ESAF Small Finance Bank IPO vs Protean eGov Technologies IPO

Comparision between ESAF Small Finance Bank IPO and Protean eGov Technologies IPO.

IPO Details

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

	ESAF Small Finance Bank IPO	Protean eGov Technologies IPO
Logo
Issue Category	Mainline	Mainline
Issue Type	IPO	IPO
Process Type	Book Built Issue	Book Built Issue
Listing At	BSE, NSE	BSE
Lead Managers	ICICI Securities Limited Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd) Nuvama Wealth Management Limited	ICICI Securities Limited Equirus Capital Private Limited Iifl Securities Ltd Nomura Financial Advisory And Securities (India) Pvt Ltd
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 Protean eGov Technologies IPO is up to ₹490.33 Cr. The final issue price of ESAF Small Finance Bank IPO is ₹60.00 per share and of Protean eGov Technologies IPO is ₹792.00 per share.

	ESAF Small Finance Bank IPO	Protean eGov Technologies IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)	₹57.00 per share	₹752.00 per share
Issue Price (Upper)	₹60.00 per share	₹792.00 per share
Issue Price (Final)	₹60.00 per share	₹792.00 per share
Discount (Retail)
Discount (Employee)	₹5.00 per share	₹75.00 per share
Market Lot Size	250 shares	18 shares
Fresh Issue Size	6,51,16,667 shares
Fresh Issue Size (Amount)	up to ₹390.70 Cr
OFS Issue Size	1,20,50,000 shares	61,91,000 shares
OFS Issue Size (Amount)	up to ₹72.30 Cr	up to ₹490.33 Cr
Issue Size Total	7,71,66,667 shares	61,91,000 shares
Issue Size Total (Amount)	up to ₹463.00 Cr	up to ₹490.33 Cr

IPO Timetable

ESAF Small Finance Bank IPO opens on Nov 03, 2023, while Protean eGov Technologies IPO opens on Nov 06, 2023. The closing date of ESAF Small Finance Bank IPO and Protean eGov Technologies IPO is Nov 07, 2023, and Nov 08, 2023, respectively.

	ESAF Small Finance Bank IPO	Protean eGov Technologies IPO
Anchor Bid Date	Nov 02, 2023	Nov 03, 2023
Issue Open	Nov 03, 2023	Nov 06, 2023
Issue Close	Nov 07, 2023	Nov 08, 2023
Basis Of Allotment (Tentative)	Nov 08, 2023	Nov 13, 2023
Initiation of Refunds (Tentative)	Nov 08, 2023	Nov 15, 2023
Credit of Share (Tentative)	Nov 09, 2023	Nov 16, 2023
Listing date (Tentative)	Nov 10, 2023	Nov 13, 2023
Anchor Lockin End date 1	Dec 08, 2023	Dec 13, 2023
Anchor Lockin End date 2	Feb 06, 2024	Feb 11, 2024

Financials

ESAF Small Finance Bank IPO P/E ratio is 8.94, as compared to Protean eGov Technologies IPO P/E ratio of 29.91.

ESAF Small Finance Bank IPO

Protean eGov Technologies 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

Protean eGov Technologies Limited Financial Information (Restated Consolidated)

Protean eGov Technologies Limited's revenue increased by 1.78% and profit after tax (PAT) dropped by -25.63% 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	1,133.86	1,104.10	988.14	862.39
Revenue	233.17	783.87	770.18	652.03
Profit After Tax	32.21	107.04	143.94	92.19
Net Worth	888.10	856.94	788.00	667.46
Reserves and Surplus	847.48	816.33	747.43	627.14
Total Borrowing
Amount in ₹ Crore

Promoter Shareholding (Pre-Issue)

74.43%

Promoter Shareholding (Post-Issue)

59.74%

P/E Ratio

8.94

29.91

Market Cap

₹3087.54 Cr.

₹3203.38 Cr.

ROE

12.49%%

ROCE

16.13%%

Debt/Equity

EPS

₹6.73

₹26.48

RoNW

17.69%%

12.49%%

Shares Offered

In the ESAF Small Finance Bank IPO retail investors (RII) are offered 2,62,79,167 shares while in Protean eGov Technologies 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 12,08,200 shares in Protean eGov Technologies IPO.

	ESAF Small Finance Bank IPO	Protean eGov Technologies IPO
Anchor Investor Reserveration	2,25,24,998 shares	18,12,300 shares
Market Maker Reserveration
QIB	1,50,16,669 shares	12,08,200 shares
NII	1,12,62,500 shares	9,06,150 shares
RII	2,62,79,167 shares	21,14,350 shares
Employee	22,83,653 shares	1,50,000 shares
Others
Total	5,48,41,989 shares	43,78,700 shares

Bids Received (Subscription)

ESAF Small Finance Bank IPO subscribed 77.00x in total, whereas Protean eGov Technologies IPO subscribed 23.86x.

	ESAF Small Finance Bank IPO	Protean eGov Technologies IPO
QIB (times)	182.66x	46.94x
NII (times)	88.81x	31.62x
Big NII (times)	96.51x	33.14x
Small NII (times)	73.41x	28.58x
RII (times)	17.86x	8.93x
Employee (times)	4.59x	1.49x
Other (times)
Total (times)	77.00x	23.86x

Compare with others

ESAF Small Finance Bank IPO	Protean eGov Technologies IPO
Flair Writing IPO	ASK Automotive IPO
IREDA IPO	ESAF Small Finance Bank IPO
Fedbank Financial Services IPO	Cello World Limited IPO
Gandhar Oil Refinery India IPO	Mamaearth IPO
ASK Automotive IPO	Blue Jet Healthcare IPO
Cello World Limited IPO	IRM Energy IPO
Mamaearth IPO	Plaza Wires IPO
Blue Jet Healthcare IPO	Updater Services IPO
Protean eGov Technologies IPO	Valiant Laboratories IPO
IRM Energy IPO	Manoj Vaibhav Gems 'N' Jewellers IPO

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