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Suryoday Small Finance Bank's IPO: Important Things to Know Before Subscribing
Suryoday Small Finance Bank's initial public offering (IPO) is expected to begin next Wednesday, March 17. Suryoday Bank is a Mumbai-based bank that was established in 2008. They are one of India's most well-known small finance banks. They cater to consumers who are unbanked or underbanked. They have a presence in ten states and represent 1.25 million people. MFI loans, Vikas Loans, Shopkeeper Loans, and other credit products are available. Along with conventional banking, they also deliver digital banking, NPCI payment systems, and mobile technologies. Check out the IPO date, price band, and market lot information for Suryoday Bank.
Important Things to Know
- Basker Baburamachandran. Sundar Pai, P. S. Jagadishand and G. V. Alankara are company promoters.
- The investors' portion for QIB-50%, NII-15%, and Retail 35%.
- The company has set a price range of Rs 303-305 per share, with each share having a face value of Rs 10.
- The Suryoday Bank IPO lead managers are Axis Capital Limited, ICICI Securities Limited, IIFL Securities Limited, and SBI Capital Markets Limited.
- Suryoday Bank IPO allotment date is 24 March 2021.
How to apply for Suryoday Small Finance Bank's IPO?
You can submit Suryoday Bank IPO via ASBA online via your bank account. You can apply for ASBA online through your stock brokers using UPI. You may also apply by filling out an offline form and sending it to your stock broker. The small finance bank has set aside 5 lakh shares for its workers, with qualifying employees receiving a discount of Rs 30 per share.
Details of Suryoday Small Finance Bank's IPO
| IPO Open: | 17 March 2021 |
| IPO Close: | 19 March 2021 |
| IPO Size: | Approx Rs 582.34 Crore |
| Face Value: | Rs 10 Per Equity Share |
| Price Band: | Rs 303 to Rs 305 Per Share |
| Listing on: | BSE & NSE |
| Retail Portion: | 35% |
| Equity: | 19,093,070 Shares |
Suryoday Bank IPO Market Lot
- Minimum Lot Size: Minimum of 49 Shares
- Minimum Amount: Rs 14,945
- Maximum Lot Size: Maximum of 637 Shares
- Maximum Amount: Rs 194,285
The small finance bank revealed the IPO in a virtual press conference, which includes a fresh issuance of 81,50,000 equity shares and an offer for sale of up to 1,09,43,070 equity scrips by existing shareholders. The IPO will raise Rs 582 crore at the top of the price band.
Over 20 institutional investors, including development funds and private equity firms, have invested in the small finance bank.
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