ESAF Small Finance Bank IPO: Check IPO Details, Date | Espresso

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ESAF Small Finance Bank Limited IPO opens on November 03. Check IPO Details Issue Date Price

November 01, 2023
ESAF Small Finance Bank Limited IPO opens on November 03. Check IPO Details Issue Date Price

ESAF Small Finance Bank Limited is coming out with a fresh public issue to raise Rs. 463 crores from the market.

Below are the details of the ESAF Small Finance Bank Limited IPO:

  • Issue opens – November 03 (Friday)
  • Issue closes – November 07 (Tuesday)
  • Issue size – Rs. 463 crores
  • Price band – Rs. 57 to Rs. 60 per equity share
  • Bid lot – 250 shares and in multiples thereof.

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And here are some details of the company and further details on the ESAF Small Finance Bank Limited IPO.

Company details:

  • ESAF SFB is a small finance bank with a focus on unbanked and under-banked customer segments, especially in rural and semiurban centers. They commenced their business as a small finance bank on March 10, 2017. Their primary products are advances (asset products) and deposits (liability products). Advances comprise of: (a) Micro Loans i.e., Microfinance Loans and Other Micro Loans; (b) retail loans, which includes gold loans, mortgages, personal loans, and vehicle loans; (c) MSME loans; (d) loans to financial institutions; and (e) agricultural loans. Liability products comprise of current accounts, savings accounts, term deposits and recurring deposits. Their AUM grew from ?84,259.30 million to ?163,312.65 million as at March 31, 2021 and 2023, respectively, registering a CAGR of 39.22%, and increased to ?172,039.68 million as at June 30, 2023, an increase of 5.34%. Their deposits grew from ?89,994.26 million to ?146,656.25 million as at March 31, 2021 and 2023, respectively, registering a CAGR of 27.66%, and increased to ?156,558.54 million as at June 30. 2023, an increase of 6.75%.
  • They have a network of 700 banking outlets (including 59 business correspondent-operated banking outlets), 767 customer service centers (which are operated by business correspondents), 22 business correspondents, 2,116 banking agents, 525 business facilitators and 559 ATMs spread across 21 states and two union territories, serving 7.15 million customers as at June 30, 2023. Their gross advances to customers in rural and semi-urban centers (combined) accounted for 62.97% of their gross advances and 71.71% of their banking outlets are located in rural and semi-urban centers (combined) as at June 30, 2023. While their operations are spread out across India, their business is concentrated in South India, particularly in the states of Kerala and Tamil Nadu. As at June 30, 2023, 62.43% of their banking outlets are located in South India (including 43.43% in Kerala and 13.86% in Tamil Nadu), 73.09% of their gross advances are from customers in South India (including 43.45% from Kerala and 22.14% from Tamil Nadu) and 86.90% of their deposits are from banking outlets in South India (including 80.04% from Kerala and 3.36% from Tamil Nadu).

Issue Size:

Rs. 463 crores

Employee Reservation

Equity shares aggregating up to Rs. 12.50 crore

Employee Discount:

Rs. 5 per share

Issue break-up:

  • QIB – 50% of the net offer – Rs. 225.25 crores
  • NIB – 15% of the net offer – Rs. 67.57 crores
  • RET – 35% of the net offer – Rs. 157.68 crores

Listing:

BSE and NSE

Registrar:

Link Intime India Pvt Ltd

UPI:

All Retail & NII bidders' (bids up to Rs. 5,00,000) applications through brokers are compulsorily in UPI Mode.

Note:

  • Application made using third party UPI or ASBA Bank A/c are liable to be rejected. 
  • The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs. 5,00,000) shall expire at 5:00 PM on the closing day of the IPO i.e. Tuesday, November 07, 2023     

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