ESAF Small Finance Bank is into Financial Services-Small Finance Bank and is looking raise funds through Fresh Issue and Offer For Sale
ESAF Small Finance Bank IPO is a public offering of shares by Kadambelil Paul Thomas and ESAF Financial Holdings Pvt Ltd. The IPO will open on November 03 and will close on November 07. The price band is ₹57 to ₹60 per share and the lot size is 250 shares. The issue size is ₹463. crore. The shares are expected to be listed on BSE, NSE on November 16 (^). Some additional information that you may find useful are: AUM grew from ₹84,259.30 million as at March 31, 2021 to ₹163,312.65 million as at March 31, 2023, registering a CAGR of 39.22%. Deposits grew from ₹89,994.26 million as at March 31, 2021 to ₹146,656.25 million as at March 31, 2023, registering a CAGR of 27.66%.: (**) - based on higher price band (^) indicative date
Promoters of the company are Kadambelil Paul Thomas and ESAF Financial Holdings Pvt Ltd Currently promoters hold 74.43% stake in the company.
Watch Interactive ESAF IPO Video
Quick Pointers
- Company aims to raise between Rs 391 to 391 crs through this IPO.
- The net proceeds of the issue will be utilized to Augmentation of the Bank’s Tier - I capital base to meet the Bank’s future capital requirement.
- Anchor bidding is expected to commence one day prior to the IPO dates. Tentative anchor bidding date would be 02-Nov-23.
- Price band for the IPO has been fixed at Rs 57 to 60 per share and bid lot are in multiple of 250 shares. The implied market cap post-issue at Rs 2,953 to 3,088 crs.
- As per the tentative schedule, allotment date of this IPO is most likely on November 10 and share are expected to be listed on BSE, NSE on November 16.
- Company has direct peer competition in India'a Small Finance Bank Segment, In Listed space peers includes AU SFB, Equitas SFB, Ujjivan SFB, Jana SFB, Utkarsh SFB, Fincare SFB, Suryoday SFB and Bandhan Bank amongst others.
- ICICI Securities, DAM Capital Advisors, Nuvama Wealth Management has been appointed as Merchant Banker to the issue. Link Intime (India) Pvt. Ltd. has been appointed as official registrar of the issue.
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IPO Quick Snapshot
About Company
Estblished in 2016, ESAF Small Finance Bank is a small finance bank (“SFB”) registered with RBI. Its main focus on unbanked and under-banked customer segments, especially in rural and semi-urban areas. As on 31st March 2023, ESAF Small Finance Bank has 700 banking outlets spread across 21 states and 2 Union Territories.
AUM grew from ₹84,259.30 million as at March 31, 2021 to ₹163,312.65 million as at March 31, 2023, registering a CAGR of 39.22%. Deposits grew from ₹89,994.26 million as at March 31, 2021 to ₹146,656.25 million as at March 31, 2023, registering a CAGR of 27.66%.
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About Industry
SFBs aim to service the underserved through savings instruments, and supplying credit to small business units, small and marginal farmers, micro and small industries, and other unorganized sector/lending through informal channels. There were 12 SFBs as at Mach 31, 2023. SFBs cumulatively accounted for approximately 13% of the total AUM of the industry as of March 31, 2023. SFBs’ AUM clocked 29% CAGR from March 31, 2018 to March 31, 2023. CRISIL MI&A expects SFBs’ AUM to increase by a CAGR of 22-24% between March 31, 2023 and March 31, 2025.
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Check Allotment Status of IPO
| Please check below or visit Link Intime (India) Pvt. Ltd. link at here to check allotment status of IPO |
Source: DRHP, RHP, Company, Company Website | Logo/Images published in the article may be copyright of respective companies.
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