ESAF Small Finance Bank IPO Check Subscription

Sonali Saha
2 Min Read

ESAF Small Finance Bank launched its IPO on November 3, 2023, and it will be open until November 7, 2023. On the first day, it got more than 70% of the subscriptions. They are offering shares at a price range of INR 57 to INR 60 per share, with a lot size of 250 shares.

The bank, founded in 1992, mainly focuses on providing loans to people in rural and semi-urban areas. They offer various types of loans like microloans, retail loans, loans to small businesses, financial institutions, and agriculture. As of March 2023, the bank has 700 outlets, 743 customer service centers, and 581 ATMs in 21 Indian states.

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ESAF Small Finance Bank provides digital banking services like internet banking, mobile banking, SMS alerts, bill payments, and debit cards.

The current owners of the bank are Kadambelil Paul Thomas and ESAF Financial Holdings Private Limited. Before issuing shares, they own 74.43% of the bank, which will decrease to 62.64% after the IPO.

Money raised from the IPO will help strengthen the bank’s capital for future needs, especially for more loans and investments. The bank also hopes to benefit from having its shares listed on stock exchanges.

In the grey market, the IPO is selling at a premium of INR 22. It’s estimated that the shares might start trading at INR 82 each, which is a 36.67% increase from the IPO price of INR 60.

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Hi, my name is Sonali, I am a content writer specializing in the topics of Relationships, Travel, News, Bollywood, and More.
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