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Suryoday Small Finance Bank IPO is a book build issue of ₹581.98 crores. The issue is a combination of fresh issue of 0.82 crore shares aggregating to ₹248.42 crores and offer for sale of 1.09 crore shares aggregating to ₹333.56 crores.
Suryoday Small Finance Bank IPO bidding started from Mar 17, 2021 and ended on Mar 19, 2021. The allotment for Suryoday Small Finance Bank IPO was finalized on Mar 24, 2021. The shares got listed on BSE, NSE on Mar 26, 2021.
Suryoday Small Finance Bank IPO price band is set at ₹305.00 per share . The lot size for an application is 49. The minimum amount of investment required by an retail is ₹14,847 (49 shares). The lot size investment for sNII is 14 lots (686 shares), amounting to ₹2,09,230, and for bNII, it is 67 lots (3,283 shares), amounting to ₹10,01,315.
The issue includes a reservation of up to 5,00,000 shares for employees offered at a discount of ₹30.00 to the issue price.
Axis Capital Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Suryoday Small Finance Bank IPO RHP for detailed Information.
| IPO Date | March 17, 2021 to March 19, 2021 |
| Listing Date | March 26, 2021 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹303 to ₹305 per share |
| Issue Price Final | ₹305 per share |
| Lot Size | 49 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 1,90,93,070 shares (aggregating up to ₹581.98 Cr) |
| Fresh Issue | 81,50,000 shares (aggregating up to ₹248.42 Cr) |
| Offer for Sale | 1,09,43,070 shares of ₹10 (aggregating up to ₹333.56 Cr) |
| Employee Discount | ₹30.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 9,79,80,826 shares |
| Share Holding Post Issue | 10,61,30,826 shares |
Suryoday Small Finance Bank IPO offers total 1,90,93,070 shares. Out of which 92,96,534 (48.69%) allocated to QIB, 37,18,614 (19.48%) allocated to QIB, 27,88,961 (14.61%) allocated to NII, 65,07,575 (34.08%) allocated to RII and 55,77,920 (29.21%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 92,96,534 (48.69%) | NA |
| − Anchor Investor Shares Offered | 55,77,920 (29.21%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 37,18,614 (19.48%) | NA |
| NII (HNI) Shares Offered | 27,88,961 (14.61%) | NA |
| Retail Shares Offered | 65,07,575 (34.08%) | 1,32,807 |
| Employee Shares Offered | 5,00,000 (2.62%) | NA |
| Total Shares Offered | 1,90,93,070 (100.00%) |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Suryoday Small Finance Bank IPO opens on March 17, 2021, and closes on March 19, 2021.
| IPO Open Date | Wed, Mar 17, 2021 |
| IPO Close Date | Fri, Mar 19, 2021 |
| Tentative Allotment | Wed, Mar 24, 2021 |
| Initiation of Refunds | Wed, Mar 24, 2021 |
| Credit of Shares to Demat | Thu, Mar 25, 2021 |
| Tentative Listing Date | Fri, Mar 26, 2021 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Mar 19, 2021 |
Investors can bid for a minimum of 49 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 49 | ₹14,945 |
| Retail (Max) | 13 | 637 | ₹1,94,285 |
| S-HNI (Min) | 14 | 686 | ₹2,09,230 |
| S-HNI (Max) | 66 | 3,234 | ₹9,86,370 |
| B-HNI (Min) | 67 | 3,283 | ₹10,01,315 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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
| Particulars | For the year/period ended (₹ in millions) | ||||
|---|---|---|---|---|---|
| 31-Dec-20 | 31-Mar-20 | 31-Mar-19 | 31-Mar-18 | ||
| Total Assets | 63,504.09 | 53,645.22 | 37,612.03 | 21,559.64 | |
| Total Revenue | 6,892.73 | 8,541.38 | 5,970.29 | 3,249.26 | |
| Profit After Tax | 548.66 | 1,111.98 | 903.98 | 114.92 | |
The Company Suryoday Small Finance Bank IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Augmenting our Bank’s Tier –1 capital base to meet our Bank’s futurecapital requirements |
[Dilip Davda] Except for FY21-9M, SSFBL posted growth in its top and bottom lines. Due to the pandemic scare, it suffered a set back for the first nine months working for the current fiscal. However, management is confident of speedy recovery going forward. Considering aggressive pricing, cash surplus-risk savvy investors may consider investment at their own risks. Read detail review...
| Listing Date | March 26, 2021 |
| BSE Script Code | 543279 |
| NSE Symbol | SURYODAY |
| ISIN | INE428Q01011 |
| Final Issue Price | ₹305 per share |
| BSE Listing Group | B |
Suryoday Small Finance Bank Ltd.
Unit No. 1101, Sharda Terraces,
Plot No. 65, Sector 11, CBD Belapur,
Navi Mumbai 400 614
Navi Mumbai, Maharashtra
Phone: +91 22 4043 5800
Email: company.secretary@suryodaybank.com
Website: https://www.suryodaybank.com/
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: suryodayasfb.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/
Suryoday Small Finance Bank IPO is a main-board IPO of 1,90,93,070 equity shares of the face value of ₹10 aggregating up to ₹581.98 Crores. The issue is priced at ₹305 per share. The minimum order quantity is 49.
The IPO opens on March 17, 2021, and closes on March 19, 2021.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Suryoday Small Finance Bank IPO using UPI as a payment gateway. Zerodha customers can apply in Suryoday Small Finance Bank IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Suryoday Small Finance Bank IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Suryoday Small Finance Bank IPO opens on March 17, 2021 and closes on March 19, 2021.
Suryoday Small Finance Bank IPO lot size is 49, and the minimum amount required for application is ₹14,945.
You can apply in Suryoday Small Finance Bank IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Suryoday Small Finance Bank IPO will be done on Wednesday, March 24, 2021, and the allotted shares will be credited to your demat account by Thursday, March 25, 2021. Check the Suryoday Small Finance Bank IPO allotment status.
The Suryoday Small Finance Bank IPO listing date is on Friday, March 26, 2021.
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