November 10, 2023
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Esaf IPO GMP today Details @ Chanakyanipothi.com the Oldest & the most Trusted Investment website in India. Operational since 8th December 1999, this is the Only Investment website in India, which has successfully completed 23 Years.
Esaf Bank IPO Guidance:
1.Being mainboard IPO, the Size of the IPO is very small (Just Rs. 463 Cr.)
2. HNI & retail portions are very small (Rs.69.45 cr & Rs. 162.05 Cr.), and small premium prevails at present in the grey market, so oversubscription in both categories are possible.
3. The shares are offered at reasonable valuation compared to peer SF banks.
4. Apply for small listing gains as well as with long term angle.
Esaf
IPO GMP Today
Grey Market Premium: Rs.18
Kostak Rs. 4000
Subject to Rs. 47600
Esaf IPO Subscription Status
On 7 November 2023 @ 5.00 (Day 3) (Closed)
Review: QIB portion response improved on D3
QIB: 15807017 Shares 182.66 T
NII(10L+): 7903509 Shares 73.41 T
NII (<10L) 3951755 Shares 96.51 T
NII (Total) 11855264 Shares 88.81 T
RII: 27662281 Shares 17.86 T
Emp: 2403846 Shares 4.59 T
Total: 57728408 Shares 77.00 T
Esaf Small Finance Bank Company Details
ESAF Small Finance Bank (“ESAF SFB”) is one of the leading small finance banks in terms of yield on advances, AUM growth rate and share of retail deposits. Along with its Promoters, ESAF SFB has a history of more than 25 years of primarily serving the unserved and underserved, with a focus on financial inclusion. Their business model focuses on the principles of responsible banking, providing customer-centric products and services through the extensive application of technology. As at November 30, 2019, they had operations in 16 states and 1 union territory, 403 Branches, 38 Ultra Small Branches and they served over 3.73 million customers.
ESAF SFB follows a social business strategy with a triple bottom line approach, emphasising people, the planet and prosperity. Its goal is to become one of India’s leading banks in the microfinance sector that offers equal opportunities through universal financial access and inclusion and livelihood and economic development. Their goal is to become one of India’s leading banks in the microfinance sector that offers equal opportunities through universal financial access and inclusion and livelihood and economic development
The strengths of the company:
* Deep understanding of the microfinance segment, which has enabled us to grow its business outside of Kerala, its home state;
* Strong rural and semi-urban banking franchise;
* Fast growing retail deposit portfolio with low concentration risk;
* Strong customer connect driven by its customer centric products and processes and other non-financial services for microfinance customers;
* Technology driven model with an advanced information technology platform; and
* Experienced Board and Key Management Personnel.
For more information, click www.esafbank.com
The promoters of Esaf Small Finance Bank
Kadambelil Paul Thomas &
Esaf Financial Holdings
Esaf Small Finance Bank IPO Main Objects
The Offer comprises of a Fresh Issue and an Offer for Sale.
The Net Proceeds are proposed to be utilised towards augmentation of the Bank’s Tier-I capital base to meet future capital requirements
Esaf IPO Details
IPO Opens on : 3 November 2023
IPO Closes on : 7 November 2023
Issue Type: Book Built Issue IPO
Issue : Up to 77166666 Equity Shares, aggregating up to Rs 463.00 crore
(i)Fresh Issue Up to 65116666 Equity Shares aggregating to Rs 390.70 Cr
(ii) Offer for Sale Up to 12050000 Equity Shares aggregating to Rs 72.30 Cr by the
Selling Shareholders
Face Value per share : Rs. 10
Esaf IPO Price Band Per Equity Share: Rs. 57-60
Esaf IPO Lot Size 250 Shares
Discount of Rs. 5 to the Employees
Esaf Listing will at BSE,NSE
Shares offered to
QIB (50%) 38583333 Shares = INR 231.50 Cr
NII (15%) 11574999 Shares = INR 69.45 Cr
RII (35%) 27008333 Shares = INR 162.05 Cr (Lot size: 250 shares = 108033 Forms)
Esaf IPO Tentative TimeTable
Price Band announced 31 October 2023
Esaf IPO Anchor List
Esaf IPO Opens on 3 November 2023
Esaf IPO Closes on 7 November 2023
Esaf IPO Allotment on 10 November 2023
Unblocking of ASBA 13 November 2023
Credit to Demat Accounts 15 November 2023
Esaf IPO Listing on 16 November 2023
Esaf IPO GMP today Details Financial Analysis:
Earnings per Share 2020-21 Rs 2.46
Earnings per Share 2021-22 Rs 1.22
Earnings per Share 2022-23 Rs 6.73
Book Value of the Share as on 31.03.2023 Rs 40.92
Return on Net Worth: 2020-21 7.80 %
Return on Net Worth: 2021-22 3.89 %
Return on Net Worth: 2022-23 17.69 %
Upper Price Band/last EPS: 8.92
Upper offer price/Book Value Ratio: 1.47
Equity Shares outstanding prior to the Offer 427,795,490 Equity Shares
Equity Shares outstanding after the Offer [?] Equity Shares
Esaf SFB IPO Peer Comparison:
Suryodaya SFB @ PE Multiple of 22.39
CreditAccess Grameen @ PE Multiple of 26.81
Spandana Sphoorty @ PE Multiple of 471.38
Bandhan Bank @ PE Multiple of 16.55
Ujjivan SFB @ PE Multiple of 9.81
Equitas SFB @ PE Multiple of 21.51
Esaf Small Finance Bank IPO Lead Managers
Axis Capital
Edelweiss Financial Services
ICICI Securities
IIFL Securities
Esaf Small Finance Bank Registrar to the IPO
Link Intime India Private Limited
Registered Office of Esaf Small Finance Bank Ltd
Building No.VII/83/8,
ESAF Bhavan,
Thrissur-Palakkad National Highway,
Mannuthy, Thrissur 680 651,
Kerala, India;
Company Secretary and Compliance Officer
Ranjith Raj P
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