ESAF Small Finance Bank IPO allotment today: Check application status, latest GMP and listing date

ESAF Small Finance Bank will likely finalise is initial public offer (IPO) allotment on Thursday, November 9. Bidders, who will receive the allotment of equity shares will begin getting updates via alerts and messages later today. The SFB would make its debut on Dalal Street on Friday, November 10.

The ESAF Small Finance Bank IPO ran from November 3 to November 7 and was sold in the range of Rs 57-60 per shares. The Kerala-based lender raised a total of Rs 463 crore via IPO, which included a fresh issue of Rs 390.70 crore and an offer-for-sale (OFS) of up to 6.51 crore shares.

The issue saw strong demand across investor categories during the three-day bidding process, fetching an overall subscription of 73.15 times. The portions reserved for qualified institutional bidders (QIBs), non-institutional investors, retail investors and employees were booked at 173.52 times, 84.37 times, 16.97 times and 4.36 times, respectively.

Grey market premium (GMP) of ESAF Small Finance Bank remained stable since the closure of the issue. Last heard, ESAF Small Finance Bank was commanding a premium of Rs 21 per share in the grey market, suggesting a listing pop of around 35 per cent for the investors.

ESAF Small Finance Bank focuses on providing loans to rural and semi-urban customers, providing financial solutions. Its product range includes micro loans, retail loans, MSME loans, loans to financial institutions and agricultural loans. It has a network of 700 outlets, 743 customer service centers  and 481 business facilitators, 581 ATM's located across 21 states and UTs of India.

A majority of the brokerage firms tracking the issue were positive on it and had 'subscribe’ ratings. Nuvama Wealth Management, ICICI Securities and DAM Capital Advisors managed the IPO of ESAF Small Finance Bank, while Link Intime India was the registrar for the same.

Investors, who bade for the issue can check the allotment status on the BSE website's IPO application check page. One can check-in equity, under the issue type and select ESAF Small Finance Bank Limited in the dropbox. The next step is to type-in the application number and add the PAN card number before checking-in at 'I am not a Robot'. Hit submit button and that is it.

The allotment status can also be checked through the online portal of Link Intime India, the registrar to the issue. Visit the web portal of Link Intime and select the IPO of ESAF Finance Bank in the dropbox. Enter the PAN card number and hit 'search' to get the allotment status for the application.
 

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

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