ESAF Small Finance Bank IPO Day 2: Issue Subscribed 4.30 Times So Far

6 Nov 2023 , 12:16 PM

The ongoing Initial Public Offering (IPO) of ESAF Small Finance Bank, which kicked off for public subscription on Friday, is experiencing its second day of bidding on Monday, November 6. The Rs 463-crore IPO, slated to close on November 7, has achieved a subscription rate of 4.30 times as of 12.06 pm on the second day of bidding. Click here to subscribe the IPO.

Bids for 24,82,58,000 shares have been received against 5,77,28,408 shares on offer within the price band set at Rs 57-60 per share. The non-institutional investors segment has been subscribed 8.53 times, while retail individual investors (RIIs) have subscribed 4.65 times. However, the quota for qualified institutional buyers (QIBs) has reached a subscription rate of 0.93 times.

During the first day of bidding, the ESAF Small Finance Bank IPO witnessed a subscription rate of 1.98 times for retail investors, 2.44 times for non-institutional investors, while the qualified institutional buyers’ portion was 90% subscribed, and the employee portion was subscribed 1.01 times.

The IPO has allocated not more than 50% of the shares for Qualified Institutional Buyers (QIB), not less than 15% for Non-Institutional Investors (NII), and a minimum of 35% for Retail Investors.

Prior to the IPO, ESAF Small Finance Bank collected Rs 135 crore from anchor investors on Thursday. The IPO allotment is scheduled for November 10, and the company is expected to list on the BSE and NSE on November 16.