BackESAF IPO listing: ESAF Small Finance Bank share price debuts at 18.33% premium at ₹71 on NSE
ESAF Small Finance Bank share price listed at ₹71, 18.33% higher than the issue price of ₹60 on NSE. ESAF Small Finance Bank IPO GMP is +16, indicated a premium of ₹16 in the grey market.
PremiumESAF Small Finance Bank IPO listing date: ESAF Small Finance Bank share price was listed on the bourses at a premium on Friday. On NSE, ESAF Small Finance share price was listed at ₹71 per share, 18.33% higher than the issue price of ₹60, and on the BSE, ESAF Small Finance Bank share price today was listed at ₹71.90.
ESAF Small Finance Bank IPO price band was fixed in the range of ₹57 to ₹60 per equity share of face value of ₹10. ESAF Small Finance Bank lot size was 250 equity shares and in multiples of 250 equity shares thereafter. ESAF Small Finance Bank IPO opened for subscription on Friday, November 3, and closed on Tuesday, November 7.
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On day 3, ESAF Small IPO was subscribed 73.15 times. ESAF Small Finance Bank IPO retail investors portion was subscribed 16.97 times, NII portion was subscribed 84.37 times, and Qualified Institutional Buyers (QIB) portion was booked 173.52 times, and employee portion was subscribed 4.36 times, according to data available at BSE.
ESAF Small Finance Bank IPO details
ESAF Bank IPO comprises a fresh issuance of equity shares worth ₹390.7 crore by the company, and an offer-for-sale (OFS) of equity shares worth ₹72.3 crore by three shareholders. The company plans to raise ₹463 crore from the IPO.
In the OFS, 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 ₹23.04 crore.
The bank proposes to utilise the net proceeds from the fresh issue to augment its Tier – I capital base to meet the future capital requirements.
The book-running lead managers for ESAF Small Finance Bank IPO are ICICI Securities, DAM Capital Advisors and Nuvama Wealth Management, while Link Intime India is the IPO registrar.
ESAF Small Finance Bank IPO GMP today
ESAF Small Finance Bank IPO GMP today or grey market premium is +16, similar to the previous session. This indicates ESAF Small Finance Bank share price were trading at a premium of ₹16 in the grey market on Friday, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of ESAF Small Finance Bank share price was indicated at ₹76 apiece, which is 26.67% higher than the IPO price of ₹60.
On last 19 sessions grey market activities, today IPO GMP trending upward and expected a strong listing. The lowest GMP is ₹0, while the highest GMP is ₹22, according to investorgain.com analysts.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
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