ESAF Small Finance Bank IPO: Anchor investors buy Rs 135 crore worth shares ahead of issue opening

ESAF Small Finance Bank IPO opens on November 3

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26 Aug, 2025 12:21

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Kerala-headquartered ESAF Small Finance Bank has raised Rs 135.15 crore from anchor investors on November 2, ahead of its public issue opening.

Total 11 investors participated in the anchor book, the part of qualified institutional buyers, including ACM Global Fund VCC, Founders Collective Fund, Ananta Capital Ventures Fund, Astorne Capital VCC, BNP Paribas Arbitrage, Copthall Mauritius Investment, and Alchemie Ventures Fund.

Further, Kotak Mahindra Life Insurance Company, Edelweiss Tokio Life Insurance Company, ICICI Prudential Life Insurance and SBI General Insurance also invested in the company via the anchor book.

Amongst them, Kotak Mahindra Life Insurance Company, and ACM Global Fund VCC were the top investors as they bought Rs 20.05 crore shares each in the small finance bank, while Edelweiss Tokio Life Insurance Company acquired more than Rs 20 crore shares through its four schemes.

Also read: ESAF Small Finance Bank IPO: 10 things to know before subscribing to Rs 463-crore issue

ESAF in its filing to exchanges said it has finalised allocation of 2,25,24,998 equity shares to anchor investors at Rs 60 per equity share.

The small finance bank aims to raise Rs 463 crore from the initial public offering at the upper end of price band of Rs 57-60 per share.

The public issue comprises a fresh issue of Rs 390.7 crore worth shares and an offer-for-sale (OFS) of Rs 72.3 crore shares by three selling shareholders ESAF Financial Holding, PNB Metlife India Insurance Company, and Bajaj Allianz Life Insurance Company.

The IPO will open on November 3 and the closing date will be November 7.

ESAF, which provides micro, retail, and corporate banking, has also reserved Rs 12.5 crore worth of shares for its employees. They will get those shares at a discount of Rs 5 each on the final issue price.

Also read: ESAF Small Finance Bank IPO: Financials, shareholding, comparison with peers in 5 charts

The net fresh issue proceeds will be utilised for augmenting the bank's Tier – I capital base to meet the future capital requirements and for increasing business, which is primarily onward lending.