26-Oct-2023
2 mins read
The IPO date for ESAF Small Finance Bank is November 3, 2023 to November 7, 2023. The issue comprises a fresh issue of Rs 390.70 crores and an offer for sale of Rs 72.30 crores. Thanks to approval from the capital markets regulator SEBI, ESAF Small Finance Bank Ltd. is now eligible to raise capital through an initial public offering (IPO).
ESAF Small Finance Bank Limited Product Portfolio
Established in 1992, ESAF is a Small Finance Bank that primarily focuses on extending loans to rural and semi-urban clientele. As of March 2023, the bank boasts a network of 700 branches, 743 customer service centres, 20 business correspondents, and 481 business facilitators. Additionally, there are 581 ATMs situated across 21 states in India.
The bank’s offerings encompass (a) Micro Loans, (b) retail loans, (c) MSME loans, (d) loans to financial institutions, and (e) agricultural loans.
ESAF provides convenient banking through various digital platforms, including an internet banking portal, a mobile banking platform, SMS alerts, bill payment services, and RuPay-branded ATM cum debit cards.
As of March 31st, 2022, the bank has provided employment opportunities to 4,100 individuals.
The bank’s core strengths are as follows:
- Profound expertise in the microloan segment, enabling ESAF to expand its presence beyond Kerala.
- A robust presence in rural and semi-urban regions.
- Strong customer relationships fostered by the bank’s customer-centric products.
- A digital technology platform that enhances convenience in banking services.
The Objectives of ESAF Small Finance Bank Limited IPO
The net proceeds from the IPO are intended to support the Bank’s Tier-I capital base to meet future capital requirements that are likely to arise from growth in the Bank’s assets, particularly its loan and investment portfolio. Additionally, it will ensure compliance with the regulatory capital adequacy requirements set by RBI from time to time.
Financial Performance of ESAF Small Finance Bank Limited IPO (In Crore)
| Period Ended | 30-Jun-23 | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| 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 | 105.4 |
| 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
| KPI | Values |
| P/E (x) | 8.94 |
| Post P/E (x) | 5.94 |
| Market Cap (Rs in crore) | 3087.54 |
| EPS (Rs) | 6.73 |
| RoNW | 17.69% |
Important Details of ESAF Small Finance Bank Limited IPO
| IPO Date | November 3, 2023 to November 7, 2023 |
| Listing Date | 16-Nov-23 |
| Face Value | Rs 10 per share |
| Price Band | Rs 57 to Rs 60 per share |
| Lot Size | 250 Shares |
| Total Issue Size | 77,166,667 shares (aggregating up to Rs 463.00 Cr) |
| Fresh Issue | 65,116,667 shares (aggregating up to Rs 390.70 Cr) |
| Offer for Sale | 12,050,000 shares of Rs 10 (aggregating up to Rs 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 |
ESAF Small Finance Bank IPO Lot Size
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 250 | Rs 15,000 |
| Retail (Max) | 13 | 3250 | Rs 195,000 |
| S-HNI (Min) | 14 | 3,500 | Rs 210,000 |
| S-HNI (Max) | 66 | 16,500 | Rs 990,000 |
| B-HNI (Min) | 67 | 16,750 | Rs 1,005,000 |
ESAF Small Finance Bank Limited IPO Promoter Holding
Kadambelil Paul Thomas and ESAF Financial Holdings Private Limited are the promoters of the company.
| Shareholding Pre Issue | 74.43% |
| Shareholding Post Issue | 62.64% |
ESAF Small Finance Bank Limited 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 Limited IPO Lead Manager(s)
The lead managers for ESAF Small Finance Bank Limited IPO are ICICI Securities Limited, Dam Capital Advisors Ltd (Formerly IDFC Securities Ltd) and Nuvama Wealth Management Limited.
How to Apply for ESAF Small Finance Bank Limited IPO
Wait for the public issue to open for subscription, then click on this link to apply for ESAF Small Finance Bank Limited IPO with Bigul https://ipo.bonanzaonline.com/
How to Check the Allotment Status of ESAF Small Finance Bank Limited IPO
The registrar for ESAF Small Finance Bank Limited IPO is Link Intime India Private Ltd. To check your allotment status, please click on this link https://linkintime.co.in/
FAQs
- What is ESAF Small Finance Bank Limited’s IPO?
ESAF Small Finance Bank Limited IPO is a public offering where the company is selling its shares to the general public to get listed on stock exchanges.
- When is the IPO Date?
The specific IPO date is November 3, 2023 to November 7, 2023.
- What will be the listing date of ESAF Small Finance Bank Limited on the stock exchange?
The listing date has been announced as November 16, 2023.
- What is the face value of the ESAF Small Finance Bank Limited share?
The face value of each share is Rs 10.
- How many shares are being offered in this IPO?
The total issue size has been announced as 77,166,667 shares (aggregating up to Rs 463.00 Cr).
- Where will ESAF Small Finance Bank Limited be listed?
The shares will be listed on BSE and NSE.
- What is the price of each share in the IPO?
The share price for the IPO has been declared as Rs 57 to Rs 60 per share.
- Who are the lead managers for the IPO?
The lead managers for IPO are ICICI Securities Limited, Dam Capital Advisors Ltd (Formerly IDFC Securities Ltd) and Nuvama Wealth Management Limited.
- How can I apply for the ESAF Small Finance Bank Limited IPO?
Once the public issue is open, you can apply for the IPO through this link: ESAF Small Finance Bank Limited IPO on Bigul.
- How can I check my allotment status for the IPO?
The registrar for the IPO is Link Intime India Private Ltd. To check the allotment status, visit Link Intime.
- What is the primary objective of the ESAF Small Finance Bank Limited IPO?
The IPO aims to boost the Bank’s Tier-I capital to meet future capital requirements arising from asset growth, especially loans and investments. It will also ensure regulatory capital adequacy compliance set by RBI.
- What has been the financial performance of ESAF Small Finance Bank Limited in the recent past?
Financial highlights include growth in net worth, total assets, total revenue, profit after tax, reserves and surplus, and total borrowings from 2021 to 2023, as provided in the provided data. Between FY22 and FY23, the bank’s revenue increased by 46.29% and profit after tax (PAT) rose by 452.39%.