KOLKATA: Suryoday Small Finance Bank has fixed a price band of Rs 303-305 per equity share for its initial public offer (IPO) which will hit the market on March 17. The bank would offer Rs 30 discount per share to its employees.
The size of the public issue would be Rs 582 crore considering the upper end of the price band. The issue will close on March 19. Size of the primary issue would be about Rs 249 crore while it also includes offer for sale worth Rs 333 crore.
International Finance Corporation-backed Suryoday will be the fourth small finance bank to go public after AU Small Finance Bank, Equitas Small Finance Bank and Ujjivan Small Finance Bank. Unlike Equitas and Ujjivan, Suryoday has no holding company.