ESAF Small Finance Bank Ltd. IPO
IPO Timeline
Category-wise Subscription
| Category | Sub (x) | Offered | Bid For | Amt (Cr)* |
|---|---|---|---|---|
| QIB | — | 37,541,665 (49%) | — | ₹22,525 Cr |
| NII (HNI) | — | 11,262,500 (15%) | — | ₹6,758 Cr |
| Retail | — | 26,279,167 (34%) | — | ₹15,768 Cr |
| Employee | — | 2,272,727 (3%) | — | ₹136 Cr |
| Σ Total | — | 77,356,059 (100%) | — | ₹464,136 Cr |
Only available investor categories are shown. Amount is auto-calculated when shares offered and issue price are available.
Issue Details
Minimum Investment (Lot-wise)
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 250 | ₹15,000 |
| Retail (Max) | 13 | 3,250 | ₹195,000 |
| S-HNI (Min) | 14 | 3,500 | ₹210,000 |
| B-HNI (Min) | 67 | 16,750 | ₹1,005,000 |
Financial Statements Amount in Crore
| Metric | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Revenue | 992 | 3,142 | 2,148 |
| Profit After Tax | 130 | 302 | 55 |
| Net Worth | 1,839 | 1,709 | 1,407 |
| Total Assets | 20,796 | 20,224 | 17,708 |
| Reserves & Surplus | 1,390 | 1,260 | 957 |
| Total Borrowing | 2,739 | 3,354 | 2,953 |
Valuation & Key Ratios
Grey Market Premium (GMP)
GMP is an unofficial grey market indicator and does not guarantee actual listing price. Invest at your own risk.
Objects of the Issue
- 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. –
- The Bank expects to receive the benefits of listing the Equity Shares on the Stock Exchanges. –
Company Overview
Incorporated in 1992, ESAF is a small finance bank that focuses mainly on lending to rural and semi-urban customers. The company's lending includes (a) microcredit, which includes microfinance loans and other microloans; (b) retail loans, which include gold loans, mortgages, personal loans and vehicle loans; (c) MSME loans; (d) loans to financial institutions; and (e) agricultural loans. ESAF Small Finance Bank Limited has a network of 700 banking outlets (including 59 banking outlets operated by business correspondents), 767 customer service centres, 22 business correspondents, 2,116 banking agents, 525 business introducers and 559 ATMs across 21 states and two Union Territories, serving 7.15 million customers as of June 30, 2023. As of March 31, 2022, the bank employed 4,100 people. In Kerela, the company is represented in all 14 districts. The company's target customers for microfinance and other microloans are women in unbanked and underbanked households in India. As of June 30, 2023, ESAF had over 3.25 million microcredit clients.
ESAF BANK has increased the number of branches offering gold loans from 345 branches or 62.73% of 550 branches as of March 31, 2021 to 551 branches or 85.96% of 641 branches as of June 30, 2023.
The Bank's core strength lies in the following areas
In-depth knowledge of the microcredit segment has enabled ESAF to grow beyond Kerela's strong presence in rural and semi-urban areas
The bank's customer-centric products foster strong customer relationships.
Digital technology platform for convenient banking