Suryoday Small Finance Bank has a presence in 12 states and union territories across the country
Suryoday Small Finance Bank s Rs 582.33-crore initial public offering (IPO) opens for bidding today i.e. March 17. The company has fixed a price band at Rs 303-305 per share and plans to raise Rs 582.34 crore at the higher end of the price band. The offer will close on March 19. The shares are likely to be listed on BSE and NSE on March 30.
Suryoday Small Finance Bank s initial public offer comprises fresh issue of 81.50 lakh shares and an offer-for-sale (OFS) of up to 1.09 crore equity shares. Investors can place bids for a minimum of 49 equity shares and in multiples thereafter, translating into a minimum investment of Rs 14,945. A total of up to 50 per cent of the issue will be reserved for qualified institutional investors, 35 per cent for retail investors and 15 per cent for non-institutional investors. Five lakh equity shares will be offered to eligible employees, at a discount of
In an exclusive interview with ET NOW, Baskar Babu Ramachandran, MD & CEO, Suryoday Small Finance Bank said, The IPO size is about Rs 580 crore and of which Rs 250 crore is towards the primary issuance and the rest is an offer for sale. The funds via offer for sale will not come to the bank. The bank is well capitalized as of now and one of the reason to raise funds via IPO is to comply with the regulatory norm that Small Finance Bank (SFB) has to get listed within 3 years of reaching a Rs 500 crore networth threshold.
Ramachandran added, The bank has grown at a cagr of 47% in the last 3 years which is higher than the industry growth rate and believes that the growth momentum will continue. Focus would remain to serve the underserved segment which is to lend to the aspirational low income households, unsecured low income loans also known as microloans.
Suryoday Small Finance Bank Receives SEBI Nod To Launch IPO Suryoday Small Finance Bank Receives SEBI Nod To Launch IPO The IPO will comprise of a fresh issue of 1,15,95,000 shares and an offer for sale of up to 84,66,796 shares by the existing shareholders, according to draft papers filed with SEBI
Updated: December 29, 2020 1:30 pm IST
he small lender s shares are likely to be listed on both, the BSE Sensex and NSE Nifty
Suryoday Small Finance Bank has received the go-ahead from the markets regulator Securities and Exchanges Board of India (SEBI) to float its initial public offering (IPO). The small lender s shares are likely to be listed on both, the BSE Sensex and NSE Nifty, joining its listed peers Ujjivan SFB, AU Small Finance Bank and Equitas SFB.