ESAF Small Finance Bank’s IPO received a strong response from investors, with the issue getting subscribed 73.15 times. The shares are trading at a 33% premium in the grey market, sources told Moneycontrol.
The grey market is an unofficial trading platform where shares get traded well before the allotment in the IPO and until the listing day. Most investors track the grey market premium (GMP) of a stock to get an idea of the listing price.
Also Read: ESAF Small Finance Bank IPO subscribed 73.15 times on final day, grey market premium stays strong
The price band for the issue, which opened for subscription on November 3 and closed on November 7, was fixed at Rs 57-60 per share. The Rs 463 crore offer comprised a fresh issue of 6.51 crore shares worth Rs 390.7 crore and offer-for-sale of 1.2 crore shares with Rs 72.5 crore shares.
The allotment of shares is expected to be finalised by November 9 and stock may list on NSE and BSE on November 10, according to sources. Post finalisation of allotment, investors can check their allotment status on BSE and Link Intime.
How to check allotment status on BSE?
Step 1: Go to https://www.bseindia.com/investors/appli_check.aspx
Step 2: Under 'Issue Type', select 'Equity'.
Step 3: Choose the IPO from the drop-down option under 'Issue Name'.
Step 4: Enter PAN number or application number
Also Read: ESAF Small Finance Bank IPO: 10 things to know about the Rs 463 crore issue
How to check allotment status on Link Intime portal?
Step 1: Go to https://linkintime.co.in/mipo/ipoallotment.html
Step 2: Select ESAF Small Finance Bank from the drop-down menu
Step 3: Enter PAN number and click on search
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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