ESAF Bank IPO GMP, price, date, Allotment 2023

ESAF  Bank IPO description – ESAF Bank limited  is coming up with its Initial public offering. The IPO will be open for subscription on 31th October 2023


ESAF Bank IPO – Details

ESAF Small Finance Bank IPO Dates 3 – 7 November 2023
ESAF Small Finance Bank IPO Price INR 57 – 60 per share
Fresh issue INR 390.7 crore
Offer For Sale INR 72.3 crore
Total IPO size INR 463 crore
Minimum bid (lot size) 250 shares (INR 15,000)
Face Value  INR 10 per share
Retail Allocation 35%
Listing On BSE, NSE


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ESAF Small Finance Bank IPO – Date Schedule


IPO Open Date 03 November 2023
IPO Close Date 07 November 2023
Basis of Allotment Date 10 November 2023
Initiation of Refund 13 November 2023
Credit of Shares to Demat Account 15 November 2023
IPO Listing Date 16 November 2023
Cut-off time for UPI mandate confirmation 5 PM on 07 November 2023



ESAF small finance Bank IPO GMP, price, date, Allotment 2023
ESAF small finance Bank IPO GMP, price, date, Allotment 2023



ESAF Bank IPO- about company 


ESAF is a Small Finance Bank mainly focusing on providing loans to rural and semi-urban customers.

The Bank’s products consist of:

  • Micro Loans,
  • Retail loans,
  • MSME loans,
  • Loans to financial institutions; and
  • Agricultural loans.

As of 30 June 2023, Bank has a network of 700 banking outlets (including 59 business correspondent-operated banking outlets), 767 customer service centers (which are operated by the business correspondents), 22 business correspondents, 2,116 banking agents, 525 business facilitators and 559 ATMs spread across 21 states and two union territories, serving 7.15 million customers.

Bank offers convenience banking through various digital platforms such as an internet banking portal, a mobile banking platform, SMS alerts, bill payments and RuPay branded ATM cum debit cards.

As of 31st March 2022, the Bank has provided employment to 4100 people.


ESAF Bank IPO- industry overview 


In order to promote financial inclusion, the Indian banking industry has seen several changes in recent years. NBFCs, such as Bandhan and IDFC, received permission to set up universal banks.

Also, a few microfinance companies, a local area banks and an NBFC as well as one urban co-operating bank have received permission to set up small finance banks (SFBs). The RBI awarded SFB licences to 12 players keeping in with the government’s focus on financial inclusion and inclusive banking. 


ESAF Bank Financial Performance


  FY 2021 FY 2022 FY 2023
Revenue 1,641.17 1,939.93 2,853.66
Expenses 1,663.03 2,092.78 2,839.24
Net income 105.40 54.73 302.33
Margin (%) 6.42 2.82 10.59

Figures in INR Crores


ESAF Bank Valuations & Margins

FY 2021 FY 2022 FY 2023
EPS 2.46 1.22 6.71
PE ratio 8.49 – 8.94
RONW (%) 7.80 3.89 17.69
NAV 30.08 31.30 38.03
ROE (%) 8.85 4.12 19.36
EBITDA (%) 17.36 11.37 21.99

*Compiled by IPO Central from Prospectus


ESAF Small Finance Bank IPO Prospectus



ESAF Bank IPO- Competitive Strengths


  • In-depth knowledge of the Microloan segment helped ESAF to grow outside Kerela.
  • Main focus on rural and semi-urban banking franchise.
  • Strong customer relationships driven by Bank’s customer-centric products.
  • Growing Retail Deposits portfolio.
  • Technology-driven model with a digital technology platform.
  • Experienced Board, Key Managerial Personnel and Senior Management Personnel.


Object Of The Issue


The Net Proceeds are proposed to be utilized towards augmentation of the Bank’s Tier-I capital base to meet the Bank’s future capital requirements which are expected to arise out of growth in the Bank’s assets, primarily the Bank’s loans/advances and investment portfolio and to ensure compliance with regulatory requirements on capital adequacy prescribed by the RBI from time to time. The Bank expects to receive the benefits of listing the Equity Shares on the Stock Exchanges.




Date IPO GMP Kostak Subject to Sauda

ESAF Bank IPO Allotment Status


ESAF Bank IPO allotment status will be available on Link Intime’s website. Click on Link Intime IPO weblink to get allotment status.

ESAF Small Finance Bank IPO – Lots Size & Price


Application Lots Shares Amount
Retail (Min) 1 250 15,000
Retail (Max) 13 3,250 1,95,000
S-HNI (Min) 14 3,500 2,10,000
S-HNI (Max) 66 16,500 9,90,000
B-HNI (Min) 67 16,750 10,05,000




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