ESAF Small Finance Bank is set to launch an IPO which will open on November 03, 2023, and close on November 07, 2023. Through this public offer company wants to raise Rs. 463 Crore from the primary market, Company fixed the price band of Rs. 60 with a minimum lot of 250 shares, and listed on November 16, according to the preliminary papers filed to the capital market regulator SEBI.
About ESAF Small Finance Bank Company
ESAF Small Finance Bank (2016) is focused on unbanked and under-banked customer segments, mainly in rural and semi-rural areas of south India.
The prime product of the Bank is MSME Loans, loan to finance institution, agriculture loans, retail loans, gold loans, etc.
The bank has:
- 700 banking outlet
- 22 business correspondence
- 2216 banking agent
- 559 ATM
- 15 million customer base
ESAF Small Finance Bank IPO Object
In terms of the SFB licensing guidelines, the bank is required to list on Stock-exchange within a period of 3 years from reaching a net worth of Rs. 500 crores.
The bank will use the net proceeds towards argumentation of the bank’s tier-1 capital base to meet the bank’s future capital requirements and the bank’s loans, advances, and investment portfolio and to ensure the compliance requirement prescribed by the RBI from time to time.
ESAF Small Finance Bank Strength
- Main focus on rural and semi-urban banking franchise
- Growing retail deposit portfolio
- Tech-driven model and scalable business model.
- Experienced board and senior management personnel
ESAF Small Finance Bank Risk Factor
- Concentrated in south India only.
- In the past the bank faced penalties on non-compliance of RBI rules.
ESAF Small Finance Bank IPO Review & Rating
| Issue Size (Rs.) | 463 crore |
| Issue Price (Rs.) | 60 per share |
| Minimum Lot Size | 13 shares |
| Total Profit (March 2023) (Rs.) | 302.33 crore |
| RoNW (%) | 17.69% |
| NAV (Rs.) | 38.03 per share |
| Listing on | BSE and NSE |
| IPO Deliver Rating | Long term |
ESAF Small Finance Bank IPO Dates, Price Band & Details
ESAF Small Finance Bank IPO will open on November 03, 2023, and close on November 07, 2023. The IPO list on November 16, 2023.
| Type of issue | Book Built Issue IPO |
| Issue Size (Rs.) | 463 Crore |
| Face Value (Rs.) | 10/- per share |
| IPO Open Date | November 03, 2023 |
| IPO Close Date | November 07, 2023 |
| IPO Allotment Date | November 10, 2023 |
| Refund Date | November 13, 2023 |
| Share Credit Date | November 15, 2023 |
| Listing Date | November 16, 2023 |
ESAF Small Finance Bank IPO Offer
ESAF Small Finance Bank IPO total issue size is 77,166,666 shares which comprises below mentioned categories.
| Offer Category | Shares Offer | Amount (Rs.) |
| Fresh Issue | 65,116,666 | 390.70 Crore |
| Offer for Sale (OFS) | 12,050,000 | 72.30 Crore |
ESAF Small Finance Bank Financials Review (crore)
The following table sets forth the summary of financial information (Standalone) of the company for the financial year ending March 31, 2023, 2022, and 2021.
| Category (Rs.) | March 31, 2023 | March 31, 2022 | March 31, 2021 |
| Total Revenue | 3414.57 | 2147.51 | 1768.42 |
| Net Worth | 1709.13 | 1406.80 | 1352.06 |
| Profit | 302.33 | 54.73 | 105.40 |
| Total Borrowings | 3,354.20 | 2,952.83 | 1,694 |
ESAF Small Finance Bank IPO Quantitative Factors
The following table sets forth the summary of financial information of the company for the financial year ending March 31, 2023, 2022, and 2021.
| Category | March 31, 2023 | March 31, 2022 | March 31, 2021 |
| EPS (Rs.) | 6.73 | 1.22 | 2.46 |
| RoNW (%) | 17.69 | 3.89 | 7.80 |
| NAV (Rs.) | 38.03 | – | – |
ESAF Small Finance Bank IPO Peer Comparison (Top 2)
Comparison with the other same segment listed companies in India.
| Company Names | EPS (Rs.) | RoNW (%) | NAV (Rs.) |
| Equitas Small Finance Bank | 4.71 | 11.12 | 46.44 |
| Bandhan Bank | 13.62 | 11.21 | 121.58 |
ESAF Small Finance Bank Company Promoters
As per the DRHP and RHP, the company has two Promoter.
| Serial No. | Name |
| 01. | Kadambelil Paul Thomas |
| 02. | EASF Financial Holdings Pvt. Ltd |
ESAF Small Finance Bank Pre-offer and Post-Offer Promoters Shareholding
| Promoter and promoter group Shareholding | Percentage (%) |
| Pre-Issue | – |
| Post- Issue | – |
.
