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Suryoday Small Finance Bank IPO is a book built issue of Rs 582.34 crores. The issue is a combination of fresh issue of 0.82 crore shares aggregating to Rs 248.58 crores and offer for sale of 1.09 crore shares aggregating to Rs 333.76 crores.
Suryoday Small Finance Bank IPO bidding started from March 17, 2021 and ended on March 19, 2021. The allotment for Suryoday Small Finance Bank IPO was finalized on Wednesday, March 24, 2021. The shares got listed on BSE, NSE on March 26, 2021.
Suryoday Small Finance Bank IPO price band is set at ₹303 to ₹305 per share. The minimum lot size for an application is 49 Shares. The minimum amount of investment required by retail investors is ₹14,945.
Axis Capital Limited, ICICI Securities Limited, Iifl Securities Ltd and SBI Capital Markets Limited are the book running lead managers of the Suryoday Small Finance Bank IPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to Suryoday Small Finance Bank IPO RHP for detailed information.
| IPO Date | March 17, 2021 to March 19, 2021 |
| Listing Date | March 26, 2021 |
| Face Value | ₹10 per share |
| Price Band | ₹303 to ₹305 per share |
| Lot Size | 49 Shares |
| Total Issue Size | 19,093,070 shares (aggregating up to ₹582.34 Cr) |
| Fresh Issue | 8,150,000 shares (aggregating up to ₹248.58 Cr) |
| Offer for Sale | 10,943,070 shares of ₹10 (aggregating up to ₹333.76 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 97,980,826 |
| Share holding post issue | 106,130,826 |
Suryoday Small Finance Bank IPO offers 13,515,150 shares. 3,718,614 (27.51%) to QIB, 2,788,961 (20.64%) to NII, 6,507,575 (48.15%) to RII, 500,000 (3.70%) to employees. 132,807 RIIs will receive minimum 49 shares and (sNII) and (bNII) will receive minimum 686 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 3,718,614 (27.51%) | NA |
| NII (HNI) Shares Offered | 2,788,961 (20.64%) | |
| Retail Shares Offered | 6,507,575 (48.15%) | 132,807 |
| Employee Shares Offered | 500,000 (3.70%) | NA |
| Total Shares Offered | 13,515,150 (100%) |
Suryoday Small Finance Bank IPO opens on March 17, 2021, and closes on March 19, 2021.
| IPO Open Date | Wednesday, March 17, 2021 |
| IPO Close Date | Friday, March 19, 2021 |
| Basis of Allotment | Wednesday, March 24, 2021 |
| Initiation of Refunds | Wednesday, March 24, 2021 |
| Credit of Shares to Demat | Thursday, March 25, 2021 |
| Listing Date | Friday, March 26, 2021 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 19, 2021 |
Investors can bid for a minimum of 49 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 49 | ₹14,945 |
| Retail (Max) | 13 | 637 | ₹194,285 |
| Lot Size Calculator | |||
The Promoters of our Bank are:
| Share Holding Pre Issue | 30.35% |
| Share Holding Post Issue | 28.02% |
Incorporated in 2008, Suryoday Small Finance Bank Ltd is a leading Small Finance Bank(SFB) in India. The company started offering SFB services in 2017. They serve customers in the unbanked and underbanked segments. Before SBF, the company operated as an NBFC.
As of July 31, 2020, the company had 482 Banking Outlets and had a customer base of 14.3 lakh. The company operates predominantly in urban and semi-urban locations.
As a bank, Company
| Particulars | For the year/period ended (₹ in millions) | ||||
|---|---|---|---|---|---|
| 31-Dec-20 | 31-Mar-20 | 31-Mar-19 | 31-Mar-18 | ||
| Total Assets | 63,504.09 | 53,645.22 | 37,612.03 | 21,559.64 | |
| Total Revenue | 6,892.73 | 8,541.38 | 5,970.29 | 3,249.26 | |
| Profit After Tax | 548.66 | 1,111.98 | 903.98 | 114.92 | |
The Bank proposes to utilize the Net Proceeds from the Fresh Issue towards augmenting the Bank's Tier-1 capital base to meet the Bank's future capital requirements.
[Dilip Davda] Except for FY21-9M, SSFBL posted growth in its top and bottom lines. Due to the pandemic scare, it suffered a set back for the first nine months working for the current fiscal. However, management is confident of speedy recovery going forward. Considering aggressive pricing, cash surplus-risk savvy investors may consider investment at their own risks. Read detail review...
The Suryoday Small Finance Bank IPO is subscribed 2.37 times on March 19, 2021 5:00:00 AM. The public issue subscribed 3.09 times in the retail category, 2.18 times in the QIB category, and 1.31 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 2.18 |
| NII | 1.31 |
| Retail | 3.09 |
| Employee | 0.34 |
| Total | 2.37 |
| Listing Date | March 26, 2021 |
| BSE Script Code | 543279 |
| NSE Symbol | SURYODAY |
| ISIN | INE428Q01011 |
| Final Issue Price | ₹305 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹305.00 |
| ₹293.00 |
| ₹262.05 |
| ₹295.95 |
| ₹276.20 |
| NSE |
|---|
| ₹305.00 |
| ₹292.00 |
| ₹255.00 |
| ₹296.35 |
| ₹277.80 |
Suryoday Small Finance Bank Ltd
Unit No. 1101, Sharda Terraces,
Plot No. 65, Sector 11, CBD Belapur,
Navi Mumbai 400 614
Phone: +91 22 4043 5800
Email: company.secretary@suryodaybank.com
Website: https://www.suryodaybank.com/
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: suryodayasfb.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
Suryoday Small Finance Bank IPO is a main-board IPO of 19,093,070 equity shares of the face value of ₹10 aggregating up to ₹582.34 Crores. The issue is priced at ₹303 to ₹305 per share. The minimum order quantity is 49 Shares.
The IPO opens on March 17, 2021, and closes on March 19, 2021.
Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Suryoday Small Finance Bank IPO using UPI as a payment gateway. Zerodha customers can apply in Suryoday Small Finance Bank IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Suryoday Small Finance Bank IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Suryoday Small Finance Bank IPO opens on March 17, 2021 and closes on March 19, 2021.
Suryoday Small Finance Bank IPO lot size is 49 Shares, and the minimum amount required is ₹14,945.
You can apply in Suryoday Small Finance Bank IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Suryoday Small Finance Bank IPO will be done on Wednesday, March 24, 2021, and the allotted shares will be credited to your demat account by Thursday, March 25, 2021. Check the Suryoday Small Finance Bank IPO allotment status.
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Are there any triggers expected within the company like milestones if any, which may cause the price to go up ?