Nuvama Investment Banking acted as the Book Running Lead Manager to the INR 4,630 mn IPO of ESAF Small Finance Bank

Initial Public Offering

Service

December 2023

Date

Banking, Financial Service and Insurance

Sector

INR 4630 MN

Deal Value

Nuvama Investment Banking acted as the Book Running Lead Manager to the INR 4,630 mn IPO of ESAF Small Finance Bank

Deal Details

  • Deal saw strong participation across investor categories garnering more than INR 25,000 crs
    • QIB – ~182x, HNI – ~88x, Retail – ~17x
    • Highest QIB subscribed IPO amongst all the SFB IPOs till date
  • Company saw stellar IPO Listing with equity shares opening at 18.3%# premium showcasing investor confidence in Company’s business and management team

Contribution

  • Nuvama played a central role in the IPO by bringing key cornerstone investors completely driving the momentum of the issue as well as guiding the management on entire process, deal contours & timing
  • Dominated procurement in the Anchor in a 3 bank syndicate – Highest overall share of ~54% share in terms of amount procured and 45% in terms of number of anchor investors converted
  • Nuvama garnered participation from a diverse investor set including ‘Long Only’ FII, IC and Family Offices
  • Pushed the story aggressively through our distribution channel to garner strong interest in HNI & Retail category resulting in 16 lakh+ applications