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Suryoday Small Finance Bank Ltd IPO (Suryoday Small Finance Bank IPO) Detail

March 17, 2021 - March 19, 2021

Suryoday Small Finance Bank IPO is a book built issue of Rs 582.34 crores. The issue is a combination of fresh issue of 0.82 crore shares aggregating to Rs 248.58 crores and offer for sale of 1.09 crore shares aggregating to Rs 333.76 crores.

Suryoday Small Finance Bank IPO bidding started from March 17, 2021 and ended on March 19, 2021. The allotment for Suryoday Small Finance Bank IPO was finalized on Wednesday, March 24, 2021. The shares got listed on BSE, NSE on March 26, 2021.

Suryoday Small Finance Bank IPO price band is set at ₹303 to ₹305 per share. The minimum lot size for an application is 49 Shares. The minimum amount of investment required by retail investors is ₹14,945.

Axis Capital Limited, ICICI Securities Limited, Iifl Securities Ltd and SBI Capital Markets Limited are the book running lead managers of the Suryoday Small Finance Bank IPO, while Kfin Technologies Limited is the registrar for the issue.

Refer to Suryoday Small Finance Bank IPO RHP for detailed information.

Suryoday Small Finance Bank IPO Details

IPO Date March 17, 2021 to March 19, 2021
Listing Date March 26, 2021
Face Value ₹10 per share
Price Band ₹303 to ₹305 per share
Lot Size 49 Shares
Total Issue Size19,093,070 shares
(aggregating up to ₹582.34 Cr)
Fresh Issue8,150,000 shares
(aggregating up to ₹248.58 Cr)
Offer for Sale10,943,070 shares of ₹10
(aggregating up to ₹333.76 Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE

Suryoday Small Finance Bank IPO Reservation

Suryoday Small Finance Bank IPO offers 13,515,150 shares. 3,718,614 (27.51%) to QIB, 2,788,961 (20.64%) to NII, 6,507,575 (48.15%) to RII, 500,000 (3.70%) to employees. 132,807 RIIs will receive minimum 49 shares and (sNII) and (bNII) will receive minimum 686 shares. (in case of oversubscription)

Investor Category Shares OfferedMaximum Allottees
Anchor Investor Shares Offered-NA
QIB Shares Offered3,718,614 (27.51%)NA
NII (HNI) Shares Offered2,788,961 (20.64%)
Retail Shares Offered6,507,575 (48.15%)132,807
Employee Shares Offered500,000 (3.70%)NA
Total Shares Offered13,515,150 (100%)

Suryoday Small Finance Bank IPO Timeline (Tentative Schedule)

Suryoday Small Finance Bank IPO opens on March 17, 2021, and closes on March 19, 2021.

IPO Open Date Wednesday, March 17, 2021
IPO Close Date Friday, March 19, 2021
Basis of Allotment Wednesday, March 24, 2021
Initiation of Refunds Wednesday, March 24, 2021
Credit of Shares to Demat Thursday, March 25, 2021
Listing Date Friday, March 26, 2021
Cut-off time for UPI mandate confirmation 5 PM on March 19, 2021

Suryoday Small Finance Bank IPO Lot Size

Investors can bid for a minimum of 49 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (Min) 1 49 ₹14,945
Retail (Max) 13 637 ₹194,285
Lot Size Calculator

Suryoday Small Finance Bank IPO Promoter Holding

The Promoters of our Bank are:

  1. Baskar Babu Ramachandran;
  2. P. Surendra Pai;
  3. P. S. Jagdish; and
  4. G. V. Alankara.
Share Holding Pre Issue 30.35%
Share Holding Post Issue 28.02%

About Suryoday Small Finance Bank Ltd

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

  1. Offer credit products like MFI loans, Vikas Loans, Shopkeeper Loans, etc.
  2. Offer digital banking, NPCI payment systems, and mobile technologies along with banking through traditional channels.
  3. Focus on the unserved and the underserved through innovative banking practices.
  4. Offers diversified asset portfolio with a focus on retail operations.

Company Financials

Summary of financial Information (Restated Consolidated)
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

Objects of the Issue (Suryoday Small Finance Bank IPO Objectives)

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.

Suryoday Small Finance Bank IPO Review (May apply)

[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...


