The ESAF Small Finance Bank IPO is worth Rs. 463 crores to open on 3rd November 2023. The Bank IPO has now comprised a fresh issuance of equity shares worth Rs. 390.7 crore by the company. It has an offer-for-sale (OFS) of the equity shares which is worth Rs. 72.3 crore by a total of three shareholders. ESAF Small Finance Bank is a Kerala-based lender. Now it is all set to launch the initial public offering (IPO) on 3rd November 2023, Friday. The company is going to raise Rs. 463 crore from the IPO which will be closing on 7th November 2023. Read this entire article to learn about all the information.
ESAF Small Finance Bank IPO
Till now ESAF Small Finance Bank IPO has not been announced. It is going to be announced soon. The public issue is the combination of an offer for sale and a fresh sale. According to the reports, the IPO comprises a fresh issuance of equity shares which are worth Rs. 390.7 crore by ESAF Small Finance Bank. It has an offer-for-sale (OFS) of equity shares which are worth Rs. 72.3 crore by a total of three shareholders. The promoter ESAF Small Holdings is going to sell the shares which are worth Rs. 49.26 crore, whereas on the other hand the PNB MetLife India Insurance Company and Bajaj Allianz Life Insurance Company which are going to offload shares which are worth Rs. 23.04 crore.
ESAF Small Finance Bank is going to finalize the basis of the allotment of IPO shares on 10 November 2023. And they are going to credit the shares into the demat accounts of eligible investors on 15th November 2023. The company might be listed on 16th November 2023 on both the stock exchanges, NSE and BSE. ESAF Small Finance Bank has already reserved almost 50% of the issue for qualified institutional buyers (QIB) and also reserved 15% for non-institutional investors and the company has also reserved 35% for retail investors in the IPO.
According to the source, the ESAF Small Finance bank has reserved the equity shares which are worth more than Rs. 12.5 crore for employment in the IPO. ESAF Small Finance Bank IPO book-running led managers are DAM Capitla Avisors, Nuvama Wealth Management, and ICICI Securities. And where on another side the Link Intime India is the IPO registrar. The company has already refiled the draft IPO papers with Sebi in July 2023 and also on 17th October 2023, the company received approval from the capital markets regulator for the IPO.