Nirmal Bang recommends buying Epigral and Suryoday Small Finance Bank for May. Epigral shows growth potential with revenue and PAT increase despite challenges. Suryoday is expected to focus on growth after the restructuring exercise, aiming for advances growth and narrowing the valuation gap.
Suryoday Small Finance Bank IPO worth ₹581 crore opens today – should you subscribe?
Rounak JainMar 17, 2021, 10:24 IST
The Suryoday Small Finance Bank IPO has gone live todaySuryoday Small Finance Bank
Suryoday Small Finance Bank initial public offer (IPO) worth ₹581 crore has gone live today, and it will be open for subscription till March 19.
The price band is fixed at ₹303-305, and each lot consists of 49 equity shares.
Analysts are bullish on the bank, pointing to its strong credit processes, strong financial performance and cost-efficient operations.
The bank has proposed to use the proceeds of the IPO towards boosting its Tier-1 capital base to meet future capital requirements.Suryoday Small Finance Bank (SSFB) has kicked off its initial public offer (IPO) worth ₹581 crore today, March 17. It joins companies like Anupam Rasayan, Craftsman Automation, EaseMyTrip, MTAR Technologies among others that went public this year.
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.