ESAF Small Finance Bank IPO Details:

ESAF Small Finance Bank Limited is a small finance bank with a focus on unbanked and under-banked customer segments, especially in rural and semi-urban areas. This business model focuses on the principles of responsible banking, providing customer-centric products and services through the innovative application of technology. The company follows a social business strategy seeking a triple bottom-line impact: people; planet; and prosperity. Its goal is to become the top social bank in India by providing equitable chances through widespread financial inclusion, economic development, and livelihood. It adopted various policies to implement its triple bottom line approach, including an Environmental, Social, and Governance (“ESG”) policy which includes the protection of the environment and ensuring sustainable development, promoting financial inclusion and gender equality through specialized financial services and establishing a governance framework to ensure accountability, transparency, and compliance with internal and external ESG standards.

ESAF Small Finance Bank IPO Business Offerings:

  • Micro Loans, which comprise Microfinance Loans and Other Micro Loans
  • Retail loans, which include gold loans, mortgages, personal loans, and vehicle loans
  • MSME loans
  • Loans to financial institutions
  • Agricultural loans

ESAF Small Finance Bank Limited has an extensive network of 700 banking outlets (including 59 business correspondent-operated banking outlets), 743 customer service centers (which are operated by its business correspondents), 20 business correspondents, 2,023 banking agents, 481 business facilitators, and 528 ATMs spread across 21 states and two union territories, serving 6.83 million customers as at March 31, 2023.

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    ESAF Small Finance Bank IPO Details:

    IPO Open Date Not Available
    IPO Close Date Not Available
    Listing Date Not Available
    Face Value ₹10 per share
    Price Not Available
    Lot Size Not Available
    Issue Size [●]shares

    (aggregating up to ₹629.04 Cr)

    Offer For Sale [●]shares

    (aggregating up to ₹142.3Cr)

    Fresh Issue [●]shares

    (aggregating up to ₹486.74 Cr)

    Issue Type Book Built Issue IPO
    Listing At BSE, NSE
    QIB Shares Offered Not more than 50% of the Offer
    NII (HNI) Shares Offered Not less than 15% of the Offer
    Retail Shares Offered Not less than 35% of the Offer
    Promoters Kadambelilpaul Thomas And Esaf Financial Holdings Private Limited

    ESAF Small Finance Bank IPO

    Wants To Apply Online

    ESAF Small Finance Bank IPO Financial Analysis:

    Particulars FY-23(in cr.) FY-22(in cr.) FY-21(in cr.) CAGR
    Interest Earned 2853.659 1939.925 1641.17 31.9%
    Other Income 287.913 207.583 127.25 50.4%
    Interest Expended 1017.319 792.786 719.58 18.9%
    Operating Expenses 1230.541 862.871 631.86 39.6%
    Provisions and Contingencies 591.379 437.119 311.59 37.8%
    PROFIT 302.33 54.73 105.40 69.4%

    ESAF Small Finance Bank IPO Assets Under Management:

    AUM FY-23(in cr.) % FY-22(in cr.) % FY-21(in cr.) % CAGR
    Micro Loans 12254.88 75.04% 10015.96 81.16% 7145.28 84.80% 31.0%
    Retail loans 2614.75 16.01% 1464.97 11.87% 960.71 11.40% 65.0%
    MSME loans 160.06 0.98% 123.31 1.00% 48.35 0.57% 81.9%
    Loans to financial institutions 613.74 3.76% 409.63 3.32% 262.54 3.12% 52.9%
    Agricultural loans 687.82 4.21% 326.81 2.65% 9.03 0.11% 772.8%
    Total AUM 16331.27 100% 12340.69 100% 8425.93 100% 39.2%

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    Check ESAF Small Finance Bank  IPO Allotment Status

    Go ESAF Small Finance Bank IPOallotment status would be available soon after the IPO closure date. Usually the allotment comes within a week from the closing date which in this IPO yet to be announced.

    One can check the allotment on the given below link with PAN number or Application number or DP Client Id. All you need to do is to follow these steps:-

    1. To ESAF Small Finance Bank IPO Allotment Status
    2. Go to Application Status
    3. Select ESAF Small Finance Bank IPO
    4. Enter your PAN Number or Application Id or DP Client Id.