Suryoday Small Finance Bank IPO Subscription Status (Bidding Detail)

The Suryoday Small Finance Bank IPO is subscribed 2.37 times on March 19, 2021 5:00:00 AM. The public issue subscribed 3.09 times in the retail category, 2.18 times in the QIB category, and 1.31 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
QIB2.18
NII1.31
Retail3.09
Employee0.34
Total2.37

Suryoday Small Finance Bank IPO Prospectus

Suryoday Small Finance Bank IPO Rating

450
3.8
Rating:Rated 3.8 stars
Vote Here ...

Suryoday Small Finance Bank IPO Listing Details

Listing Date March 26, 2021
BSE Script Code 543279
NSE Symbol SURYODAY
ISIN INE428Q01011
Final Issue Price ₹305 per share

Pre-Open Session - NSE Pre-Open Session - BSE

Listing Day Trading Information

Price Details
Final Issue Price
Open
Low
High
Last Trade
BSE
₹305.00
₹293.00
₹262.05
₹295.95
₹276.20
NSE
₹305.00
₹292.00
₹255.00
₹296.35
₹277.80

Check IPO Performance…

Suryoday Small Finance Bank Ltd Contact Details

Suryoday Small Finance Bank Ltd
Unit No. 1101, Sharda Terraces,
Plot No. 65, Sector 11, CBD Belapur,
Navi Mumbai 400 614
Phone: +91 22 4043 5800
Email: company.secretary@suryodaybank.com
Website: https://www.suryodaybank.com/

Suryoday Small Finance Bank IPO Registrar

Kfin Technologies Limited

Phone: 04067162222, 04079611000
Email: suryodayasfb.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/

Suryoday Small Finance Bank IPO - Buy or Not

Suryoday Small Finance Bank IPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 1 0 1
Members 0 0 0

Read All Reviews Post Your Review Manage Reviews

Suryoday Small Finance Bank IPO FAQs

Suryoday Small Finance Bank IPO is a main-board IPO of 19,093,070 equity shares of the face value of ₹10 aggregating up to ₹582.34 Crores. The issue is priced at ₹303 to ₹305 per share. The minimum order quantity is 49 Shares.

The IPO opens on March 17, 2021, and closes on March 19, 2021.

Kfin Technologies Limited 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

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Suryoday Small Finance Bank IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

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 Shares, and the minimum amount required is ₹14,945.

You can apply in Suryoday Small Finance Bank IPO online using either UPI or ASBA as 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 apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, 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 March 26, 2021.
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Suryoday Small Finance Bank IPO Message Board

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339 Comments

183. FinancePreneur |   Link |  Bookmark |April 4, 2021 4:40:21 AM
TO all the IPO Guru''s, by when can we expect the price to go up more than the subscription price offered ?

