ESAF Small Finance Bank IPO: 70% subscribed on first day so far; Retail portion fully booked

The IPO of ESAF Small Finance Bank has reserved not less than 50% of the shares of the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional investors (NII) and not less than 35% of the offer reserved for retail investors . A discount of ₹5 per share will be offered to eligible employees who bid into the employee reserve portion.

Also Read: ESAF Small Finance Bank IPO starts today: GMP, issue details, verification, here are 10 important things you should know

On the first day, the retail investor portion of the ESAF Small Finance Bank IPO was subscribed 1.09 times, the NII portion was subscribed 73%, the qualified institutional buyer (QIB) portion is yet to be booked and the employee portion was 61% drawn.

ESAF Small IPO subscription status

According to BSE data, ESAF Small Finance Bank’s IPO received offers for 4,02,18,500 shares against 5,77,28,408 shares on offer.

The retail investor portion of the ESAF IPO received offers for 3,00,64,500 shares as against 2,76,62,281 shares offered for this segment.

Also Read: ESAF Small Finance Bank IPO starts on November 3, price range is ₹57 to ₹60 per share

The non-institutional investor portion of ESAF Bank received offers for 86,73,250 shares against 1,18,55,264 shares offered for this segment.

The Qualified Institutional Buyers (QIBs) portion of the ESAF Small IPO received offers for 3,500 shares against 1,58,07,017 shares offered for this segment.

The IPO employee share of ESAF Small Finance Bank received offers for 14,77,250 shares against 24,03,846 shares offered for this segment.

Also Read: ESAF Small Finance Bank – 7 Key Risks to Consider Before Subscribing to IPO

ESAF Small Finance Bank IPO details

ESAF Bank’s IPO includes a new issue of shares worth ₹390.7 crore by the company and an offer for sale (OFS) of shares worth ₹72.3 crore from three shareholders. The company is planning an increase ₹463 crore from the IPO.

In the OFS, the promoter ESAF Financial Holdings will sell shares worth ₹49.26 crore, while PNB MetLife India Insurance Company and Bajaj Allianz Life Insurance Company will offload shares worth 49.26 crore ₹23.04 crore.

Also Read: ESAF Small Finance Bank IPO Raised ₹135 crore from anchor investors; Check the details

ESAF Small Finance Bank IPO Dates

ESAF Small Finance Bank’s preliminary listing date is scheduled for Thursday, November 16. The allotment date for ESAF Small Finance Bank’s IPO has been set for Friday, November 10. If the company switches to T+3 norms, the dates will change accordingly.

ESAF Small Finance Bank IPO GMP today

ESAF Small Finance Bank’s IPO GMP today or gray market premium is +22, similar to the previous session. This suggests that ESAF Small Finance Bank share price was trading at a premium of ₹22 on the gray market on Friday, according to investorgain.com.

Taking into account the upper end of the IPO price range and the current premium in the gray market, the estimated listing price of the ESAF Small Finance Bank share has been provided ₹82 per piece, which is 36.67% higher than the IPO price of ₹60.

“Gray market premium” indicates investors’ willingness to pay more than the issue price.

Also Read: ESAF Small Finance Bank IPO: GMP, Subscription Status, Verification, Other Details. Apply or not?

Disclaimer: The above views and recommendations are those of individual analysts, experts and brokerage firms, not Mint. We recommend investors consult certified experts before making an investment decision.

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Updated: 03 Nov 2023, 01:41 PM IST

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