ESAF Small Finance Bank Limited IPO is set to launch on 3 November, 2023. The company initiated its business operations in the year 1992. It is a small finance bank and provides loans to semi-urban and rural customers. The products of the firm are retail loans, Micro loans, loans to financial institutions, MSME loans and Agricultural loans. The network of the bank is spread across 21 states. They have more than 700 outlets, 20 business correspondents, 743 business service centres, 481 business facilitators. The bank has 581 ATM locations as well. The bank functions through an online portal as well for providing internet banking services, mobile banking platform and other bank related services. The company provides employment to more than 4100 people.
ESAF Small Finance Bank Limited IPO DETAILS
ESAF Small Finance Bank Limited IPO is set to launch on 3 November, 2023. The subscription timeline extends till 7 November, 2023. The size for the IPO is 463 Crore Rs. Shares issued through fresh issue mode are worth 390.70 Crore Rs. Shares issued through offer for sale mode are worth Rs 72.30 Crore. The lot size is 250 shares and the price is 57 Rs to 60 Rs per share. The company is going to get listed at both NSE and BSE. The face value per share is Rs.10 and this is a Book Built issue. The registrar for the company is Link Intime India Private Limited.
Tabular Description of ESAF Small Finance Bank Limited IPO
| IPO OPENING DATE | 3 November, 2023 |
| CLOSING DATE FOR IPO | 7 November, 2023 |
| ISSUE TYPE | Book Built Issue |
| Face Value per share | 10 Rs. per share |
| IPO price band | 57 Rs. to 60 Rs. per share |
| LOT SIZE | 250 shares |
| MINIMUM ORDER QUANTITY | 250 shares |
| ISSUE SIZE | 463 Crore Rs. |
| OFFER FOR SALE | 72.30 Crore Rs. |
| FRESH ISSUE | 390.70 Crore Rs. |
| LISTING AT | NSE, BSE |
| LISTING DATE | 16 November, 2023 |
ESAF Small Finance Bank Limited IPO : IMPORTANT DATES
| IPO OPENING DATE | 3 November, 2023 |
| CLOSING DATE FOR IPO | 7 November, 2023 |
| IPO ALLOTMENT DATE | 10 November, 2023 |
| REFUNDS | 13 November, 2023 |
| DEMAT A/C CREDITED ON | 15 Movember, 2023 |
| IPO LISTING DATE | 16 November, 2023 |
ESAF Small Finance Bank Limited IPO begins for subscription from 3 November, 2023. The IPO subscription would continue till 7 November, 2023. The allotment status for the shareholders who applied would come on 10 November, 2023. The refunds for the ones who did not get allotment would be initiated on 13 November, 2023. The DEMAT accounts of shareholders would be credited on 15 November, 2023. The listing of the company would be completed on 16 November, 2023.
ESAF Small Finance Bank Limited IPO : Lead Managers
The lead managers are :
- ICICI Securities Limited
- Nuvama Wealth Management Limited
- DAM Capital Advisors Limited
The minimum lot size for the company is decided at 250 shares. This holding accounts to 15000 Rs.. The maximum lot size is decided at 3250 shares. This amounts to 195000 Rs.. Hence the company’s final holdings would be set as :
| Shares | Amount | |
| Minimum | 250 shares | 15000 Rs. |
| Maximum | 3250 shares | 195000 Rs. |
OBJECTIVES FOR THE IPO
- IPO proceeds would be used for general corporate purposes.
- The company will use the IPO money for further working capital requirements.
COMPANY FINANCIALS
| Particularly (in Crore Rs.) | 2020-21 | 2021-22 | 2022-23 |
| ASSETS | 536 | 713 | 862 |
| Revenue | 507 | 703 | 745 |
| PAT | 136 | 181 | 160 |
ESAF Small Finance Bank Limited had an asset base of 536 Crore Rs in the year 2021 which increased to 713 Crore Rs in 2022 and 862 Crore Rs in 2023. The revenue of the firm was 507 Crore Rs in 2021 which increased to 703 Crore Rs in 2022 and 745 Crore Rs in 2023. The profit of the firm was 136 Crore Rs in 2021 which increased to 181 Crore Rs in 2022. However in the year 2023 the profit of the firm decreased to 160 Crore Rs.
PROS
- The products of the firm are retail loans, Micro loans, loans to financial institutions, MSME loans and Agricultural loans.
- The network of the bank is spread across 21 states. They have more than 700 outlets, 20 business correspondents, 743 business service centres, 481 business facilitators.
- The bank has 581 ATM locations as well. The bank functions through an online portal as well for providing internet banking services, mobile banking platform and other bank related services. The company provides employment to more than 4100 people.
CONS
- The company works in a highly competitive segment.
ESAF Small Finance Bank Limited IPO Application Process with Zerodha
It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :
- Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
- Click the ESAF Small Finance Bank Limited IPO button and press the BID button.
- Entering the details asked for like UPI ID, Quantity and price.
- Submit the application form for the IPO.
- Visiting the application of UPI for approving the transaction.
Now, applying for an IPO online is possible with most of the Discount and online brokers.
