ESAF Small Finance Bank IPO Details
Issue Date
--
Price Range
₹57 - ₹60
Lot Size
250
IPO Size
₹464.14 Cr
ESAF Small Finance Bank IPO Listing Details
Listing On
10 Nov'23
Issue Price
₹60
Listed Price
₹ 71
Retail Gain/Listing Gain
▲18.33%
Schedule of ESAF Small Finance Bank IPO
Start date
End date
Allotment of bids
Refund Initiation
Listing on exchange
10/11/2023
ESAF Small Finance Bank IPO Review | Issue Details, Financials and More
Kotak Neo
•3m 27s
Company Background
ESAF Small Finance Bank Limited is a small finance bank with a focus on unbanked and under-banked customer segments, especially in rural and semi-urban centres.
Their key offerings include advances (asset products) and deposits (liability products). The advances include Micro Loans, consisting of Microfinance Loans and Other Micro Loans, retail loans covering gold loans, mortgages, personal loans, vehicle loans, MSME loans, loans to financial institutions, and agricultural loans. On the liability side, their products include current accounts, savings accounts, term deposits, and recurring deposits.
The company has a network of 700 banking outlets (including 59 business correspondent-operated banking outlets), 767 customer service centres, 22 business correspondents, 2,116 banking agents, 525 business facilitators and 559 ATMs spread across 21 states and 2 union territories, serving 7.15 million customers as at June 30, 2023.
With that, let's take a look at the competitive strengths and risk factors for ESAF Small Finance Bank Limited:
Competitive Strengths
Robust industry knowledge, enabling growth
Focussed on rural and semi-urban banking franchises
Growing Retail Deposits portfolio
Risk Factors
- Any adverse change in the economy of South India could have an adverse effect on financial conditions.
- The company could be subject to various sanctions and penalties by the Reserve Bank of India (RBI) for failing to comply with the requirement to list the Equity Shares on a stock exchange in India before July 31, 2021.
- The company is currently in non-compliance with certain major observations of the RBI, which are in the process of being rectified.
Key Strategies
- Penetrate deeper into existing geographies.
- Increase deposits and in particular, retail deposits.
- Continue to grow micro loans while increasing other categories of advances, both in absolute terms and as a percentage of the total AUM.
Key Financials
Here are the key financials for ESAF Small Finance Bank Limited.
How to apply for IPO through ASBA
Kotak Neo
•00m 59s
ESAF Small Finance Bank IPO FAQs
The ESAF Small Finance Bank IPO opens for subscription from [-] to [-], with a total issue size of ₹464.14 Cr. The IPO price band is ₹57 to ₹60 per share with a lot size of 250. The company aims to list the shares on BSE & NSE on 10-11-2023.
The ESAF Small Finance Bank IPO will open for subscription on [-] and will close on [-] for investors.
The minimum lot size for the ESAF Small Finance Bank IPO is 250 equity shares, requiring a minimum investment of ₹15000 for retail investors applying in the IPO.
The price band of the ESAF Small Finance Bank IPO has been fixed at ₹57 to ₹60 per equity share.
You can apply for the ESAF Small Finance Bank IPO online through the Kotak Neo Website or the Kotak Neo App using UPI or ASBA during the IPO subscription period.
ESAF Small Finance Bank IPO allotment will take place on [-].
You can check the ESAF Small Finance Bank IPO allotment status online on the registrar’s website or on the NSE and BSE IPO allotment pages using your application number, PAN, or demat account details.
ESAF Small Finance Bank shares will list on the stock exchanges on 10-11-2023.
The ESAF Small Finance Bank Limited IPO has an issue size of Rs. 463 crores. The IPO opens for subscription on 3rd November and closes on 7th November 2023.
Link Intime India Private Limited is the registrar for this IPO.
You may read more about ESAF Small Finance Bank Limited and its IPO from the company’s red herring prospectus (RHP) here:
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