ESAF Small Finance Bank IPO is scheduled to open for subscription on November 3, 2023, and the subscription period will close on November 7, 2023. The company’s shares have a face value of ₹10 per share, and the IPO will be offered in a price band of ₹57 to ₹60. The final IPO price will be determined within this price range.
The IPO of ESAF Small Finance Bank Ltd will consist of a combination of a fresh issue and an offer for sale (OFS). The fresh issue component will include the issuance of 6,51,16,667 shares (approximately 651.17 lakh shares). At the upper price band of ₹60 per share, this fresh issue will amount to ₹390.70 crore.
Additionally, there will be an offer for sale (OFS) portion involving the sale of 1,20,50,000 shares (approximately 120.50 lakh shares). At the upper price band of ₹60 per share, the OFS will have a total value of ₹72.30 crore.
About the GMP pricing for ESAF Small Finance Bank IPO
The grey market price (GMP) typically starts trading about 4-5 days before the opening of an IPO and continues until the listing date. In the case of ESAF Small Finance Bank Ltd, we already have GMP data for the last 2 days, which should provide some insights into the expected listing performance.
GMP is influenced by two main factors. First, market conditions have a significant impact on the GMP, particularly the liquidity and overall state of the market. Second, the level of subscription for the IPO also strongly affects the GMP, serving as an indicator of investor interest in the stock. It’s important to note that GMP can also technically be in negative territory, indicating that the stock may list at a discount to the issue price.
How has the GMP panned out in last few days
| Date | Grey Market Price (GMP) |
| 09-Nov-2023 | ₹20 |
| 08-Nov-2023 | ₹20 |
| 07-Nov-2023 | ₹20 |
| 06-Nov-2023 | ₹20 |
| 05-Nov-2023 | ₹20 |
| 3-Nov-2023 | ₹22 |
| 2-Nov-2023 | ₹9 |
| 1-Nov-2023 | ₹9 |
| 31-Oct-2023 | ₹9 |
In the case of ESAF Small Finance Bank IPO, the GMP trend shows that the grey market premium opened at around ₹9 but has remained steady at the same price of ₹22 even on the second day for which GMP data is available. It’s worth noting that the IPO price of ESAF Small Finance Bank Ltd was only announced on the morning of 31st October, so the actual GMP may take some time to reflect the real underlying value.
Investors should await the actual subscription numbers after the issue opens for subscription on 3rd November 2023, as this will have a significant impact on the GMP. In the past, stocks that were oversubscribed in the IPO often experienced a strong positive shift in the grey market pricing. ESAF Small Finance Bank Ltd seems to be generating good interest in the grey market.
If you consider the upper end of the price band of the IPO of ESAF Small Finance Bank Ltd at ₹60, the GMP indicator on 1st November 2023 suggests a likely listing price of around ₹69 per share.
ESAF Small Finance Bank IPO GMP FAQs:
What is ESAF Small Finance Bank IPO GMP Today?
ESAF Small Finance Bank IPO GMP is ₹20 as of today.
What is ESAF Small Finance Bank IPO Kostak Rate Today?
ESAF Small Finance Bank IPO Kostak Rate is ₹- as of today.
What is ESAF Small Finance Bank IPO Expected Returns?
ESAF Small Finance Bank IPO Expected Returns is 33%.
Disclaimer:
GMP of ESAF Small Finance Bank mentioned here is only valid for the date specified in the header. We want to make it clear that we are not involved in buying or selling IPO forms in the IPO Grey Market.
The Kostak Rate represents the extra amount someone can earn by selling their IPO application to another person in a private transaction, even before the shares are officially allocated or listed.
We strongly NOT RECOMMEND subscribing to an IPO solely based on the premium price you see here, as it can change at any time before the company’s shares are listed. It’s essential to make your decision to invest by considering the fundamental factors of the companies involved.