ESAF Small Finance Bank IPO Review - Issue Date, Price, GMP, Subscription, Allotment, Lot Size, and Details

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ESAF Small Finance Bank Limited IPO GMP

The ESAF Small Finance Bank IPO, valued at Rs 463.00 crores, comprises a fresh issue of 6.51 crore shares worth Rs 390.70 crores and an offer for sale of 1.2 crore shares totaling Rs 72.30 crores.

The bidding phase for ESAF Small Finance Bank IPO commenced on November 3, 2023, concluding on November 7, 2023. Final allotment results were determined by November 8, 2023. Subsequently, the shares were officially listed on both the BSE and NSE exchanges on November 10, 2023.

The price band for ESAF Small Finance Bank IPO ranges from ₹57 to ₹60 per share. Retail investors need to invest a minimum of ₹15,000, with a minimum lot size of 250 shares per application. For sNII, the minimum investment is ₹210,000, equivalent to 14 lots (3,500 shares), while for bNII, it is ₹1,005,000, corresponding to 67 lots (16,750 shares).

The matter involves setting aside a maximum of 2,283,653 shares for employees, with an offer price discounted by Rs 5 compared to the issue price. ICICI Securities Limited, Dam Capital Advisors Ltd (formerly known as Idfc Securities Ltd), and Nuvama Wealth Management Limited serve as the book running lead managers for the ESAF Small Finance Bank IPO. Meanwhile, Link Intime India Private Ltd has been appointed as the registrar for the issue.

Objective of IPO.

“Offer For Sale”: - Rs. 72 Cr.

“Fresh Issue”: - Rs. 390.7 Cr.

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.