ESAF is a Small Finance Bank mainly focusing on providing loans to rural and semi-urban customers.
The Bank’s products consist of:
- Micro Loans,
- Retail loans,
- MSME loans,
- Loans to financial institutions; and
- Agricultural loans.
As of 30 June 2023, Bank has a network of 700 banking outlets (including 59 business correspondent-operated banking outlets), 767 customer service centers (which are operated by the 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.
Bank offers convenience banking through various digital platforms such as an internet banking portal, a mobile banking platform, SMS alerts, bill payments and RuPay branded ATM cum debit cards.
As of 31st March 2022, the Bank has provided employment to 4100 people.
ESAF Small Finance Bank IPO – Details
| IPO Opening Date | 03 November 2023 |
| IPO Closing Date | 07 November 2023 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 7,71,66,667 Shares Worth ₹463.00 Crore Fresh Issue: 6,51,16,667 Shares Worth ₹390.70 Crore Offer For Sale: 1,20,50,000 Shares Worth ₹72.30 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹57 – ₹60 |
| Market Lot | 250 Shares |
| Min Order | 250 Shares (1 Lot) |
| Employee Discount | Rs 5 |
| Listing At | BSE, NSE |
| Register | Link Intime India Private Ltd |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
ESAF Small Finance Bank IPO – Date Schedule
| IPO Open Date | 03 November 2023 |
| IPO Close Date | 07 November 2023 |
| Basis of Allotment Date | 10 November 2023 |
| Initiation of Refund | 13 November 2023 |
| Credit of Shares to Demat Account | 15 November 2023 |
| IPO Listing Date | 16 November 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on 07 November 2023 |
ESAF Small Finance Bank IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 250 | 15,000 |
| Retail (Max) | 13 | 3,250 | 1,95,000 |
| S-HNI (Min) | 14 | 3,500 | 2,10,000 |
| S-HNI (Max) | 66 | 16,500 | 9,90,000 |
| B-HNI (Min) | 67 | 16,750 | 10,05,000 |
Competitive Strengths
- In-depth knowledge of the Microloan segment helped ESAF to grow outside Kerela.
- Main focus on rural and semi-urban banking franchise.
- Strong customer relationships driven by Bank’s customer-centric products.
- Growing Retail Deposits portfolio.
- Technology-driven model with a digital technology platform.
- Experienced Board, Key Managerial Personnel and Senior Management Personnel.
Company Promoters
- Kadambelil Paul Thomas
- ESAF Financial Holdings Private Limited
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2021 | 1768.42 | 1663.02 | 105.39 | 1694.00 |
| 31 March 2022 | 2147.50 | 2092.77 | 54.73 | 2952.83 |
| 31 March 2023 | 3141.57 | 2839.23 | 302.33 | 3354.19 |
Key Performance Indicator
| KPI | Values |
|---|---|
| P/E (x) | 8.94 |
| Market Cap (₹ Cr.) | 3087.54 |
| EPS (Rs) | 6.73 |
| RoNW | 17.69% |
Object Of The Issue
- The Net Proceeds are proposed to be utilized towards augmentation of the Bank’s Tier-I capital base to meet the Bank’s future capital requirements which are expected to arise out of growth in the Bank’s assets, primarily the Bank’s loans/advances and investment portfolio and to ensure compliance with regulatory requirements on capital adequacy prescribed by the RBI from time to time. The Bank expects to receive the benefits of listing the Equity Shares on the Stock Exchanges.
ESAF Small Finance Bank IPO Promoter Holding
| Pre Issue Share Holding | 74.43% |
| Post Issue Share Holding | 63.41% |
ESAF Small Finance Bank IPO Prospectus
Company Contact Information
| 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 Email: investor.relations@esafbank.com Website: https://www.esafbank.com/ |
ESAF Small Finance Bank IPO Registrar
| Link Intime India Private Ltd Phone: +91-22-4918 6270 Email: esaf.ipo@linkintime.co.in Website: https://linkintime.co.in/mipo/ipoallotment.html |
ESAF Small Finance Bank IPO Lead Manager(s)
| 1. ICICI Securities Limited 2. Dam Capital Advisors Ltd 3. Nuvama Wealth Management Limited |
ESAF Small Finance Bank IPO FAQs
| What is ESAF Small Finance Bank IPO? ESAF Small Finance Bank IPO is a main-board IPO. The issue is priced at ₹57 to ₹60 per 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 03 November 2023 for QIB, NII, and Retail Investors. |
| What is ESAF Small Finance Bank IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| How to Apply the ESAF Small Finance Bank IPO? You can apply ESAF Small Finance Bank IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the ESAF Small Finance Bank IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “ESAF Small Finance Bank”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the ESAF Small Finance Bank IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “ESAF Small Finance Bank”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the ESAF Small Finance Bank IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “ESAF Small Finance Bank”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the ESAF Small Finance Bank IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “ESAF Small Finance Bank”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is ESAF Small Finance Bank IPO Size? ESAF Small Finance Bank IPO size is ₹463.00 Crore. |
| What is ESAF Small Finance Bank IPO Price Band? ESAF Small Finance Bank IPO Price Band is ₹57 to ₹60. |
| What is ESAF Small Finance Bank IPO Minimum and Maximum Lot Size? The minimum bid is 250 Shares with ₹15,000 amount while the maximum bid is 3,250 Shares with ₹1,95,000. |
| What is the ESAF Small Finance Bank IPO Allotment Date? ESAF Small Finance Bank IPO allotment date is 10 November 2023. |
| What is the ESAF Small Finance Bank IPO Listing Date? ESAF Small Finance Bank IPO listing date is 16 November 2023. The IPO is to list on BSE and NSE. |