    ESAF Small Finance Bank IPO

    Application Form

    ESAF Small Finance Bank IPO Major Shareholders:

    S.NO. Name of the Shareholder No. of Shares % of pre-Offer shareholding
    1. Corporate Promoter 280,758,396 62.46%
    2. Kadambelil Paul Thomas 31,186,785 6.94%
    3. ESMACO 22,413,659 4.99%
    4. Yusuffali Musaliam Veettil Abdul Kader 22,413,659 4.99%
    5. PNB MetLife India Insurance Company Limited 21,346,993 4.75%
    6. Muthoot Finance Limited 18,717,244 4.16%
    7. Bajaj Allianz Life Insurance Company Limited 17,469,428 3.89%
    8. George Ittan Maramkandathil 13,333,333 2.97%
    9. PI Ventures LLP 8,734,714 1.94%
    10. ICICI Lombard General Insurance Company Limited 6,239,081 1.39%
    Total 442,613,292 98.48%

    ESAF Small Finance Bank IPO Offer for Sale Details:

    S. No. Name of the Selling Shareholder Aggregate amount of Offer

    for Sale (in ₹ crore)

    1. ESAF Financial Holdings Private Limited Up to 119.26
    2. PNB MetLife Up to 12.67
    3. Bajaj Allianz Life Up to 10.37

    ESAF Small Finance Bank IPO Strengths:

    • ESAF Small Finance Bank Limited has a strong rural and semi-urban banking franchise. As per the CRISILMI&a Report, the company had the second-highest portfolio share and third-highest share of total banking outlets in rural and semi-urban areas as of March 31, 2023, among its compared peers.

    • ESAF Small Finance Bank Limited has a fast-growing retail deposit portfolio with low concentration risk. As per the CRISIL MI&A Report, the company had the highest share of retail deposits as a percentage of its total deposits as of March 31, 2023, among its compared peers.

    • Due to ESAF Small Finance Bank’s customer-centric products, procedures, and other non-financial services for Micro Loan customers, it enjoys strong customer connections and high customer retention rates.

    • ESAF Small Finance Bank has a deep understanding of the microloan segment, which has enabled it to grow its business outside of Kerala, its home state. As of March 31, 2023, the company had over 4.88 million customers with Micro Loans, the majority of whom were women.

    • ESAF Small Finance Bank has a technology-driven model with an advanced digital technology platform. The company offers its customers various digital platforms, including an Internet banking portal, a mobile banking platform, etc. Its customers are also able to register for its savings accounts on a unified payment interface-based mobile application. Its account opening and loan underwriting processes have been digitalized.

    ESAF Small Finance Bank IPO Risk Factors:

    • ESAF Small Finance Bank is significantly dependent on Micro Loans and any adverse developments in the microfinance sector could adversely affect its business.

    • ESAF Small Finance Bank’s Micro Loans and some of its retail loans are unsecured and are at a higher credit risk than secured loans because they are not supported by collateral. Any failure to recover the full amount of principal and interest on unsecured advances given to its customers could adversely affect its business.

    • ESAF Small Finance Bank incurs significant operating expenses and any increase in these operating expenses without a corresponding increase in its Net Interest Income and other income combined will adversely affect its financial condition.

    • ESAF Small Finance Bank business correspondents (which include ESMACO, a Promoter Group and Group Entity, and Lahanti, a Group Entity) have sourced the majority of its advances. All of our Business correspondents work for it on a non-exclusive basis. If any of its business correspondents and in particular ESMACO prefer to promote its competitors’ loans over its loans or the agreements between them are terminated or not renewed, it would adversely affect its business.

    • ESAF Small Finance Bank could be subject to various sanctions and penalties by the RBI for failing to comply with the requirement to list the Equity Shares on a stock exchange in India before July 31, 2021. RBI may take regulatory action against it in the future.

    • ESAF Small Finance Bank is in non-compliance with certain Risk Based Supervision (“RBS”) Tranche III requirements and if the RBI imposes penalties on it for this non-compliance, it could adversely affect its reputation and business


    ESAF Small Finance Bank IPO Prospectus:

    Registrar to the offer:

    Link Intime India Private Limited

    Tel: +91 022 4918 6060



    Investor Grievance ID:

    Contact Person: Shanti Gopalkrishnan

    SEBI Registration Number: INR000004058