Suryoday Small Finance Bank IPO

Suryoday Small Finance Bank IPO opens in the price band of Rs 303-305 on March 17, 2021. Eligible employees will receive a discount of Rs 30 per share if they apply. The initial public offering size of Rs 582 crores contains fresh issues of Rs 249 crores and Rs 333 cores of OFS scrips. The bidding window will close on March 19, 2021. Retail individual investors are given a quota of 35 percent in the issue size, must apply for a minimum lot size containing 49 shares.

Suryoday Small Finance Bank IPO

Issuer

Suryoday Small Finance Bank Ltd

IPO Date : 17th March 2021 - 19th March 2021
Price Band
₹303 to ₹305 per equity share

Issue Size
₹577 Cr - ₹581 Cr

Face Value
₹10 per equity share

Market Lot
49 Shares

Listing At
NSE,BSE
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Suryoday Small Finance Bank INFORMATION

Before becoming a small finance bank, Suryoday SFB was an NBFC. Incorporated in 2008, Suryoday NBFC mainly catered to the unbank and underbanked sections of the population. from 2017, it started offering small banking services to customers.

As of July 31, 2020, the bank had 482 branches and a customer base of 14.3 lakh in the urban and semi-urban areas.

The bank will use the capital raised from the IPO to strengthen its tier-1 capital base.

Suryoday Small Finance Bank’s IPO opened on the 17th of March, 2021, and continues till today, 19th March, 2021. The IPO price is Rs.303 to Rs.305 per equity share. The allotments will be finalized on the 24th of March and IPO shares will be listed on 30th March, 2021.
March 19: Day 3
March 18: Day 2
March 17: Day 1

As of 11:09 a.m.

  • Suryoday Small Finance Bank IPO was subscribed 1.22 times on the morning of the third day.

  • The IPO is a public issue of 13,515,150 equity shares. 

 

Subscription Status

  • Qualified institutional buyers (QIB): 0.26 times the reserved portion

  • No-institutional buyers (NII): 0.21 times the reserved portion

  • Retail individual investors: 2.27 times the reserved portion

  • Employees: 0.20 times the reserved portion.

 

The subscription rate of Suryodaya IPO went up from 0.13 times on Day 1 to 0.26 times on Day 3 morning. QIB, NII, Retail individual investors, and employee subscriptions showed little change from yesterday’s figures. 

As of 5:00 pm

  • The Suryoday Small Finance Bank IPO was subscribed 1.01 times on day 2 of bidding.
  • The IPO received 1.36 crore shares as against an offer size of 1.35 crore shares.

     

    Subscription Status
  • Qualified institutional buyers (QIB): 0.00 times the reserved portion
  • No-institutional buyers (NII): 0.20 times the reserved portion
  • Retail individual investors: 2.00 times the reserved portion
  • Employees: 0.17 times the reserved portion.

     

    As of 3:50 pm
  • The Suryoday Small Finance Bank IPO was subscribed 0.88 times so far on day 2 of bidding.
  • The IPO received 1.18 crore shares as against an offer size of 1.35 crore shares.

     

    Subscription Status
  • Qualified institutional buyers (QIB): 0.00 times the reserved portion
  • No-institutional buyers (NII): 0.13 times the reserved portion
  • Retail individual investors: 1.75 times the reserved portion
  • Employees: 0.11 times the reserved portion.

     

    As of 2:20 pm
  • The Suryoday Small Finance Bank IPO was subscribed 0.78 times so far on day 2 of bidding.
  • The IPO received 1.05 crore shares as against an offer size of 1.35 crore shares.

     

    Subscription Status
  • Qualified institutional buyers (QIB): 0.00 times the reserved portion
  • No-institutional buyers (NII): 0.13 times the reserved portion
  • Retail individual investors: 1.55 times the reserved portion
  • Employees: 0.09 times the reserved portion.

     

    As of 11:20 am
  • The Suryoday Small Finance Bank IPO was subscribed 0.65 times so far on day 2 of bidding.
  • The IPO received 88.29 lakh shares as against an offer size of 1.35 crore shares.

     

    Subscription Status
  • Qualified institutional buyers (QIB): Not bid yet
  • No-institutional buyers (NII): 0.06 times the reserved portion
  • Retail individual investors: 1.32 times the reserved portion
  • Employees: 0.08 times the reserved portion

 

The subscription to Suryodaya IPO went up from 0.13 times on Day 1 to 1.01 times on Day 2 with 0.01 crore shares in excess of the offered size of 1.35 crore shares. Non-institutional buyers (NII) increased from 0.00 times on Day 1 to 0.02 on Day 2. Retail individual investors and Employees’ shares went from 0.27 and 0.01 to 2.00 and 0.17 times respectively.

