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Complete IPO details, including price band, financials, subscription status, and key insights.
Participate in the ESAF Small Finance Bank Ltd IPO with full transparency. Review issue details, company fundamentals, and financial performance, and apply securely through Alice Blue.
Key metrics and details at a glance.
Price Band
₹60
Per ShareLot Size
250 Shares
Minimum Investment
₹15,000
Issue Size
₹463 Cr
Face Value
₹10
Per ShareIPO Type
Book Building
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
Important dates for your applying strategy.
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
69.4%
Promoter Holding (Post-Issue)
60.6%
Issue Type
Book Building
ISIN
INE818W01011
ESAF Small Finance Bank Limited is a small finance bank headquartered in Kerala with a focus on unbanked and under-banked customer segments, especially in rural and semi-urban centres. Its primary products are its advances and deposits (current accounts, savings accounts, term deposits and recurring deposits). Its advances comprise: (a) micro loans, comprising microfinance loans (loans made in compliance with RBI Regulatory Framework for Microfinance Loans Direction, 2022) and other micro loans; (b) retail loans, which includes gold loans, mortgages, personal loans, and vehicle loans; (c) loans to micro, small and medium enterprises (MSMEs); (d) loans to financial institutions; and (e) agricultural loans.
Small finance banks aim to service the underserved through savings instruments, and supplying credit to small business units, small and marginal farmers, micro and small industries, and other unorganized sector/lending through informal channels. The 12 small finance banks, including it, cumulatively accounted for approximately 13% of the total AUM of the industry as of June 30, 2023. Small finance banks advances under management (AUM) clocked 29% CAGR from March 31, 2018 to June 30, 2023 and CRISIL MI&A expects this to increase by a CAGR of 22-24% between June 30, 2023 and March 31, 2025.
Revenue, profit after tax and total assets across the last 3 reported financial years.
Amount in ₹ crore
How the company plans to utilize IPO proceeds.
The funds raised through this IPO will be used for:
Initial public offer of 77,356,059* equity shares of face value of Rs. 10 each ("Equity Shares") of ESAF Small Finance Bank Limited ("Bank" or "Issuer") for cash at a price of Rs. 60^ per equity share (including a share premium of Rs. 50 per equity share) aggregating to Rs. 463.00* crores (the "Offer") comprising a fresh issue of 65,306,060* equity shares aggregating to Rs. 390.70* crores (the "Fresh Issue") and an offer for sale of 12,049,999* equity shares aggregating to Rs. 72.30* crores ("The Offer for Sale"), comprising 8,210,000* equity shares aggregating to Rs. 49.26* crores by the promoter selling shareholder (as defined hereunder), and 2,111,666* equity shares aggregating to Rs. 12.67* crores by PNB Metlife India Insurance Company Limited and 1,728,333* equity shares aggregating to Rs. 10.37* crores by Bajaj Allianz Life Insurance Company Limited (the "Other Selling Shareholders" and together with the promoter selling shareholder, the "Selling Shareholders", and such equity shares the "Offered Shares"). The offer included a reservation of 2,272,727* equity shares, aggregating to Rs. 12.50^^ crores (constituting 0.44% of the post-offer paid-up equity share capital), for subscription by eligible employees ("Employee Reservation Portion"). The bank and the promoter selling shareholder, in consultation with the brlms has offered a discount of 8.33% of the offer price to eligible employees bidding in the employee reservation portion ("Employee Discount"). The offer, less the employee reservation portion is hereinafter referred to as the "Net Offer". The offer and the net offer constitute 15.03% and 14.59%, respectively, of the post-offer paid-up equity share capital of the bank. The face value of equity shares is Rs. 10 each. The offer price is 6.00 times the face value of the equity shares. ^A discount of Rs. 5 per equity share was offered to eligible employees bidding in the employee reservation portion. ^^After employee discount *Subject to finalisation of basis of allotment
*Subject to approvals and market conditions.
Key competitive advantages and factors to consider before investing.
Live demand across investor categories.
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*Real-time data subject to exchange updates
The Bank was incorporated as `ESAF Small Finance Bank Limited' on May 5, 2016 at Thrissur, Kerala, as a public limited company under the Companies Act, 2013, and was granted the certificate of incorporation by the Registrar of Companies, Kerala at Ernakulam ("RoC"). Its Corporate Promoter, ESAF Financial Holdings Private Limited was granted in-principle approval to establish a small finance bank ("SFB"), by the RBI, pursuant to its letter dated October 7, 2015. Subsequently, the Bank received the final approval to carry on the SFB business in India, pursuant to a letter dated November 18, 2016 issued by the RBI. The Bank commenced its business with effect from March 10, 2017 and was included in the second schedule to the RBI Act pursuant to a notification dated November 12, 2018 issued by the RBI.
Microfinance loan customers
Amount in ₹ crore
Amount in ₹ crore
Figures in ₹ crore, on a standalone basis, as reported for FY24 to FY26.