ESAF Small Finance has marked a significant entry into the stock market, listing on BSE at Rs 71.90 with a premium of 19.83%.
Shortly after, the company’s shares climbed to Rs 74.70, translating to a robust 24.5% return for investors.
Notably, the IPO’s price band was set at Rs 57 to Rs 60 per share.
ESAF Small Finance’s IPO was open for subscription from November 3 to November 7, 2023.
With a lot size of 250 shares, retail investors were required to invest a minimum of Rs 15,000, with a maximum of 13 lots allowed.
On the closing day, November 7, 2023, the ESAF Small Finance IPO was oversubscribed a staggering 77 times.
Notably, subscriptions reached 17.86 times in the retail category, 182.66 times among qualified institutional buyers, and 88.81 times for non-institutional investors.
Successful Fundraising and Share Issuance
Through anchor investors, the company raised Rs 135.15 crore.
The IPO included the issuance of 6.51 crore shares through a fresh issue.