ESAF Small Finance Bank IPO is a book built issue of Rs 463.00 crores. The issue is a combination of fresh issue of Rs 390.70 crores and offer for sale of Rs 72.30 crores.
ESAF Small Finance Bank IPO opens for subscription on November 3, 2023 and closes on November 7, 2023. The allotment for the ESAF Small Finance Bank IPO is expected to be finalized on Friday, November 10, 2023. ESAF Small Finance Bank IPO will list on BSE, NSE with tentative listing date fixed as Thursday, November 16, 2023.
Incorporated in 1992, ESAF is a Small Finance Bank mainly focusing on providing loans to rural and semi-urban customers. The Bank’s products consist of (a) Micro Loans, (b) retail loans, (c) MSME loans; (d) loans to financial institutions; and (e) agricultural loans. As of March 2023, Bank has a network of 700 outlets, 743 customer service centers, 20 business correspondents and 481 business facilitators. The Bank has 581 ATM’s located across 21 states of India.
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.
The core strength of the bank lies in the following:-
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 Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 20,795.94 | 20,223.66 | 17,707.56 | 12,338.65 |
| Revenue | 991.78 | 3,141.57 | 2,147.51 | 1,768.42 |
| Profit After Tax | 129.96 | 302.33 | 54.73 | 105.40 |
| Net Worth | 1,839.09 | 1,709.13 | 1,406.80 | 1,352.06 |
| Reserves and Surplus | 1,389.62 | 1,259.66 | 957.32 | 902.59 |
| Total Borrowing | 2,739.13 | 3,354.20 | 2,952.83 | 1,694.00 |
| Amount in ₹ Crore | ||||
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 opens on November 3, 2023, and closes on November 7, 2023.
| IPO Open Date | Friday, November 3, 2023 |
| IPO Close Date | Tuesday, November 7, 2023 |
| Basis of Allotment | Friday, November 10, 2023 |
| Initiation of Refunds | Monday, November 13, 2023 |
| Credit of Shares to Demat | Wednesday, November 15, 2023 |
| Listing Date | Thursday, November 16, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 7, 2023 |
As per our analysis and Based on the information we have, this is the output.
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