What is the issue size of ESAF Small Finance Bank IPO?

The issue size of the ESAF Small Finance Bank IPO is Rs 463 cr

What is 'pre-apply' for ESAF Small Finance Bank IPO?

Pre-apply will alow you to apply for the ESAF Small Finance Bank IPO 2 days before the subscription period starts.

If I pre-apply for ESAF Small Finance Bank IPO, when will my order get placed?

Your order will be placed on the exchange as soon as the ESAF Small Finance Bank IPO bidding starts. You will receive a UPI request within 24 hours after the bidding period opens.

When will I know if my ESAF Small Finance Bank IPO order is placed?

We will notify you when your ESAF Small Finance Bank IPO order is placed with the exchange.

What are the open and close dates of the for ESAF Small Finance Bank IPO?

ESAF Small Finance Bank IPO will be open between 3 Nov - 7 Nov, 2023.

What is the lot size and minimum order quantity of the ESAF Small Finance Bank IPO?

ESAF Small Finance Bank Limited IPO lot size is 250 shares.

What are the allotment dates for the ESAF Small Finance Bank IPO?

ESAF Small Finance Bank IPO allotment date is 10 Nov, 2023. For ESAF Small Finance Bank IPO allotment status check, you can visit the website of the registrar of the IPO.

Who is the registrar of ESAF Small Finance Bank IPO?

ESAF Small Finance Bank IPO registrar is Link Intime India Private Ltd. You can check ESAF Small Finance Bank IPO allotment status on the website of the registrar.

Where is the ESAF Small Finance Bank IPO getting listed?

The shares are proposed to be listed on BSE and NSE.

