The public subscription started on Friday and received 8.31 times the subscription on the second day. Retail investors subscribed to their reserved portion 7.89 times, while the Non-Institutional Investors (NII) segment saw significant demand with a subscription of 20.17 times. The Qualified Institutional Buyers (QIB) segment received a booking of 1.
The second day of the Initial Public Offering (IPO) for ESAF Small Finance Bank has witnessed a robust response from the investor community. The IPO includes a fresh issue of Rs 390.7 crore and an offer for sale of up to Rs 72.3 crore. The 100% book building issue has a price band of Rs 57 to Rs 60 per share. The bid lot size is 250 Equity Shares and in multiples thereof.
In the grey market, unlisted shares of ESAF Small Finance Bank are trading at Rs 80, which is approximately 33.33 per cent above its upper issue price of Rs 60 per share. This suggests that the grey market anticipates a 33.33 per cent listing gain from the public issue.
The company has scheduled the IPO allotment for November 10 and expects to list on the BSE and NSE on November 16. The bank will use the funds raised from the fresh issue to enhance its Tier 1 capital base.