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Business News/ Markets / Ipo/  ESAF Small Finance Bank IPO day 1: Issue subscribed 1.74 times; retail, NII portion fully booked
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ESAF Small Finance Bank IPO day 1: Issue subscribed 1.74 times; retail, NII portion fully booked

ESAF Small Finance Bank IPO subscribed 1.74 times on day 1, with retail investors portion subscribed 1.98 times. ESAF Small Finance Bank IPO listing date scheduled for November 16, with estimated listing price of ₹82 per share.

ESAF Small Finance Bank IPO open for subscription. (Image: Company Website)Premium
ESAF Small Finance Bank IPO open for subscription. (Image: Company Website)

ESAF Small Finance Bank IPO subscription status: ESAF Small Finance Bank IPO has been subscribed 1.74 times on day 1. ESAF Small Finance Bank IPO is open for subscription today (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.

Also Read: ESAF Small Finance Bank IPO opens today: GMP, issue details, review, here are 10 key things to know

On day 1, ESAF Small Finance Bank IPO retail investors portion was subscribed 1.98 times, NII portion was subscribed 2.44 times, and Qualified Institutional Buyers (QIB) portion was booked 90%, and employee portion was subscribed 1.01 times.

ESAF Small IPO subscription status

ESAF Small Finance Bank IPO has received bids for 10,04,85,750 shares against 5,77,28,408 shares on offer, according to data from the BSE.

ESAF IPO retail investors' portion received bids for 5,48,31,250 shares against 2,76,62,281 shares on offer for this segment.

Also Read: ESAF Small Finance Bank IPO opens on November 3, price band set at 57 to 60 per share

ESAF Bank's non-institutional investors' portion received bids for 2,89,25,250 shares against 1,18,55,264 on offer for this segment.

ESAF Small IPO's Qualified Institutional Buyers (QIBs) portion received bids for 1,42,94,750 shares against 1,58,07,017 shares on offer for this segment.

ESAF Small Finance Bank IPO employee portion received bids for 24,34,500 shares against 24,03,846 on offer for this segment.

Also Read: ESAF Small Finance Bank- 7 key risks to consider before subscribing to the IPO

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.

Also Read: ESAF Small Finance Bank IPO raises 135 crore from anchor investors; check details

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.

ESAF Small Finance Bank IPO GMP today

ESAF Small Finance Bank IPO GMP today or grey market premium is +22, similar to the previous session. This indicates ESAF Small Finance Bank share price were trading at a premium of 22 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 82 apiece, which is 36.67% 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: GMP, subscription status, review, other details. Apply or not?

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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Published: 03 Nov 2023, 01:41 PM IST
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