ESAF Small Finance Bank IPO Reservation
ESAF Small Finance Bank IPO total reservation of 77,166,666 shares, distributed between the below-mentioned categories.
| Category | No. of Shares |
| QIB Shares Offered | Not more than 50% of the offer |
| RII Shares Offered | Not less than 35% of the offer |
| NII Shares Offered | Not less than 15% of the offer |
ESAF Small Finance Bank IPO – Market Lot Size
An individual investor can apply for a minimum of 1 lot of 250 Shares and a maximum of 13 lot of 3250 shares. Market lot sizes for retail investors are as follows:
| Application | Lot Size | No. of Shares | Amount (Rs.) |
| Retail Minimum | 1 | 250 | 15000 |
| Retail Maximum | 13 | 3250 | 195000 |
ESAF Small Finance Bank IPO – Prospectus
An investor can download/view the ESAF Small Finance Bank Limited prospectus copy, which was filed by the company to SEBI, details are as follows.
| ESAF Small Finance Bank IPO Prospectus | Download/View Links |
| Draft Red Herring Prospectus (DRHP) | Click here |
| Red Herring Prospectus (RHP) | Click here |
ESAF Small Finance Bank IPO Registrar
Link Intime India Private Limited
Tel No.: 011-45121795
E-Mail: esaf.ipo@linkintime.co.in
Website: www.linkintime.co.in
ESAF Small Finance Bank IPO lead manager
#1. ICICI Securities Limited
#2. DAM Capital Advisors Limited
#3. Nuvama Wealth Management Limited
ESAF Small Finance Bank IPO Application (How to Apply for an IPO)
There are primary four options for applying for a ESAF Small Finance Bank IPO, details are as follows:
Option-1 Apply for IPO through Internet Banking
Step-1. Log into your bank account.
Step-2. In the invest Tab, you will see ASBA, click on it.
Step-3. Choose to apply for IPO and select the ongoing IPO “ESAF Small Finance Bank Limited”
Step-4. Enter the basic details like bid quantity, price, PAN, etc. then proceed with payment.
Step-5. After the above steps, the respective amount will get blocked till the allotment date and after it will get a refund/debited in case of rejection/allotment respectively.
Option-2 Apply for IPO through a Broker firm
Step-1. Log into your broker account (e.g. Upstox/Zerodha etc.)
Step-2. Click on the IPO tab and select the ongoing IPO “ESAF Small Finance Bank Limited”
Step-3. Enter the basic details like bid quantity, price, PAN, etc. then enter UPI ID and proceed with payment.
Step-4. Your funds will get blocked, and once shares have been allotted to you, the respective amount will get debited from your account or get refunded in case no allotment is made to you.
Option-3 Apply for IPO Offline Mode Bank mode
Step-1. Visit the nearest branch of your bank.
Step-2. Fill out the ASBA form and submit it with KYC details.
Step-3. Your funds will get blocked, and once shares have been allotted to you, the respective amount will get debited from your bank account or refunded in case no allotment is made to you.
Option – 4 Apply for IPO through Stock Exchanges
NSE Form – Click to download
BSE Form – Click to download
Submit the form with your bank/broker.
ESAF Small Finance Bank Company Details
ESAF Small Finance Bank Limited (2016)
Registered Office: Building No. VII/83/8, ESAF Bhawan, Trissur- Palakkad National Highway, Mannuthy, Trissur -680 651, Kerala, India
Tel: +91-4877 23907
Email: investor.relations@esafbank.com
Website: www.esafbank.com
Investor Grievances/Compliance Officer: Ranjith Raj P
ESAF Small Finance Bank Subsidiary Companies (Top 2)
| Serial No. | Name of Companies |
| 01. | – |
| 02. | – |
ESAF Small Finance Bank Company Board (Top 2)
| Serial No. | Name of Directors |
| 01. | R.P. Ramakrishnan |
| 02. | Kadambelil Paul Thomas |
ESAF Small Finance Bank IPO – Frequently Asked Questions (FAQ’s)
Q-1 What is ESAF Small Finance Bank IPO?
Ans: ESAF Small Finance Bank brings its Mainboard IPO of Rs. 463 crore, on November 03, 2023, with a price band of Rs. 60 per share.
Q-2 what is ESAF Small Finance Bank IPO Open date?
Ans: ESAF Small Finance Bank IPO opening date is November 03, 2023.
Q-3 what is ESAF Small Finance Bank IPO Close date?
Ans: ESAF Small Finance Bank IPO closing date is November 07, 2023.
Q-4 What is ESAF Small Finance Bank IPO Listing date?
Ans: ESAF Small Finance Bank IPO listing date is November 16, 2023.
Q-5 What is ESAF Small Finance Bank IPO Minimum investment amount?
Ans: ESAF Small Finance Bank IPO minimum investment amount is Rs. 15,000.
Q-6 What is ESAF Small Finance Bank IPO offer issue Size?
Ans: ESAF Small Finance Bank offer an issue size of Rs. 463 Crores.
Q-7 What is ESAF Small Finance Bank IPO Price Band?
Ans: ESAF Small Finance Bank IPO price band is Rs.60 per share.
Q-8 Is ESAF Small Finance Bank IPO mainboard IPO or SME IPO?
Ans: ESAF Small Finance Bank IPO is the mainboard IPO.
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