Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
IPO News

| More

ESAF Small Finance Bank files DRHP for its IPO

Posted On: 2020-01-06 22:45:38

Kerala based ESAF Small Finance Bank on Monday filed its Draft Red Herring Prospectus (DRHP) with markets regulator Securities and Exchange Board of India for an Rs 976 crore Initial Public Offering (IPO).

According to the DRHP, the IPO comprises of a fresh issue worth Rs 800 crore and an Offer for Sale (OFS) aggregating up to Rs 176.2 crore.

The bank, in consultation with its Book Running Lead Managers (BRLMs) may consider a pre-IPO placement of up to Rs 300 crore. If it is undertaken, the amount raised will be reduced from the fresh issue, the DRHP states.

The BRLMs to the offer are Axis Capital Limited, Edelweiss Financial Services Limited, ICICI Securities Limited and IIFL Securities Limited.

According to the DRHP, not less than 75 per cent of the offer will be available for allocation to qualified institutional buyers (QIBs). Further, not more than 15 per cent of the offer will be available for allocation on a proportionate basis to non-institutional bidders and not more than 10 per cent of the offer will be available for allocation to retail individual bidders.

The net proceeds from the fresh issue will be used to augment the bank's tier 1 capital (primarily loans/advances and investment portfolio) to meet future capital requirements.

One of the leading small finance banks in terms of yield on advances, AUM growth rate and share of retail deposits as per a CRISIL report, ESAF Small Finance Bank currently operates in 16 states and 1 union territory through its 403 branches and 38 ultra-small branches, serving over 3.73 million customers.

Microfinance loans accounted 95.75 per cent of the total gross advances, it's loan book outside Kerala has grown from Rs 5490 million in March 2017 to Rs 25,402.45 million as at September 30, 2019 which is 48.46 per cent of the total microfinance loan book size, while the total gross advance as at September 30, 2019 stood at Rs 54,742.35 million.

The bank's net profit increased from Rs 240.60 million in September 2018 to Rs 924.40 million in September 2019 and the interest earned increased from Rs 4722.58 million in September 2018 to Rs 6606.83 million in September 2019.

The DRHP states that it will continue to focus on its rural and semi urban franchisees and increase deposits across NRIs and CASA. As on date, it stands to have the highest share of retail deposits as a percentage to the total deposits when compared to the other small finance banks.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Route Mobile gets SEBI nod for Rs 600 cr IPO

Prince Pipes and Fittings Ltd to list on December 30, 2019

Subscribe to Ujjivan Small Finance Bank IPO - Angel Broking

Ujjivan SFB's IPO to open on Monday, December 02, 2019 with Price Band of Rs 36 - 37 per Equity Share each of Face Value of Rs 10 each

IRCTC shares to list on Monday - October 14, 2019

IRCTC'S IPO to open on Monday, September 30, 2019 with Price Band of Rs. 315 - Rs. 320 per share

Alpahlogic Techsys IPO oversubscribed 1.18 times on the final day of bidding

Alphalogic Techsys IPO receives overwhelming response, oversubscribed on second day of bidding

Start-up IPO Alpahlogic Techsys subscribed 64% On the First day of bidding

India's First Start-up IPO Opens today

Alphalogic Techsys IPO now to open in Aug 26th, 2019

Alphalogic Techsys Limited IPO to open on August 23, 2019

Alphalogic Techsys Limited to be the First Company to be Listed on BSE Startup Platform

Ujjivan Small Finance Bank Ltd files DRHP with SEBI for IPO

Global solar EPC major Sterling and Wilson Solar's Rs 3,125 cr IPO opens on August 6, 2019

Tamil Nadu - based Annai Infra Developers Ltd. gets SEBI approval to float IPO

Maharashtra Finance Minister Unveils DRHP of Alphalogic Techsys Limited for Rolling Out its IPO

K.P.R. Agrochem IPO withdrawn: Angel Broking

Shyam Steel Industries Limited files DRHP for IPO

White Organic Retail Ltd IPO opens on BSE SME platform

TN-based Annai Infra Developers Limited files document for IPO float

Rail Vikas Nigam Limited's IPO to open on Friday, March 29, 2019

Humming Bird Education IPO fully subscribed

Humming Bird Education IPO Opens on March 15

MSTC Limited's IPO to open on Wednesday, March 13, 2019

Anmol India Ltd IPO fully subscribed on Day 3

KPI Global Infrastructure's Rs. 40 crore mops subscription of Rs. 436 Crore

Initial Public Offer: Garden Reach Shipbuilders & Engineers - Kotak

Initial Public Offer: Dinesh Engineers Ltd - Kotak

Subscription for Kritika Wires Ltd IPO open

Garden Reach Shipbuilders & Engineers Ltd IPO extended, price band revised

IPO of Spectrum Electrical Industries Limited Opens on September 17, 2018

Ahlada Engineers IPO opens for subscription on Sep 11, 2018

Rajshree Polypack Ltd NSE SME IPO to open for subscription on Sep 10, 2018

Marquee investor, Sunil Singhania's Abakkus Growth Fund - 1 invests in Rajshree Polypack Limited as Anchor Investor

Equity shares of CreditAccess Grameen Limited to list on Aug 23, 2018

TCNS Clothing Company Ltd to list on July 30, 2018

HDFC AMC IPO receives subscription of 83.04 times

HDFC Asset Management Co - IPO Note - Angel Broking

TCNS Clothing Company Limited - IPO Note - Angel Broking

Rajnish Wellness Ltd IPO to hit markets on June 25, 2018

Varroc Engineering Limited IPO to open for subscription on June 26, 2018

RITES Limited IPO receives overwhelming response from investors

Fine Organic Industries Limited IPO receives subscription of 8.99 times

Varroc Engineering Ltd - IPO Note - Angel Broking

RITES Ltd - IPO Note - Angel Broking

Fine Organic Industries Ltd - IPO Note - Angel Broking

Avana Logistek Ltd files DRHP with SEBI for IPO

IndoStar Capital Finance Ltd - IPO Note - Angel Broking

IndoStar Capital Finance Limited Offer opens on May 9, 2018







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019