Are there any triggers expected within the company like milestones if any, which may cause the price to go up ?
183.1. arunARUN |   Link |  Bookmark |April 8, 2021 2:19:46 PM
IPO Guru IPO Guru (1800+ Posts, 1600+ Likes)
First trigger may be the annual result expected by 1st or 2nd week of May 2021
182. Arpanp |   Link |  Bookmark |April 7, 2021 4:19:20 PM
hold or exit 305 suryodhay bank
181. Athar |   Link |  Bookmark |April 1, 2021 7:47:01 AM (200+ Posts)
Dear Forum members please suggest that how to get the allotted shares . Money was getting depited in suryodaya small finance ltd.Mails were given to company secretary and registrar to the issue Kfintech
180. Athar |   Link |  Bookmark |March 30, 2021 7:51:52 AM (200+ Posts)
I have applied to third party account through my SBI savings bank and got allotment to all five accounts.Money got depited to all five account.For one account shares are not credited to the demat account.Kindly guide me that how to get the shares.Thanks a lot for your guidance.Suryoday small finance. Shares
180.1. Ashish Khater |   Link |  Bookmark |March 30, 2021 8:58:36 PM
IPO Mentor IPO Mentor (500+ Posts, 400+ Likes)
Kindly check whether all the accounts have been alloted in registrar''s website. If not then raise a compliant on Sbi'' s website for the unauthorised debit. They will respond.
Jai Jinendra....Jai Shree Ram
179. Athar |   Link |  Bookmark |March 30, 2021 4:22:25 PM (200+ Posts)
Dear Admin
Amount depited but shares are credited to the account.Kindly guide to get the alloted shares
179.1. Athar |   Link |  Bookmark |March 30, 2021 4:23:36 PM (200+ Posts)
Shares are not credited to the account
178. ipobull |   Link |  Bookmark |March 30, 2021 1:12:02 PM
IPO Guru IPO Guru (1000+ Posts, 1000+ Likes)
There is no respite from downfall. This bank''s management had come to loot retail investors and they were successful. I''d advised fellow forum members to avoid this IPO, but many made up their mind that the stock will list at premium. Now they are having a reality check.
177. mDelhi |   Link |  Bookmark |March 17, 2021 10:41:51 AM
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
Suryoday Small Finance Bank IPO Reviews / Ratings is given by only two
Dilip Davda Sir and Axis Capital.
What about other(s) people and group(s) or this IPO is not that much good for review
176. IPO Rock Star |   Link |  Bookmark |March 26, 2021 6:02:46 PM
न आज सूर्योदय हुआ बल्कि ओले गिरने से सिर का कल्यान और हो गया, 🤣🤣🤣🤣🤣🤣🤣🤣
175. Secret Superstar |   Link |  Bookmark |March 26, 2021 4:00:51 PM
अब कहाँ है सब GMP Guru ?
174. ashoke mukhopadhyay |   Link |  Bookmark |March 26, 2021 2:46:04 PM
Not received refund in sbi absa till 26.03.2021 from lien in my sbi a/c for unsuccessful bid of ssfb iPo .
173. amukho |   Link |  Bookmark |March 24, 2021 8:52:36 PM
I got 2/2 allotment. As my experience from the past, whenever I get allotment, it used to list at a discount
173.2. Ankit R patel |   Link |  Bookmark |March 26, 2021 1:00:09 PM
kahani har investors kiiiiii.....
173.3. iRFAN kHAN |   Link |  Bookmark |March 26, 2021 2:18:36 PM
Dmart / Route Mobile / Heranba allotment changed my thought...
172. Amit Pathak |   Link |  Bookmark |March 26, 2021 1:43:29 PM
I think Suryoday is dark horse.
171. amukho |   Link |  Bookmark |March 26, 2021 1:07:19 PM
I have not received allotment. However money is still blocked in my SBI ASBA. What to do?
170. ipobull |   Link |  Bookmark |March 26, 2021 12:59:02 PM
IPO Guru IPO Guru (1000+ Posts, 1000+ Likes)
My message no. 119 is proved correct as expected. The stock is trading at huge discount.
169. Rafiq |   Link |  Bookmark |March 26, 2021 9:51:28 AM
Top Contributor Top Contributor (400+ Posts, 400+ Likes)
Pre open 292 (4.26% Down) as on 9.51 AM 26 march 21
168. djpv |   Link |  Bookmark |March 26, 2021 12:49:07 AM
I am amazed to see that my IPO application is rejected on technical grounds.RTA has not given any detail,I submitted only one application throygh SBI ASBA and none else.My money is also not un blocked from the bank.Please advice what I need to be done IPO is going to be listed to morrow
168.3. djpv |   Link |  Bookmark |March 26, 2021 9:35:04 AM
Thanks for enquiry Application was submitted on 18th march and got mail for the confirmation from BSE also
168.4. djpv |   Link |  Bookmark |March 26, 2021 9:39:36 AM
Application was submitted on 18th m1rch one day before than closing date 19th Got confirmation from BSE also
167. Manup |   Link |  Bookmark |March 26, 2021 9:28:12 AM
Top Contributor Top Contributor (400+ Posts, 200+ Likes)
Gyani baba absconded ☺️☺️Last seen in Himalaya
167.1. Cautious ipo |   Link |  Bookmark |March 26, 2021 9:35:05 AM
IPO Guru IPO Guru (1900+ Posts, 1100+ Likes)
In icu deep coma😊
166. Traderforever |   Link |  Bookmark |March 26, 2021 9:32:15 AM
B quality bank, no growth in long term,if you get an opportunity to get some profit just take it.
Iit will come to 200 in a year or so
165. RCBOOK |   Link |  Bookmark |March 26, 2021 9:23:36 AM
is it listing today
164. RUSHIPATEL |   Link |  Bookmark |March 26, 2021 9:06:08 AM
In discount At 275