ESAF Small Finance Bank Ltd IPO
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ESAF Small Finance Bank Ltd IPO Details
Details
| Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
|---|---|---|---|---|---|
| TBA | TBA | TBA | TBA | BSE | TBA |
| IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
| 03 Nov, 23 | 07 Nov, 23 | 250 | TBA | Book Building | 10 Nov, 23 |
ESAF Small Finance Bank Ltd IPO Dates
Details
| Sector | Type |
|---|---|
| Sector | Banks - Private Sector |
| Sub Sector | NA |
| Issue Type | Book Building |
Subscription Status
*Values are in Lakhs
| Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
|---|---|---|---|
| QIB | 0x | 0 | 0 |
| NII | 0x | 0 | 0 |
| Retail | 0x | 0 | 0 |
| Employee | 0x | 0 | 0 |
| Total | 0x | 0 | 0 |
Subscription Status
Investor Type
QIB
NII
Retail
Employee
Total
*Values are in Lakhs
ESAF Small Finance Bank Ltd Financial Status
Income Statement
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 621.41 | 447.83 | 106.63 |
| EBITDA | 672.40 | 489.62 | 139.40 |
| PAT | 425.57 | 302.33 | 54.73 |
| Total Assets | 2,045.20 | 1,222.89 | 1,840.79 |
| Share Capital | 514.78 | 449.47 | 449.47 |
| Total Borrowings | 3,844.80 | 3,810.05 | 3,281.71 |
| Operating Activities (Net Cash) | 476.56 | 344.12 | 87.50 |
| Investing Activities (Net Cash) | 5,538.41 | 4,888.29 | 4,070.23 |
| Financing Activities (Net Cash) | 3,844.80 | 3,810.05 | 3,281.71 |
| Net Cashflow | 1,422.92 | 767.05 | 1,511.90 |
Particulars (in Rs. Crores)
Revenue from operations
EBITDA
PAT
Total Assets
Share Capital
Total Borrowings
Operating Activities (Net Cash)
Investing Activities (Net Cash)
Financing Activities (Net Cash)
Net Cashflow
About ESAF Small Finance Bank Ltd
The Bank was incorporated as 'ESAF Small Finance Bank Limited' on May 5, 2016 at Thrissur, Kerala, as a public limited company under the Companies Act, 2013, and was granted the certificate of incorporation by the Registrar of Companies, Kerala at Ernakulam (RoC). The Corporate Promoter, ESAF Financial Holdings Private Limited was granted in-principle approval to establish a small finance bank (SFB), by the RBI, pursuant to its letter dated October 7, 2015. Subsequently, the Bank received the final approval to carry on the SFB business in India, pursuant to a letter dated November 18, 2016 issued by the RBI. The Bank commenced its business with effect from March 10, 2017 and was included in the second schedule to the RBI Act pursuant to a notification dated November 12, 2018 issued by the RBI.
On September 16, 2015, the RBI awarded in-principle approval to 10 entities for setting up small finance banks on account of the government's focus on financial inclusion and inclusive banking. The objective of SFBs is to extend banking services to the underserved and unserved population of India through savings instruments, and supplying credit to small business units, small and marginal farmers, micro and small industries, and other unorganised sector/lending through informal channels.
ESAF Small Finance Bank Limited is one of the leading small finance banks in terms of yield on advances, AUM growth rate and share of retail deposits in total deposits. Its Corporate Promoter, was granted the RBI In-Principle Approval to establish an SFB, on October 7, 2015. The Bank was incorporated as 'ESAF Small Finance Bank Limited' on May 5, 2016 at Thrissur, Kerala, as a public limited company under the Companies Act, 2013, and was granted a certificate of incorporation by the RoC. The Bank was thereafter granted the RBI Final Approval vide license no. MUM:124, to carry on business as an SFB, on November 18, 2016.
Peer Comparison:
- Suryoday Small Finance Bank Ltd
- CreditAccess Grameen Ltd
- Spandana Sphoorty Financial Ltd
- Bandhan Bank Ltd
- Ujjivan Small Finance Bank Ltd
- Equitas Small Finance Bank Ltd
ESAF Small Finance Bank Ltd IPO Key Points
Strengths
- Deep understanding of the microfinance segment, which has enabled the bank to grow its business outside of Kerala, its home state
- Strong rural and semi-urban banking franchise
- Fast growing retail deposit portfolio with low concentration risk
- Strong customer connect driven by its customer centric products and processes and other non-financial services for microfinance customers
- Technology driven model with an advanced digital technology platform
Risk
- The Bank's business is currently significantly dependent on advances to microfinance loan customers and any adverse developments in the microfinance sector could adversely affect its business, financial condition, results of operations and cash flows.
- A majority of its advances are unsecured. If it is unable to recover such advances in a timely manner or at all, its financial condition, results of operations and cash flows may be adversely affected.
- The Bank incurs significant operating expenses and any increase in these operating expenses without a corresponding increase in income will adversely affect its financial condition, results of operations and cash flows.
Strategy
- Expand its geographic presence and penetrate deeper into its existing geographies
- Increase its deposits and in particular its NRI deposits and CASA
- Provide a comprehensive suite of banking products catered to the needs of its diverse customer base
- Increase fee-based income by expanding its third-party product and service offerings
- Continue to leverage technology and customer data analytics
- Deep understanding of the microfinance segment, which has enabled the bank to grow its business outside of Kerala, its home state
- Strong rural and semi-urban banking franchise
- Fast growing retail deposit portfolio with low concentration risk
- Strong customer connect driven by its customer centric products and processes and other non-financial services for microfinance customers
- Technology driven model with an advanced digital technology platform
How To Apply for ESAF Small Finance Bank Ltd IPO Online?
Step 1:
Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.
Step 2:
From the list of open IPOs, select the IPO you want to invest.
Step 3:
Go through the IPO details like lot size, price band, about the company, etc.
Step 4:
Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.
Step 5:
Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.
