The INR 463 crore initial public offering of Thrissur-headquartered ESAF Small Finance Bank was subscribed 73.15 times.
The retail investor segment was subscribed 16.97 times the portion set aside for them. The non-institutional investor category was subscribed 84.37 times and the qualified institutional buyers' portion was subscribed 173.52 times. The IPO comprised a fresh issue of INR 390.7 crore and an offer for sale worth INR 72.3 crore (by the promoting holding company and other shareholders, primarily insurance companies).
The bank focuses on unbanked and under-banked customer segments especially in the rural and semi-urban centres.
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