ESAF Small Finance Bank IPO

ESAF Small Finance Bank Limited

₹14,250 /250 sharesMinimum Investment

ESAF Small Finance Bank IPO Listing DetailsListed OnIssue PriceListing PriceListing Gains
NSE₹60.00₹71.00₹11.00 (18.33%)
ESAF Small Finance Bank IPO DetailsBidding DatesMin. InvestmentLot SizePrice Range
3 Nov ‘23 - 7 Nov ‘23₹14,250250₹57 - ₹60
Issue SizeIPO Doc
463.00CrRHP PDF
Subscription Status As on Invalid DateQualified Institutional Buyers
173.52x
Non-Institutional Investor
84.37x
Retail Individual Investor
16.97x
Employees
4.36x
Total
73.15x
About ESAF Small Finance BankESAF Small Finance Bank is a financial institution that focuses on serving unbanked and under-banked customers, particularly in rural and semi-urban areas.
Their core offerings consist of two categories: advances (assets) and deposits (liabilities). The advances include micro-loans (comprising microfinance loans and other microloans), retail loans (including gold loans, mortgages, personal loans, and vehicle loans), MSME loans, loans to financial institutions, and agricultural loans. On the other hand, their liability products encompass current accounts, savings accounts, term deposits, and recurring deposits.
ESAF Small Finance Bank offers a range of services to its customers, including safety deposit lockers, foreign currency exchange, access to the Bharat Bill Payment System, money transfer services, and Aadhaar Seva Kendra services. Additionally, they distribute third-party life and general insurance policies, as well as government pension products.
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Parent Organisation
ESAF Small Finance Bank Limited
Founded
2016
Managing Director
Mr. Kadambelil Paul Thomas
https://www.youtube.com/watch?v=3dEaxQVwS8w
Strengths & Risks
As of June 30, 2023, ESAF Small Finance Bank served over 3.25 million customers with Micro Loans, and a significant majority of these customers were women. 
As of June 30, 2023, their products and services were available in 21 states and two union territories in India.
Their gross micro-loans outside Kerala amounted to Rs. 4330.5 crore as of June 30, 2023. The top five states, excluding Kerala, with the highest gross microloans were Tamil Nadu, Maharashtra, Madhya Pradesh, Karnataka, and Chhattisgarh. These states collectively held Rs. 5043.7 crore, representing 49.27% of their total gross microloans.
Their customer base in rural and semi-urban areas increased from 3 million as of March 31, 2021, to 4.07 million as of June 30, 2023. 
In 2023, ESAF Small Finance Bank was honored with the 'Excellence in Customer Service and Product Distribution' award, the 'Best Customer Experience Bank of the Year' award, and the 'Innovative Bank of the Year' award. 
ESAF Small Finance Bank's total deposits increased from Rs. 8999.4 crore as of March 31, 2021, to Rs. 15655.85 crore as of June 30, 2023. This represents a Compound Annual Growth Rate (CAGR) of 27.66%.
Their NRI deposits also experienced growth, rising from Rs. 2019.15 crore as of March 31, 2021, to Rs. 3285.33 crore as of June 30, 2023. This growth amounted to a CAGR of 25.22%.
As of June 30, 2023, and March 31, 2023, as well as in 2022 and 2021, 74.70%, 75.04%, 81.16%, and 84.80%, respectively, of the total advances managed by ESAF Small Finance Bank consisted of microloans. A decrease in demand for these microloans could potentially have a negative impact on the bank's business, financial health, and cash flows.
As of June 30, 2023, and March 31, 2023, 2022, and 2021, 75.15%, 75.35%, 83.59%, and 85.50% of the advances were unsecured. If the bank cannot recover these advances promptly, it may adversely affect its financial condition, results, and cash flows.
ESAF Small Finance Bank primarily operates in South India, specifically in Andhra Pradesh, Karnataka, Kerala, Tamil Nadu, Telangana, and the Union Territory of Puducherry. Any negative changes in the economy of South India could adversely affect the bank's financial situation and cash flows.
As of March 31, 2023, the bank failed to meet 17 of the 272 Risk-Based Supervision (RBS) Tranche III requirements. Penalties imposed by the Reserve Bank of India (RBI) for this non-compliance could harm the bank's reputation, financial condition, and cash flows.
Additionally, two of the bank's selling shareholders, PNB MetLife and Bajaj Allianz, have faced orders and penalties from the Insurance Regulatory and Development Authority of India (IRDAI) and the Securities and Exchange Board of India (SEBI). 
The bank must establish a reserve fund by transferring at least 25% of the annual profit disclosed in the profit and loss account before declaring any dividends. 
As of June 30, 2023, and March 31, 2023, 2022 and 2021, the gross non-performing advances (NPAs) as a percentage of gross advances were 1.65%, 2.49%, 7.83%, and 6.70%, respectively. Ineffective control over the level of gross NPAs or an inability to improve the Provision Coverage Ratio could adversely affect the bank's business, financial condition, and cash flows.
The bank, along with its promoters, is involved in several significant legal proceedings, including 862 criminal proceedings, with a total amount involved of Rs. 7.89 crores. Any unfavorable developments in these cases could potentially harm the bank's reputation, business, and cash flows.
Financials
*All values are in Rs. Cr
No Graph Data To Display
Application detailsApply asPrice bandApply upto
Regular₹57 - 60₹2 Lakh
Employee₹52 - 55₹2 Lakh
High Networth Individual₹57 - 60₹2 - 5 Lakh
For ESAF Small Finance Bank IPO, eligible investors can apply as Regular & Employee.

Listed On	Issue Price	Listing Price	Listing Gains
NSE	₹60.00	₹71.00	₹11.00 (18.33%)

Bidding Dates	Min. Investment	Lot Size	Price Range
3 Nov ‘23 - 7 Nov ‘23	₹14,250	250	₹57 - ₹60

Issue Size	IPO Doc
463.00Cr	RHP PDF

Apply as	Price band	Apply upto
Regular	₹57 - 60	₹2 Lakh
Employee	₹52 - 55	₹2 Lakh
High Networth Individual	₹57 - 60	₹2 - 5 Lakh

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