Home/Article/ESAF Small Finance Bank IPO: ESAF IPO Date, Share Price And Details
ESAF Small Finance Bank IPO: ESAF IPO Date, Share Price And Details
14 Jul 2023

One of the latest entrants in the bustling upcoming IPO market is ESAF Small Finance Bank Limited. Due to the COVID-19 pandemic and the ensuing lockdowns, the company couldn’t go through with their new IPO earlier. But as the markets have long since recovered from their lows, the company has now restarted its plan to issue its shares to the public.

If you’re interested in getting to know more details about the ESAF Small Finance Bank IPO, then you’ve come to the right place. Here’s some important news about the latest IPO from ESAF Small Finance Bank Limited. Discover the latest updates and insights on the upcoming IPOs 2023!

About the company

Incorporated in 2016, ESAF Small Finance Bank Limited is a relatively new entrant into the already populated banking space. Within a short period of just 4 years, the company has managed to quickly grow in size and strength. ESAF Small Finance Bank currently has over 400 branches across the country and more than 4,000 employees.

Backed by an unwavering motive to serve the unserved and the underserved segment of the Indian population, the company has shown tremendous improvement in its financials. In fact, the company’s net after tax income as on the 31st of March, 2019 stood at a handsome Rs. 111.11 crores.   

The company also enjoys a diversified product portfolio that caters to not only the underserved segment, but also customers originating from Tier-1, Tier-2, and Tier-3 cities. With the upcoming IPO, the company now plans to boost its capital base in order to be able to meet future capital requirements. 

Details of the ESAF Small Finance Bank IPO

Let’s take a look at some of the important ESAF IPO details including the ESAF Small Finance Bank share price, the ESAF IPO date, and other relevant news on this latest IPO. 

ESAF Small Finance Bank IPO date

Since the company has only filed a Draft Red Herring Prospectus with the SEBI as of date, the date of opening of the ESAF IPO is still not clear. However, the date of offer can be expected to be released to the public once the company files the final Red Herring Prospectus with regard to their new IPO.

ESAF Small Finance Bank IPO issue size

The total issue size of the ESAF IPO stands at around Rs. 976.24 crores, of which Rs. 800 crores is likely to come from a fresh issue of shares by the company. The upcoming IPO issue consists of an Offer for Sale (OFS) component as well, which is likely to come up to around Rs. 176.24 crores.

The detailed breakup of the promoters and the aggregate value of their stake sale through the OFS route of this new IPO are as follows.

- Promoter selling shareholder - Rs. 150 crores

- Bajaj Allianz Life Insurance Company - Rs. 17.49 crores

- PI Ventures LLP - Rs. 8.75 crores      

In addition to this, the company may also be looking towards a pre-IPO placement of around Rs. 300 crores. If ESAF Small Finance Bank succeeds in selling its shares worth Rs. 300 crores via the pre-IPO placement route, an equivalent amount would then be reduced from the fresh issue component of the IPO. The revised fresh issue component of the IPO would thus be Rs. 500 crores if the pre-IPO placement takes place successfully.

ESAF Small Finance Bank share price band

Now that you’re acquainted with the issue size of the latest IPO from the company, let’s take a look at the ESAF Bank share price band for this issue.

The ESAF share price band for this IPO issue has not been notified by the company as on this date. However, considering the fact that the ESAF Bank share price face value is just Rs. 10 per share, the ESAF Bank share price band is likely to carry a hefty premium. More clarity on the ESAF share price can be expected once the company files the final Red Herring Prospectus (RHP) with SEBI.

ESAF Small Finance Bank IPO listing

The company has received in-principle approvals from both the Bombay Stock Exchange (BSE) as well as the National Stock Exchange (NSE) with respect to the listing of its shares.

Now all you need, is an online demat account to invest in the upcoming ESAF Small Finance Bank IPO and make the most of your investments!


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