IPO tracker: ESAF SFB's offer booked 19x; ASK Automotive's issue subscribed 19% on Day 1
Protean eGov Technologies, ESAF Small Finance Bank and ASK Automotive are currently open for public subscription. Here's a brief look at subscription status and other details.
ESAF Small Finance Bank
The public offer of ESAF Small Finance Bank (SFB) was booked nearly 19x on the third day of the bidding process.
The issue closes today.
The NII category was subscribed the most at 50.65x, followed by retail investors at 12.45x. The QIB portion subscription rate stood at 8.3x.
According to market analysts, the company's shares are commanding a premium of Rs 19 in the unlisted market.
The Rs 463-crore IPO includes a fresh equity issue of Rs 391 crore and an offer for sale (OFS) of Rs 72 crore.
Under the OFS, promoter selling shareholder ESAF Financial Holdings will offload stake worth Rs 49 crore and other selling shareholders PNB MetLife and Bajaj Allianz Life make up for the remaining OFS portion.
The IPO is priced in the range of Rs 57-60. Investors can bid for a minimum of 250 shares and in multiples thereafter.
About 50% of the issue is reserved for qualified institutional buyers, 15% for non-institutional investors and the rest 35% for retail investors.
ESAF Small Finance Bank has a focus on unbanked and under-banked customer segments, especially in rural and semi-urban areas.
Protean eGov Technologies
The IPO of Protean eGov Technologies was subscribed 2.13x so far on the second day of the bidding process.
The issue closes tomorrow.
The retail and NII categories were booked 2.81x and 3.61x so far, respectively. The QIB category was booked just 1%.
The company's grey market premium (GMP) is around Rs 95.
The issue is completely an offer for sale of 61.9 lakh shares.
