ESAF Small Finance Bank Makes Big Debut On Bourses

ESAF Small Finance Bank Makes Big Debut On Bourses

Lists At 20% Premium After 73x Subscription

ESAF Small Finance Bank focuses on unbanked and under-banked segments, especially in rural and semi-urban areas.

MUMBAI, Nov 10 (The CONNECT) - Shares of ESAF Small Finance Bank Limited made an impressive debut on the exchange listing at a 20% premium over the issue price.

The IPO, at a price band of ₹57-60, was subscribed 73.15 times as it received bids of 4,22,28,99,750 shares against the offered 5,77,28,408 equity shares. The issue was open from   November 3 to 7, 2023.

The scrip listed Rs 71.90 per share on BSE and Rs 71 per share on NSE, at a premium of 19.83% and 18.33% respectively. The company's share price closed at Rs 69.05 per share on the BSE, a 15.08% premium, and at Rs 68.80 per share on the NSE, a 14.67% premium.

As per NSE, the total quantity traded stood at 689.52 lakh shares, on BSE the total Quantity stood at 49.42 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 528.76 crore.

K. Paul Thomas, Founder, MD & CEO of ESAF Small Finance Bank Ltd, said in his message to investors: "Your confidence in our journey, business, and market potential forms the bedrock of our triumph…as we look ahead, we remain dedicated to delivering long-term value not only to our shareholders but also to our valued customers."

The Market Capitalization of the Company at today’s closing price stood at Rs. 3,554.55 Crore as per BSE and Rs. 3,541.68 Crore at NSE.

ESAF Small Finance Bank is a small finance bank with a focus on unbanked and under-banked customer segments, especially in rural and semi-urban centres. Its primary products are advances and deposits (current accounts, savings accounts, term deposits, and recurring deposits). Its advances comprise of Micro Loans (comprising Microfinance Loans and Other Micro Loans), retail loans (such as gold loans, mortgages, personal loans, and vehicle loans), MSME loans, loans to financial institutions, and agricultural loans.

(L-R) Mr. C. P. Gireesh, CFO,P. R. Ravi Mohan, Chairman, K. Paul Thomas, Founder, MD & CEO of ESAF Small Finance Bank Ltd and Mereena Paul, CMD, ESAF Financial Holdings Pvt. Ltd. at the Listing ceremony at BSE

It has a network of 700 banking outlets (including 59 business correspondent-operated banking outlets), 767 customer service centres (operated by its 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 as at June 30, 2023.

As of June 30, 2023, 62.97% of their gross advances were directed toward customers in rural and semi-urban areas, and 71.71% of their banking outlets were located in these regions. The bank has 72% branches present in rural and semi-urban regions as of June 30, 2023.

ICICI Securities Limited, DAM Capital Advisors Limited, and Nuvama Wealth Management Limited (formerly known as Edelweiss Securities Limited) are the book-running lead managers and Link Intime India Private Limited is the registrar to the offer. The equity shares are proposed to be listed on BSE and NSE.


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