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Business News/ Markets / Ipo/  ESAF Small Finance Bank IPO day 3: Issue subscribed over 73 times, retail portion booked 16.97 times
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ESAF Small Finance Bank IPO day 3: Issue subscribed over 73 times, retail portion booked 16.97 times

ESAF Small Finance Bank IPO subscribed 73.15 times on day 3.

ESAF Small Finance Bank IPO opened for subscription on Friday, November 3, and will close on Tuesday, November 7. (Equitypandit)Premium
ESAF Small Finance Bank IPO opened for subscription on Friday, November 3, and will close on Tuesday, November 7. (Equitypandit)

ESAF Small Finance Bank IPO subscription status: ESAF Small Finance Bank IPO has been subscribed 73.15 times on day 3. ESAF Small Finance Bank IPO opened for subscription on Friday, November 3, and will close on Tuesday, November 7. ESAF Small Finance Bank IPO price band has been fixed in the range of 57 to 60 per equity share of face value of 10. ESAF Small Finance Bank lot size is 250 equity shares and in multiples of 250 equity shares thereafter.

ESAF Small Finance Bank IPO has reserved not more than 50% of the shares in 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 is reserved for Retail Investors. A discount of 5 per equity share is being offered to eligible employees bidding in the employee reserve portion.

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On day 3, 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.

Also Read: ESAF Small Finance Bank IPO day 2: Issue subscribed 8.32 times; retail, NII portion sees huge demand

ESAF Small IPO subscription status

ESAF Small Finance Bank IPO has received bids for 4,22,30,07,500 shares against 5,77,28,408 shares on offer, according to data from the BSE.

ESAF IPO retail investors' portion received bids for 46,94,00,000 shares against 2,76,62,281 shares on offer for this segment.

ESAF Bank's non-institutional investors' portion received bids for 1,00,02,30,750 shares against 1,18,55,264 on offer for this segment.

ESAF Small IPO's Qualified Institutional Buyers (QIBs) portion received bids for 2,74,28,94,000 shares against 1,58,07,017 shares on offer for this segment.

ESAF Small Finance Bank IPO employee portion received bids for 1,04,82,750 shares against 24,03,846 on offer for this segment.

Also Read: ESAF Small Finance Bank IPO bidding ends today: Check GMP, subscription status and brokerage reviews

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.

ESAF Small Finance Bank IPO dates

Tentative ESAF Small Finance Bank listing date is scheduled for Thursday, November 16. ESAF Small Finance Bank IPO allotment date has been fixed for Friday, November 10. If the company switches to T+3 norms then the dates will change accordingly.

Also Read: ESAF Small Finance Bank IPO: GMP, subscription status on day 2, review, other details. Should you subscribe?

ESAF Small Finance Bank IPO GMP today

ESAF Small Finance Bank IPO GMP today or grey market premium is +20. This indicates ESAF Small Finance Bank share price were trading at a premium of 20 in the grey market on Tuesday, according to investorgain.com. It was +19 in the previous session.

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 80 apiece, which is 33.33% higher than the IPO price of 60.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: ESAF Small Finance Bank IPO day 1: Issue subscribed 1.74 times; retail, NII portion fully booked

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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Published: 07 Nov 2023, 04:39 PM IST
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