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ESAF Small Finance Bank IPO vs IREDA IPO

Comparison between ESAF Small Finance Bank IPO and IREDA IPO.

IPO Details

ESAF Small Finance Bank IPO is a Mainboard Bookbuilding IPO proposed to list at BSE, NSE while IREDA IPO is a Mainboard Bookbuilding proposed to list at BSE, NSE.

 ESAF Small Finance Bank IPOIREDA IPO
LogoESAF Small Finance Bank IPO LogoIREDA IPO Logo
Issue CategoryMainboardMainboard
Issue TypeIPOIPO
Process TypeBookbuildingBookbuilding
Listing AtBSE, NSEBSE, NSE
Lead ManagersNuvama Wealth Management Ltd.

Dam Capital Advisors Ltd.

ICICI Securities Ltd.		SBI Capital Markets Ltd.

BOB Capital Markets Ltd.

IDBI Capital Markets Services Ltd.
RegistrarMUFG Intime India Pvt.Ltd.MUFG Intime India Pvt.Ltd.
Market Maker
DRHPDRHP DRHP
RHPRHP RHP
Final ProspectusFinal Prospectus Final Prospectus
Anchor InvestorAnchor Investor Anchor Investor
IPO Allotment URLIPO Allotment URL IPO Allotment URL

Issue Size and Price

The total issue size of ESAF Small Finance Bank IPO is up to ₹463.00 Cr whereas the issue size of the IREDA IPO is up to ₹2,150.21 Cr. The final issue price of ESAF Small Finance Bank IPO is ₹60.00 per share and of IREDA IPO is ₹32.00 per share.

 ESAF Small Finance Bank IPOIREDA IPO
Face Value₹10 per share₹10 per share
Issue Price (Lower)₹57.00 per share₹30.00 per share
Issue Price (Upper)₹60.00 per share₹32.00 per share
Issue Price (Final)₹60.00 per share₹32.00 per share
Discount (Retail)₹0.00 per share₹0.00 per share
Discount (Employee)₹5.00 per share₹0.00 per share
Market Lot Size250 shares460 shares
Fresh Issue Size6,53,06,060 shares40,31,64,706 shares
Fresh Issue Size (Amount)up to ₹390.88 Crup to ₹1,290.13 Cr
OFS Issue Size1,20,49,999 shares26,87,76,471 shares
OFS Issue Size (Amount)up to ₹72.12 Crup to ₹860.08 Cr
Issue Size Total7,73,56,059 shares67,19,41,177 shares
Issue Size Total (Amount)up to ₹463.00 Crup to ₹2,150.21 Cr

IPO Timetable

ESAF Small Finance Bank IPO opens on Nov 03, 2023, while IREDA IPO opens on Nov 21, 2023. The closing date of ESAF Small Finance Bank IPO and IREDA IPO is Nov 07, 2023, and Nov 23, 2023, respectively.

 ESAF Small Finance Bank IPOIREDA IPO
Anchor Bid DateNov 02, 2023Nov 20, 2023
Issue OpenNov 03, 2023Nov 21, 2023
Issue CloseNov 07, 2023Nov 23, 2023
Basis Of Allotment (Tentative)Nov 08, 2023Nov 24, 2023
Initiation of Refunds (Tentative)Nov 08, 2023Nov 25, 2023
Credit of Share (Tentative)Nov 09, 2023Nov 28, 2023
Listing date (Tentative)Nov 10, 2023Nov 29, 2023
Anchor Lockin End date 1Dec 08, 2023Dec 24, 2023
Anchor Lockin End date 2Feb 06, 2024Feb 22, 2024

Financials & KPIs

ESAF Small Finance Bank IPO P/E ratio is 8.94, as compared to IREDA IPO P/E ratio of 8.47.

 ESAF Small Finance Bank IPOIREDA IPO
Financials

Company Financials (Restated)

Period Ended30 Jun 202331 Mar 202331 Mar 202231 Mar 2021
Assets20,795.9420,223.6617,707.5612,338.65
Total Income991.783,141.572,147.511,768.42
Profit After Tax129.96302.3354.73105.40
NET Worth1,839.091,709.131,406.801,352.06
Reserves and Surplus1,389.621,259.66957.32902.59
Total Borrowing2,739.133,354.202,952.831,694.00
Amount in ₹ Crore

Company Financials (Restated Standalone)

Period Ended30 Sep 202331 Mar 202331 Mar 202231 Mar 2021
Assets51,208.3650,446.9836,708.4130,293.39
Total Income2,320.463,483.042,874.162,657.74
Profit After Tax579.32864.63633.53346.38
NET Worth6,580.615,935.175,268.112,995.60
Reserves and Surplus2,550.362,310.961,776.051,386.12
Total Borrowing39,850.1940,165.2327,613.0724,000.00
Amount in ₹ Crore
Promoter Shareholding (Pre-Issue)74.43100
Promoter Shareholding (Post-Issue)59.7475
P/E Ratio8.948.47
Market Cap₹3087.54 Cr.₹8600.85 Cr.
ROE15.44%
ROCE
Debt/Equity6.77
EPS₹6.73₹3.78
RoNW17.69%15.44%

Shares Offered

In the ESAF Small Finance Bank IPO Retail Individual Investors (RII) are offered 2,62,79,167 shares while in IREDA IPO retail investors are offered 2,62,79,167 shares. Qualified Institutional Buyers (QIB) are offered 1,50,16,667 shares in ESAF Small Finance Bank IPO and 13,40,13,152 shares in IREDA IPO.

 ESAF Small Finance Bank IPOIREDA IPO
Anchor Investor Reservation2,25,24,998 shares20,10,19,726 shares
Market Maker Reservation
QIB1,50,16,667 shares13,40,13,152 shares
NII1,12,62,500 shares10,05,09,864 shares
RII2,62,79,167 shares23,45,23,015 shares
Employee22,72,727 shares18,75,420 shares
Others
Total7,73,56,059 shares67,19,41,177 shares

Bids Received (Subscription)

ESAF Small Finance Bank IPO subscribed 77.00x in total, whereas IREDA IPO subscribed 38.80x.

 ESAF Small Finance Bank IPOIREDA IPO
QIB (times)182.66x104.57x
NII (times)88.81x24.16x
Big NII (times)96.51x26.99x
Small NII (times)73.41x18.50x
RII (times)17.86x7.73x
Employee (times)4.59x9.80x
Other (times)
Total (times)77.00x38.80x

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