ESAF Small Finance Bank IPO subscribed 73.15 times The Initial Public Offering (IPO) of ESAF Small Finance Bank was subscribed 73.15 times on the last day of subscription on Tuesday. The Rs 463-crore initial share sale received bids for 4,22,28,99,750 shares against 5,77,28,408 shares on offer, as per NSE data. The retail individual investors part received 16.97 times subscription. The public offer had a fresh issue aggregating up to Rs 390.7 crore and offer for sale of up to Rs 72.3 crore. The initial share sale had a price range of Rs 57-60 a share. Those selling shares in the OFS were promoter ESAF Financial Holdings Pvt Ltd, and other shareholders — PNB MetLife India Insurance Company Ltd and Bajaj Allianz Life Insurance Company Ltd. ESAF Small Finance Bank said it has collected Rs 135 crore from anchor investors. Proceeds of the fresh issue will be utilised to augment the bank’s Tier-1 capital base. 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. ICICI Securities, DAM Capital Advisors and Nuvama Wealth Management were the managers to the offer. The equity shares of the bank will be listed on the BSE and the NSE.
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FII and DII trades: Foreign Institutional Investors (FII) have been net buyers of domestic stocks for successive days now. On Wednesday, FIIs pumped in Rs 2,347 crore. Domestic Institutional Investors (DII) have been net sellers, pulling out Rs 510 crore yesterday.
IPO watch: Syrma SGS Technology enters the final day of bidding today. So far the issue, that opened last week, has been subscribed 2.27 times. Retail investors have subscribed their portion 2.66 times while NIIs have bid for their quota 3.58 times and QIB portion has been bid for 0.71 times.