Shares of ESAF Small Finance Bank on Friday listed with a premium of nearly 20 per cent against the issue price of ₹60.
The stock made its debut at ₹71.90, rallying 19.83 per cent from the issue price on the BSE. It later jumped 24.5 per cent to ₹74.70.
At the NSE, shares of the company began the trade at ₹71, up 18.33 per cent.
The company commanded a market valuation of ₹3,685.82 crore during the morning trade.
The Initial Public Offering (IPO) of ESAF Small Finance Bank was subscribed 73.15 times on the last day of subscription on Tuesday.
The ₹463-crore initial share sale had a price range of ₹57-60 a share.
ESAF Small Finance Bank is one of the leading small finance banks in India in terms of client base size, yield on advances, net interest margin, assets under management, Compound Annual Growth Rate (CAGR), total deposit CAGR, loan portfolio concentration in rural and semi-urban areas and ratio of micro loan advances to gross advances.