ESAF Small Finance Bank Limited IPO
ESAF Small Finance Bank Limited IPO
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ESAF Small Finance Bank Limited's completed its IPO journey with a successful listing on NSE, BSE on 10-11-2023. The public offering mobilized 7,71,66,667 Shares in total capital, comprising 6,51,16,667 Shares in fresh equity and ₹72.30 Cr in Offer for Sale shares from existing stakeholders.
The offering was conducted within the price band of ₹57 to ₹60, with minimum application lots of 250 shares. Investor participation during the 03-11-2023 to 07-11-2023 subscription window determined the final allocation pattern.
The basis of allotment was announced on 09-11-2023, finalizing share distribution to successful applicants. The listing represents a significant corporate development, providing the company with enhanced visibility and access to public capital markets.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
ESAF Small IPO About Company
Incorporated in 1992, ESAF is a Small Finance Bank primarily focused on providing loans to rural and semi-urban customers, offering micro loans, retail loans, MSME loans, loans to financial institutions, and agricultural loans. As of March 2023, the bank operates through 700 outlets, 743 customer service centers, 20 business correspondents, 481 business facilitators, and 581 ATMs across 21 states in India. ESAF also provides convenient digital banking solutions such as internet banking, mobile banking, SMS alerts, bill payments, and RuPay debit cards. As of March 2022, the bank has employed over 4,100 people.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
ESAF Small IPO Strength Factors
- Microfinance Expertise: Deep understanding of the microloan segment enabled expansion beyond Kerala.
- Strong Rural Presence: Wide reach in rural and semi-urban markets.
- Customer-Centric Approach: Strong relationships built through tailored banking products.
- Digital Banking Platform: Technology-driven convenience and operational efficiency.
ESAF Small IPO Risk Factors
NA
ESAF Small IPO Lead Manager(s)
- ICICI Securities Limited
- Dam Capital Advisors Limited
- Nuvama Wealth Management Limited
ESAF Small IPO Promoter(s)
- Kadambelil Paul Thomas
- ESAF Financial Holdings Private Limited
ESAF Small IPO FAQs
ESAF Small Finance Bank Limited IPO subscribed 77 times. The public issue subscribed 17.86 times in the retail category,182.66times in QIB, and 96.51 times in the HNI (10+) category byNovember 5, 2025 8:42:05 AM (Day 5).
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
ESAF Small IPO IPO Investor Categories
The offer proceeds will be utilised towards the following investor categories in compliance with SEBI regulations:
Qualified Institutional Buyers (QIB)
Financial Institutions, Banks, FIIs, and Mutual Funds registered with SEBI are called QIBs. In most cases, QIBs represent small investors who invest through mutual funds, ULIP schemes, and pension schemes.
Non-Institutional Investors (NII / HNI)
Retail Individual Investors (HNI), NRIs, Companies, Trusts, etc. who bid for shares worth more than ₹2 lakhs are known as Non-Institutional Bidders. Unlike QIBs, they do not need SEBI registration.
Subcategories of NII:
- sNII (Small NII – bids below ₹10 Lakhs)
For bids between ₹2–10 lakhs. One-third of NII shares are reserved for this category, also known as Small HNI (sHNI).
- bNII (Big NII – bids above ₹10 Lakhs)
For bids above ₹10 lakhs. Two-thirds of NII shares are reserved for this category, also called Big HNI (bHNI).
- sNII (Small NII – bids below ₹10 Lakhs)
Retail Individual Investors (RII)
Individual investors or NRIs who apply up to ₹2 lakhs in an IPO are considered under the RII reserved category.
Employee (EMP)
A category of eligible employees who have a reserved quota in the IPO.
Others
This includes eligible shareholders or other investors with reserved quotas in the IPO.
ESAF Small IPO FAQs
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