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
- Offer credit products like MFI loans, Vikas Loans, Shopkeeper Loans, etc.
- Offer digital banking, NPCI payment systems, and mobile technologies along with banking through traditional channels.
- Focus on the unserved and the underserved through innovative banking practices.
- 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 Date | Mar 17, 2021 |
| IPO Closing Date | Mar 19, 2021 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹303 - 305 per equity share |
| Market Lot | 49 Shares |
| Min Order Quantity | 49 Shares |
| Listing At | BSE, NSE |
| Issue Size | ₹582.34 Cr |
| Fresh Issue | 8,150,000 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 Date | Mar 17, 2021 |
| IPO Close Date | Mar 19, 2021 |
| Basis of Allotment Date | Mar 24, 2021 |
| Initiation of Refunds | Mar 24, 2021 |
| Credit of Shares to Demat Account | Mar 25, 2021 |
| IPO Listing Date | Mar 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).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 49 | ₹14945 |
| Maximum | 13 | 637 | ₹194285 |
IPO Promoter Holding
| Pre Issue Share Holding | 30.35% |
| Post Issue Share Holding | 28.02% |
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.