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Suryoday Small Finance Bank Ltd IPO Detail

Suryoday Small Finance Bank Ltd IPO Detail

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

  1. Offer credit products like MFI loans, Vikas Loans, Shopkeeper Loans, etc.
  2. Offer digital banking, NPCI payment systems, and mobile technologies along with banking through traditional channels.
  3. Focus on the unserved and the underserved through innovative banking practices.
  4. Offers diversified asset portfolio with a focus on retail operations.

Company Promoters

The Promoters of our Bank are: Baskar Babu Ramachandran, P. Surendra Pai, P. S. Jagdish and G. V. Alankara.

IPO Details

IPO Opening DateMar 17, 2021
IPO Closing DateMar 19, 2021
Issue TypeBook Built Issue IPO
Face Value₹10 per equity share
IPO Price ₹303 - 305 per equity share
Market Lot49 Shares
Min Order Quantity49 Shares
Listing AtBSE, NSE
Issue Size₹582.34 Cr
Fresh Issue8,150,000 Eq Shares of ₹10 (aggregating up to ₹248.58 Cr)
Offer for Sale₹333.76 Cr
Retail Portion -

IPO Tentative Timetable

The Suryoday Small Finance Bank Ltd IPO open date is Mar 17, 2021, and the close date is Mar 19, 2021. The issue may list on Mar 26, 2021.

IPO Open DateMar 17, 2021
IPO Close DateMar 19, 2021
Basis of Allotment DateMar 24, 2021
Initiation of RefundsMar 24, 2021
Credit of Shares to Demat AccountMar 25, 2021
IPO Listing DateMar 26, 2021

IPO Lot Size

The Suryoday Small Finance Bank Ltd IPO market lot size is 49 shares. A retail-individual investor can apply for up to 13 lots (637 shares or ₹194285).

ApplicationLotsSharesAmount (Cut-off)

IPO Promoter Holding

Pre Issue Share Holding30.35%
Post Issue Share Holding28.02%

Company Financials:

For the year/period ended (₹ in Crs)

Financial Year Total Assets Total Revenue Profit After Tax
30-Sep-20 63,504.09 6,892.73 548.66
31-Mar-20 53,645.22 8,541.38 1,111.98
31-Mar-19 37,612.03 5,970.29 903.98
31-Mar-18 21,559.64 3,249.26 114.92

Objects of the Issue:

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.