Saturday, December 2, 2023

ESAF Bank IPO: ESAF Bank IPO subscribed over 73 times

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Mumbai: The ₹463-crore initial public offering of ESAF Small Finance Bank was subscribed 73.15 times on Tuesday, the final day of bidding.The retail investor segment was subscribed 16.97 times the portion set aside for them. The non-institutional investor or high net worth investor category was subscribed 84.37 times and the qualified institutional buyers’ portion was subscribed 173.52 times. The IPO comprised a fresh issue of ₹390.7 crore and an offer for sale worth ₹72.3 crore.

The bank has a focus on unbanked and under-banked customer segments especially in the rural and semi-urban centres. In terms of assets under management, ESAF was the fifth-largest small finance bank as of June 30.

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