Suryoday Small Finance Bank is among the leading SFBs in India in terms of total interest rates, asset returns, yield and deposit growth and has the lowest rate of earning revenue for SFBs in India at FY2020.
Prior to the start of operations as an SFB in January 2017, the company operated as an NBFC – MFI that operates small-scale financial services through a joint group loan model by providing unpaid loans, small tickets to vulnerable economic women. categories.
Over the years, it has split its loan portfolio to include non-chemical bank loans. The company started operating on a small scale in 2009 and has since expanded operations in all 12 districts and union areas, from 31 July 2020.
Its customer base stood at 1.43 million and its staff had 3,949 employees and 482 Banking Outlets including 137 Non-Provided Rural Institutions (URCs). As of 31 March 2020, 32.72%, 29.72% and 30.80% of its Gross Advances came from major cities, towns and cities (based on branch locations as separated by RBI), respectively.
Competitive Strengths
- Offer credit products such as MFI loans, Vikas Loans, Storage Loans, etc.
- Provide digital banking, NPCI payment systems, mobile technology and traditional banking banking.
- Focus on the unused and saved ones with new banking practices.
- It offers a portfolio of various assets with a focus on sales activities.
Company Promoters
The Promoters of our Bank are:
Baskar Babu Ramachandran, P. Surendra Pai, P. S. Jagdish and G. V. Alankara.
Company Financials
| 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
The Bank proposes to use the Fresh Issue Profit to supplement the Tier-1 Bank’s capital to meet the bank’s future needs.
Suryoday Small Finance Bank IPO Details
| IPO Opening Date | 17 MAR, 2021 |
| IPO Closing Date | 19 MAR, 2021 |
| Issue Type | Book Built Issue IPO |
| Issue Size | ₹ 582.34 Cr. |
| Face Value | ₹10 per equity share |
| IPO Price | [303] to [305] per equity share |
| Market Lot | 49 Shares |
| Min Order Quantity | 49 Shares |
| Listing At | BSE, NSE |
| Total Share Issue | 1,90,93,070 Equity Shares |
Suryoday Small Finance Bank IPO – Schedule
| IPO Open Date | 17 MAR, 2021 |
| IPO Close Date | 19 MAR, 2021 |
| Finalization of Basis of Allotment | 24 MAR, 2021 |
| Initiation of Refunds | 24 MAR, 2021 |
| Credit of Shares to Demat Account | 25 MAR, 2021 |
| IPO Listing Date | 30 MAR, 2021 |
Suryoday Small Finance Bank IPO Lot Size & Price
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 49 | ₹14,945 |
| Maximum | 13 | 637 | ₹194,285 |
Suryoday Small Finance Bank IPO: How To Apply
Promoters play a very important role in raising much-needed business revenue.
Apply For Suryoday Small Finance Bank IPO Through ASBA
First, you should know what ASBA is. ASBA stands for Restricted Application Support. It is an application by the bank to apply for an IPO.
You apply with ASBA through the bank because initially, the bank covers the cost of purchasing the IPO. This amount is deducted from your account only after receiving IPO share shares in your Demat account.
All the major banks in the country are expanding the ASBA center. There are about 30 banks on the list, some of which are IDBI Bank Limited, Citi Bank, Punjab National Bank, etc.
The center may be expanded once they have been authorized to do so. These banks block the corresponding amount until the IPO allocation process is finalized.
Now, most of you are probably thinking about how to use the Suryoday Small Finance Bank IPO with ASBA. The process can be completed online or offline for your convenience.
Apart from this, you can also bid for an Suryoday Small Finance Bank IPO through your stockbroker’s online portal (such as Zerodha, Edelweiss, Motilal Oswal, etc.)
Company Contact Information
| 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/ |