As of 7.00 p.m.

  • The Suryoday Small Finance Bank IPO was subscribed 0.42 times so far on day 1 of bidding.
  • The IPO received 56.32 lakh shares as against an offer size of 1.35 crore shares.

    Subscription Status
  • Qualified institutional buyers (QIB): Not bid yet
  • No-institutional buyers (NII): 0.04 times the reserved portion
  • Retail individual investors: 0.84 times the reserved portion
  • Employees: 0.06 times the reserved portion.

    As of 5:20 pm
  • The Suryoday Small Finance Bank IPO was subscribed 0.42 times so far on day 1 of bidding.
  • The IPO received 56.32 lakh shares as against an offer size of 1.35 crore shares.

    Subscription Status
  • Qualified institutional buyers (QIB): Not bid yet
  • No-institutional buyers (NII): 0.04 times the reserved portion
  • Retail individual investors: 0.84 times the reserved portion
  • Employees: 0.06 times the reserved portion.

    As of 3:40 pm
  • The Suryoday Small Finance Bank IPO was subscribed 0.3 times so far on day 1 of bidding.
  • The IPO received 40.12 lakh shares as against an offer size of 1.35 crore shares.

    Subscription Status
  • Qualified institutional buyers (QIB): Not bid yet
  • No-institutional buyers (NII): 0.02 times the reserved portion
  • Retail individual investors: 0.61 times the reserved portion
  • Employees: 0.01 times the reserved portion.

    As of 1:00 pm
  • The Suryoday Small Finance Bank IPO was subscribed 0.2 times so far on day 1 of bidding.
  • The IPO received 26.58 lakh shares as against an offer size of 1.35 crore shares.

    Subscription Status
  • Qualified institutional buyers (QIB): Not bid yet
  • No-institutional buyers (NII): 0.0 times the reserved portion
  • Retail individual investors: 0.41 times the reserved portion
  • Employees: 0.01 times the reserved portion.

    As of 11:40 pm
  • The Suryoday Small Finance Bank IPO was subscribed 0.13 times so far on day 1 of bidding.
  • The IPO received 17.45 lakh shares as against an offer size of 1.35 crore shares.

    Subscription Status
  • Qualified institutional buyers (QIB): Not bid yet
  • No-institutional buyers (NII): 0.0 times the reserved portion
  • Retail individual investors: 0.27 times the reserved portion
  • Employees: 0.01 times the reserved portion

Competitive strength

  • Diversified product portfolio with products like MFI loans, Vikas loans, Shopkeeper loans, and more
  • A proven track record in the industry
  • Offers digital banking, NPCI payment services and mobile banking solutions
  • Strong customer base through branch banking and digital banking solutions
  • Quality management and good backing from institutional investors
  • Company’s price to book value at 2.28 percent is reasonable compared to its peers

How to apply for Suryoday Small Finance Bank IPO :


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Suryoday Small Finance Bank IPO FAQs

What is an IPO?

Public companies release maiden shares for the general investors to raise capital from the market and get stock exchange listing benefits. Companies raise fresh investment by selling partial ownership of the firm.

What is Suryoday SFB IPO?

Suryoday Small Finance Bank will launch Rs 582 crores of IPO offer in the price band of Rs 303-305. The offer size contains both fresh shares and an offer for sale of Rs 333 cores worth of equities.

How to apply to Suryoday SFB through Angel Broking?

Current investors can log on to their account in our website or mobile app to apply for current IPO offers. Select Suryoday SBF IPO from the list to apply. Now enjoy many benefits from one account. Get an Angel Broking Demat account. Click here to open.

When will Suryoday SFB IPO open?

The two days IPO bidding window will open on March 17, 2021, until March 19, 2021.

What is the lot size of Suryoday SFB IPO?

The minimum lot size is 49 shares. Retail investors can bid for up to 13 lots of 637 shares for Rs 194,285.

How to apply for Suryoday SFB IPO?

Investors can apply through a stockbroker or bank, using ASBA (Application Supported By Blocked Amount).

When will Suryoday SFB IPO get allocated?

The issuer will finalise the share allotment on March 24, 2021.

When is the Suryoday SFB IPO listing date?

The IPO listing date is March 30, 2021. The shares will list in both the Bombay Stock Exchange and National Stock Exchange.

How do you pay for Suryoday SFB IPO using UPI?

Link your current bank account to a UPI payment handle – BHIM or Google Pay. During payment, a request will be sent to your UPI handle. Accept the mandate to complete the bidding process.

How will I receive the Suryoday SFB IPOs?

After completion of the allocation process, the shares will get credited directly to your Demat account on March 25, 2021. Don’t have a Demat? Open Angel Broking Demat account. click here.

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