ESAF Small Finance Bank IPO vs IREDA IPO

Comparision between ESAF Small Finance Bank IPO and IREDA IPO.

IPO Details

ESAF Small Finance Bank IPO is a Mainline Book Built Issue IPO proposed to list at BSE, NSE while IREDA IPO is a Mainline Book Built Issue proposed to list at BSE, NSE.

	ESAF Small Finance Bank IPO	IREDA IPO
Logo
Issue Category	Mainline	Mainline
Issue Type	IPO	IPO
Process Type	Book Built Issue	Book Built Issue
Listing At	BSE, NSE	BSE, NSE
Lead Managers	ICICI Securities Limited Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd) Nuvama Wealth Management Limited	Idbi Capital Market Services Limited Bob Capital Markets Limited SBI Capital Markets Limited
Registrar	Link Intime India Private Ltd	Link Intime India Private Ltd
Market Maker
DRHP	DRHP	DRHP
RHP	RHP	RHP
Anchor Investor	Anchor Investor	Anchor Investor
IPO Allotment URL	IPO Allotment URL	IPO Allotment URL

Issue Size and Price

The total issue size of ESAF Small Finance Bank IPO is up to ₹463.00 Cr whereas the issue size of the IREDA IPO is up to ₹2,150.21 Cr. The final issue price of ESAF Small Finance Bank IPO is ₹60.00 per share and of IREDA IPO is ₹32.00 per share.

	ESAF Small Finance Bank IPO	IREDA IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)	₹57.00 per share	₹30.00 per share
Issue Price (Upper)	₹60.00 per share	₹32.00 per share
Issue Price (Final)	₹60.00 per share	₹32.00 per share
Discount (Retail)
Discount (Employee)	₹5.00 per share
Market Lot Size	250 shares	460 shares
Fresh Issue Size	6,51,16,667 shares	40,31,64,706 shares
Fresh Issue Size (Amount)	up to ₹390.70 Cr	up to ₹1,290.13 Cr
OFS Issue Size	1,20,50,000 shares	26,87,76,471 shares
OFS Issue Size (Amount)	up to ₹72.30 Cr	up to ₹860.08 Cr
Issue Size Total	7,71,66,667 shares	67,19,41,177 shares
Issue Size Total (Amount)	up to ₹463.00 Cr	up to ₹2,150.21 Cr

IPO Timetable

ESAF Small Finance Bank IPO opens on Nov 03, 2023, while IREDA IPO opens on Nov 21, 2023. The closing date of ESAF Small Finance Bank IPO and IREDA IPO is Nov 07, 2023, and Nov 23, 2023, respectively.

	ESAF Small Finance Bank IPO	IREDA IPO
Anchor Bid Date	Nov 02, 2023	Nov 20, 2023
Issue Open	Nov 03, 2023	Nov 21, 2023
Issue Close	Nov 07, 2023	Nov 23, 2023
Basis Of Allotment (Tentative)	Nov 08, 2023	Nov 24, 2023
Initiation of Refunds (Tentative)	Nov 08, 2023	Nov 25, 2023
Credit of Share (Tentative)	Nov 09, 2023	Nov 28, 2023
Listing date (Tentative)	Nov 10, 2023	Nov 29, 2023
Anchor Lockin End date 1	Dec 08, 2023	Dec 24, 2023
Anchor Lockin End date 2	Feb 06, 2024	Feb 22, 2024

Financials

ESAF Small Finance Bank IPO P/E ratio is 8.94, as compared to IREDA IPO P/E ratio of 8.47.

ESAF Small Finance Bank IPO

IREDA IPO

Financial

ESAF Small Finance Bank Limited Financial Information (Restated)

ESAF Small Finance Bank Limited's revenue increased by 46.29% and profit after tax (PAT) rose by 452.39% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended	30 Jun 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	20,795.94	20,223.66	17,707.56	12,338.65
Revenue	991.78	3,141.57	2,147.51	1,768.42
Profit After Tax	129.96	302.33	54.73	105.40
Net Worth	1,839.09	1,709.13	1,406.80	1,352.06
Reserves and Surplus	1,389.62	1,259.66	957.32	902.59
Total Borrowing	2,739.13	3,354.20	2,952.83	1,694.00
Amount in ₹ Crore

Indian Renewable Energy Development Agency Limited Financial Information (Restated Standalone)

Indian Renewable Energy Development Agency Limited's revenue increased by 21.18% and profit after tax (PAT) rose by 36.48% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended	30 Sep 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	51,208.36	50,446.98	36,708.41	30,293.39
Revenue	2,320.46	3,483.04	2,874.16	2,657.74
Profit After Tax	579.32	864.63	633.53	346.38
Net Worth	6,580.61	5,935.17	5,268.11	2,995.60
Reserves and Surplus	2,550.36	2,310.96	1,776.05	1,386.12
Total Borrowing	39,850.19	40,165.23	27,613.07	24,000.00
Amount in ₹ Crore

Promoter Shareholding (Pre-Issue)

74.43%

100%

Promoter Shareholding (Post-Issue)

59.74%

75%

P/E Ratio

8.94

8.47

Market Cap

₹3087.54 Cr.

₹8600.85 Cr.

ROE

15.44%%

ROCE

Debt/Equity

6.77

EPS

₹6.73

₹3.78

RoNW

17.69%%

15.44%%

Shares Offered

In the ESAF Small Finance Bank IPO retail investors (RII) are offered 2,62,79,167 shares while in IREDA IPO retail investors are offered 2,62,79,167 shares. Qualified institutional buyers (QIB) are offered 1,50,16,669 shares in ESAF Small Finance Bank IPO and 13,40,13,152 shares in IREDA IPO.

	ESAF Small Finance Bank IPO	IREDA IPO
Anchor Investor Reserveration	2,25,24,998 shares	20,10,19,726 shares
Market Maker Reserveration
QIB	1,50,16,669 shares	13,40,13,152 shares
NII	1,12,62,500 shares	10,05,09,864 shares
RII	2,62,79,167 shares	23,45,23,015 shares
Employee	22,83,653 shares	18,75,420 shares
Others
Total	5,48,41,989 shares	47,09,21,451 shares

Bids Received (Subscription)

ESAF Small Finance Bank IPO subscribed 77.00x in total, whereas IREDA IPO subscribed 38.80x.

	ESAF Small Finance Bank IPO	IREDA IPO
QIB (times)	182.66x	104.57x
NII (times)	88.81x	24.16x
Big NII (times)	96.51x	26.99x
Small NII (times)	73.41x	18.50x
RII (times)	17.86x	7.73x
Employee (times)	4.59x	9.80x
Other (times)
Total (times)	77.00x	38.80x

Compare with others

ESAF Small Finance Bank IPO	IREDA IPO
Flair Writing IPO	Happy Forgings IPO
IREDA IPO	Muthoot Microfin IPO
Fedbank Financial Services IPO	DOMS IPO
Gandhar Oil Refinery India IPO	Allied Blenders IPO
ASK Automotive IPO	Flair Writing IPO
Cello World Limited IPO	Fedbank Financial Services IPO
Mamaearth IPO	Gandhar Oil Refinery India IPO
Blue Jet Healthcare IPO	ASK Automotive IPO
Protean eGov Technologies IPO	ESAF Small Finance Bank IPO
IRM Energy IPO	Cello World Limited IPO

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