A new entrant to the list of small finance banks applying for an IPO is the Suryoday Small Finance Bank Limited. Here’s everything that you need to know about the upcoming IPO.
About the company
Ever since the Suryoday Small Finance Bank Limited got incorporated in the year 2008, the company has been consistently promoting financial inclusion by serving the unbanked and the underbanked segments in the country. The company received its Small Finance Banking (SFB) license from RBI in the year 2017.
And since then, Suryoday Small Finance Bank Limited has quickly grown into one of India’s leading SFBs in terms of net interest margins, return on assets, and deposit growth. Thanks to a wide operational footprint that spans across 12 states and union territories, the company enjoys an extensive customer base of 1.43 million.
Suryoday Small Finance Bank Limited provides its services through its 3,949-strong employee base stationed in 482 banking outlets. The company witnessed a tremendous increase in its revenues from around Rs. 597 crores in FY19 to around Rs. 854.13 crores in FY20. In addition to that, the net profit has also grown from around Rs. 90.39 crores to around Rs. 111.19 crores.
Suryoday Small Finance Bank IPO details
Here’s an in-depth look at some of the important details of the Suryoday Small Finance Bank Ltd IPO including the Suryoday IPO date and the Suryoday Small Finance Bank share price.
Suryoday Bank IPO date
The opening date of the Suryoday Small Finance Bank Ltd IPO is 17th March, 2021 and the closing date is March 19th March, 2021.
Suryoday Small Finance Bank IPO issue size
Around 20,061,796 equity shares of the company are all set to be issued to the public via the Suryoday Small Finance Bank Ltd IPO.
The Suryoday Small Finance Bank Ltd IPO consists of a fresh issue of shares to the tune of around 11,595,000 equity shares and an Offer for Sale (OFS) from the promoters of the company to the tune of around 8,466,796 equity shares.
That said, the total value of the issue size has not been disclosed yet.
Suryoday Small Finance Bank share price
AThe offer price of the latest IPO from Suryoday Bank IPO is Rs. 303-305
Suryoday Small Finance Bank IPO listing
In a similar fashion to most of the recent IPOs, the upcoming Suryoday IPO has also been proposed to be listed on both the leading stock exchanges in India - the BSE and the NSE. In fact, the company has also received in-principle approvals from the stock exchanges.
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