Suryoday Small Finance Bank IPO Opened For Subscription

March 17, 2021 daknewsnetwork

Suryoday Small Finance Bank IPO: this IPO has opened for subscription, know important things.

The IPO of Suryoday Small Finance Bank has opened for subscription from Wednesday. This IPO can be subscribed till 19 March. The IPO is worth Rs 582.33 crore.

The company has fixed a price band of 303 to 305 rupees per share for this IPO. 81.50 lakh fresh shares have been put up for sale under this IPO. In addition, 1.09 crore equity shares are under Offer for Sale (OFS).

It is the fourth small finance bank to have an IPO. Earlier, AU Small Finance Bank, Ujjivan Small Finance Bank, and Equitas Small Finance Bank have launched their IPOs.

One lot in this issue is 49 shares. So investors can bid for at least 49 shares. That is, a minimum investment of Rs 14,847 can be made according to the lower price band.

The book running lead managers to this IPO are Axis Capital, ICICI Securities, IIFL Securities, and SBI Capital Markets.

In this issue of Suryoday Small Finance Bank, 5 lakh shares are reserved for the employees of the bank. In addition, a discount of 10 percent is also being given to the employees of the bank.

The bank’s existing investors in this IPO are International Finance Corporation 43,87,888 equity shares, Gaza Capital Fund II 20,21,952 shares, DWM (International) Mauritius 18,89,845 shares.

HDFC Holdings 7.5 lakh shares, IDFC First Bank 1.5 million shares, Americorp Ventures 1 lakh shares, Kotak Mahindra Life Insurance Company selling 1,86,966 shares, and Gaza Capital India AIF 1,06,419 shares.

Suryodaya Small Finance Bank offers affordable housing loans, commercial vehicle loans, and loans to small and medium businesses.

The net interest margin of this small finance bank was 11.92 percent in FY 2020. At the same time, the loan portfolio of the bank has increased to Rs 3900 crore by December 2020.

Let us know that the IPOs of five companies have been launched this week. The IPOs of Craftsman Automation and Laxmi Organics Industries opened on Monday, the first business day of the week.

At the same time, the IPO of Kalyan Jewelers (Kalyan Jewelers) opened on Tuesday. The IPOs of Suryoday Small Finance Bank and Nazara Technologies opened on Wednesday. Shares of these companies will be listed on BSE and NSE.