Finance Bank IPO Detail Video:
ESAF Small Finance Bank IPO Subscription Status (Bidding Detail)
The ESAF Small Finance Bank IPO on November 7, 2023 at 7:29:00 PM was subscribed 77.00 times, with the retail category being subscribed 17.86 times, the NII (Non-Institutional Investor) category being subscribed 88.81 times, QIB (Qualified-Institutional Buyers) category being subscribed 182.66 times and the Employee category being subscribed 4.59 times.
| Category | Subscription |
| QIB | 182.66x |
| NII | 88.81x |
| Retail | 17.86x |
| Employee | 4.59x |
| Total | 77.00x |
ESAF Small Finance Bank IPO Prospectus
| ESAF Small Finance Bank IPO DRHP | Download |
| ESAF Small Finance Bank IPO RHP | Download |
| ESAF Small Finance Bank IPO Anchor Investors Details PDF | Download |
ESAF Small Finance Bank IPO Rating
| Our Rating | 3.5/5.0 |
ESAF Small Finance Bank Company Contact Information
ESAF Small Finance Bank Limited
Registered and Corporate Office: Building No. VII/83/8, ESAF Bhavan, Thrissur-Palakkad National Highway, Mannuthy, Thrissur 680 651, Kerala, India;
Tel: +91 487 7123 907
Website: www.esafbank.com
Contact Person: Ranjith Raj P, Company Secretary and Compliance Officer
E-mail: investor.relations@esafbank.com
Corporate Identity Number: U65990KL2016PLC045669
Our Promoters: Kadambelil Paul Thomas and Esaf Financial Holdings Private Limited
ESAF Small Finance Bank IPO Registrar
Link Intime India Private Limited
Registered Office: 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 Lead Manager
ICICI Securities Limited
Registered Office: ICICI Venture House Appasaheb Marathe Marg
Prabhadevi, Mumbai 400 025, Maharashtra, India
Tel: +91 22 6807 7100
E-mail: esafsfb.ipo@icicisecurities.com
Website: www.icicisecurities.com
Investor Grievance ID: customercare@icicisecurities.com
Contact Person: Kristina Dias/ Ashik Joisar
SEBI Registration No.: INM000011179
DAM Capital Advisors Limited
Registered Office: One BKC, Tower C, 15th Floor, Unit No. 1511
Bandra Kurla Complex, Bandra (East), Mumbai 400 051
Maharashtra, India
Tel: +91 22 4202 2500
E-mail: esaf.ipo@damcapital.in
Website: www.damcapital.in
Investor Grievance ID: complaint@damcapital.in
Contact Person: Chandresh Sharma
SEBI Registration No.: MB/INM000011336
Nuvama Wealth Management Limited
(formerly known as Edelweiss Securities Limited)*
Registered Office: 801 – 804, Wing A, Building No 3 Inspire BKC, G Block
Bandra Kurla Complex, Bandra East, Mumbai 400 051, Maharashtra, India
Tel: +91 22 4009 4400
E-mail: ESAF@nuvama.com
Website: www.nuvama.com
Investor Grievance ID: customerservice.mb@nuvama.com
Contact person: Lokesh Shah
SEBI registration no.: INM000013004
ESAF Small Finance Bank IPO FAQs
What is the lot size of ESAF Small Finance Bank IPO?
The total size of ESAF Small Finance Bank IPO is ₹463.00 crores out of which ₹390.70 crores is fresh issue and ₹72.30 crores is offer for sale (OFS).
When will ESAF Small Finance Bank IPO start?
ESAF Small Finance Bank IPO will open from 3 November 2023 and IPO will close on 7 November 2023.
What is the open date of ESAF Small Finance Bank IPO?
ESAF Small Finance Bank IPO will open date from 3 November 2023.
What is the last date ( close date ) of ESAF Small Finance Bank IPO?
ESAF Small Finance Bank IPO will close from 7 November 2023.
What is the price band of ESAF Small Finance Bank IPO?
ESAF Small Finance Bank IPO price band is ₹57 to ₹60. ( Upper Price Band: ₹60, Lower Price Band: ₹57 )
What is the minimum amount required to apply for ESAF Small Finance Bank IPO?
The minimum investment for retailers to apply for ESAF Small Finance Bank IPO is ₹15,000 and the maximum investment is ₹195,000.
What is going on gray market premium of ESAF Small Finance Bank IPO?
View gray market premium of ESAF Small Finance Bank IPO by Clicking Here
How much is the GMP of ESAF Small Finance Bank IPO?
Watch ESAF Small Finance Bank IPO GMP Today: Click Here
What is the allotment date of ESAF Small Finance Bank IPO?
The allotment date of ESAF Small Finance Bank IPO is 10 November 2023.
How to check allotment status in ESAF Small Finance Bank IPO?
To check the allotment status of ESAF Small Finance Bank IPO, first of all go to the registrar website by clicking here, select your bad ESAF Small Finance Bank IPO name or enter your bad application number, PAN number or client ID and click on submit. ( Video Link )
What is the listing date of ESAF Small Finance Bank IPO?
The listing date of ESAF Small Finance Bank IPO is 16 November 2023.
How much will be the listing gain in ESAF Small Finance Bank IPO?
View listing gain of ESAF Small Finance Bank IPO by Clicking Here
How much time ESAF Small Finance Bank IPO is subscribed?
Total 77.00 times subscribed in ESAF Small Finance Bank IPO out of which 17.86 times subscription was done in retail quota, 88.81 times subscription in NII quota and 182.66 times subscription in QIB quota.
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How to apply for ESAF Small Finance Bank IPO from Zerodha?
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