ESAF Small Finance Bank IPO: Check subscription status, allotment status, allotment link here

8 Nov 2023 , 09:39 AM

The ESAF Small Finance Bank IPO continued to witness robust demand on the final bidding day, November 7, reaching an impressive subscription of 73.15 times. The substantial demand translated into 422.29 crore equity shares bid against the issue size of 5.77 crore shares.

The substantial subscription was bolstered by strong interest from qualified institutional buyers, who subscribed 173.52 times the allocated quota. High net-worth individuals exhibited significant support, with a subscription of 84.37 times, while retail investors subscribed 16.97 times. Employees, having a reserved portion of shares worth Rs 12.5 crore in the IPO, bid 4.36 times more than the reserved portion and will avail these shares at a discounted rate of Rs 5 per share from the final issue price.

The ESAF Small Finance Bank will soon announce the share allotment results, which, according to the tentative schedule, will be revealed on November 10. The company is set to list on bourses on November 16.

Investors who participated in the IPO can verify the allotment status of ESAF Small Finance Bank through the BSE website or its registrar’s website, Link Intime India Pvt Ltd. They will need to furnish the application number and PAN details to check the status.

The IPO, which opened on November 3, was offered within a price band of Rs 57-60 per share. ESAF Small Finance Bank aims to raise Rs 463 crore through the public issue, with the offering comprising a fresh issuance of shares valued at Rs 390.7 crore and an offer-for-sale (OFS) of shares worth Rs 72.30 crore by selling shareholders, including promoter ESAF Financial Holdings, and investors PNB MetLife India Insurance Company, and Bajaj Allianz Life Insurance Company.