ESAF Small Finance Bank IPO Date, Review, Price, Allotment Details

ESAF Small Finance Bank IPO is a small finance bank that prioritizes serving unbanked and under-banked customer segments, with a particular focus on rural and semi-urban areas. Their portfolio of financial products includes:

a) Micro Loans: This category encompasses Microfinance Loans and Other Micro Loans. b) Retail Loans: This includes a variety of retail loans such as gold loans, mortgages, personal loans, and vehicle loans. c) MSME Loans: These are loans tailored for Micro, Small, and Medium Enterprises (MSMEs). d) Loans to Financial Institutions: Providing financial support to other institutions. e) Agricultural Loans: Catering to the needs of the agricultural sector.

ESAF Bank has established an extensive network comprising 700 banking outlets, which also include 59 business correspondent-operated banking outlets. Additionally, they have 743 customer service centers operated by business correspondents, 20 business correspondents, 2,023 banking agents, 481 business facilitators, and 528 ATMs. This widespread network operates across 21 states and two union territories, collectively serving 6.83 million customers as of March 31, 2023. This underscores their significant presence and commitment to reaching underserved communities and regions.

ESAF Small Finance Bank IPO Timeline (Tentative Schedule)

ESAF Small Finance Bank IPO opens on November 3, 2023, and closes on November 7, 2023.

IPO Open DateFriday, November 3, 2023
IPO Close DateTuesday, November 7, 2023
Basis of AllotmentFriday, November 10, 2023
Initiation of RefundsMonday, November 13, 2023
Credit of Shares to DematWednesday, November 15, 2023
Listing DateThursday, November 16, 2023
Cut-off time for UPI mandate confirmation5 PM on November 7, 2023

ESAF Small Finance Bank IPO Lot Size

Investors can bid for a minimum of 250 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Retail (Min)1250₹15,000
Retail (Max)133250₹195,000
S-HNI (Min)143,500₹210,000
S-HNI (Max)6616,500₹990,000
B-HNI (Min)6716,750₹1,005,000

ESAF Small Finance Bank Limited Financials

ESAF Small Finance Bank Limited’s revenue increased by 46.29% and profit after tax (PAT) rose by 452.39% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended30 Jun 202331 Mar 202331 Mar 202231 Mar 2021
Profit After Tax129.96302.3354.73105.40
Net Worth1,839.091,709.131,406.801,352.06
Reserves and Surplus1,389.621,259.66957.32902.59
Total Borrowing2,739.133,354.202,952.831,694.00

About the Issue

ESAF Small Finance Bank IPO is a book-built offering valued at Rs 463.00 crores. This comprises a combination of fresh issues totaling 6.51 crore shares, amounting to Rs 390.70 crores, and an offer for sale involving 1.2 crore shares, equivalent to Rs 72.30 crores.

The subscription period for the ESAF Small Finance Bank IPO commences on November 3, 2023, and concludes on November 7, 2023. The IPO allotment process is expected to be finalized by Friday, November 10, 2023. ESAF Small Finance Bank IPO is scheduled to be listed on both the BSE and NSE, with a tentative listing date set for Thursday, November 16, 2023.

The price band for the ESAF Small Finance Bank IPO is established at ₹57 to ₹60 per share. Retail investors can apply for a minimum lot size of 250 shares, necessitating an investment of ₹15,000. For sNII (Non-Institutional Investors), the minimum lot size is 14 lots, equivalent to 3,500 shares, with an investment requirement of ₹210,000. bNII (Qualified Institutional Buyers) have a minimum lot size of 67 lots, amounting to 16,750 shares, with a minimum investment of ₹1,005,000.

ESAF Small Finance Bank IPO Registrar

Link Intime India Private Ltd
Phone: +91-22-4918 6270

Company Address

ESAF Small Finance Bank Limited
Building No. VII/83/8,
ESAF Bhavan, Thrissur-Palakkad National Highway,
Mannuthy, Thrissur 680 651
Phone: +91 487 7123 907

ESAF Small Finance Bank IPO FAQs

What is ESAF Small Finance Bank IPO?

ESAF Small Finance Bank IPO is a main-board IPO. They are going to raise ₹430 Crores via IPO. The issue is priced at ₹57 to ₹60 pr equity share. The IPO is to be listed on BSE & NSE.

When ESAF Small Finance Bank IPO will open?

The IPO is to open on November 3, 2023 for QIB, NII, and Retail Investors.

What is ESAF Small Finance Bank IPO Investors Portion?

The investors’ portion for QIB is 50%NII is 35%, and Retail is 10%.

How to Apply the ESAF Small Finance Bank IPO through Zerodha?

Steps to apply in ESAF Small Finance Bank IPO through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the ‘ESAF Small Finance Bank IPO’ row and click the ‘Bid’ button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

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