ESAF Small Finance Bank IPO: Listing date of the initial public offering (IPO) of ESAF Small Finance Bank Limited has been fixed on 10th November 2023 i.e. today. As per the BSE notification, “…effective from Friday, November 10, 2023, the equity shares of ESAF Small Finance Bank Ltd shall be listed and admitted to dealings on the Exchange in the list of ‘B’ Group of Securities.” BSE notice went on to add that ESAF Small Finance Bank share price will list on BSE and NSE in special pre-open session during Friday deals.
ESAF Small Finance Bank IPO allotment declared. Latest GMP, listing date, how to check status
According to stock market experts, ESAF Small Finance Bank IPO received strong response from investors as it got subscribed 73.15 times in three days of bidding from 3rd November to 7th November 2023. They said that issue size is also small and previous issue of the same segment Ujjivan Small Finance Bank doubled investors’ money on the listing date. Hence, allottees may expect strong listing gain from the ESAF Small Finance Bank IPO as well. They said that ESAF Small Finance Bank IPO may list in the range of ₹72 to ₹77 per share, delivering 20-25 per cent listing gain to allottees.
ESAF Small Finance Bank IPO listing gain
Expecting strong debut of ESAF Small Finance Bank shares, Avinash Gorakshkar, Head of Research at Profitmart Securities said, “Small size, attractive valuations and strong fundamentals was the major reason for strong response by investors. Apart from this, secondary market mood is also conducive for the primary market. Hence, we are expecting strong debut of ESAF Small Finance Bank IPO.”
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On ESAF Small Finance Bank IPO listing, Prashanth Tapse, Senior VP — Research at Mehta Equities said, “ESAF SFB IPO issue received overwhelming response on the last day of the issue especially from QIB which got oversubscribed by 182.66 times and overall by 77 times. This demand is in line with our estimate due to strong fundamentals in the company and industry dynamics. We believe there are a lot of unbanked opportunities in under-banked customer segments, especially in rural and semi urban centres wherein ESAF SFB has strong hold in south India.”
“Considering the change in the market momentum post FED meeting, we expect a healthy listing gain in the range 25-30% from its issue price of ₹60 apiece. We believe the premium listing is justified on the back of investor friendly pricing and reasonably IPO valuations when compared to peers. Hence we recommend allotted investors to look for booking profits and post listing we expect limited upside,” Mehta Equities expert added.
ESAF Small Finance Bank IPO listing price prediction
Speaking on expected ESAF Small Finance Bank IPO listing price, Arun Kejriwal, Founder at Kejriwal Research and Investment Services said, “If we look at the previous IPO of the same segment (Ujjivan Small Finance Bank IPO), allottees’ money got doubled on the listing day itself. As the issue size is small and small finance banking segment is doing well these days in primary and secondary market, I believe that ESAF Small Finance Bank shares will debut on Dalal Street in ₹72 to ₹77 range.”
ESAF Bank IPO GMP
Meanwhile, grey market sentiments in regard to ESAF Small Finance Bank IPO has gone down. According to market observers, shares of ESAF Small Finance Bank Limited are available at a premium of ₹20 in grey market today, which is Re 1 lower from previous session. This means ESAF Small Finance Bank IPO grey market premium (GMP) today is ₹20.
So, grey market is signaling that ESAF Small Finance Bank IPO listing price would be around ₹80 ( ₹60 + 20) per share levels.
The ₹463 crore IPO of ESAF Small Finance Bank Limited was subscribed 73.15 times on the final day of bidding. The issue received bids of 4,22,28,99,750 shares against the offered 5,77,28,408 equity shares, at a price band of ₹57-60, according to the data available on the stock exchanges. Qualified Institutional Buyer and Non-Institutional Investors Portion was subscribed 173.52 times and 84.37 times respectively. Retail Portion was subscribed 16.97 times, whereas Employee Portion was subscribed 4.36 times.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decision.
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