Tuesday, April 13, 2021

Suryoday SFB IPO Details

Suryoday SFB IPOSuryoday SFB IPO description – Suryoday Small Finance Bank is among the leading SFBs in India in terms of net interest margins, return on assets, yields and deposit growth and had the lowest cost-to-income ratio among SFBs in India in FY2020.

Prior to commencement of operations as an SFB in January 2017, the company operated as an NBFC – MFI carrying out microfinance operations through the joint liability group-lending model for providing collateral-free, small ticket-size loans to economically active women belonging to weaker sections.

Over the years, it has diversified its loan portfolio to include nonmicro banking loans. The company commenced its microfinance operations in 2009 and has since expanded operations across 12 states and union territories, as of 31 July 2020. Its customer base stood at 1.43 million and its employee base comprised 3,949 employees and it operated 482 Banking Outlets including 137 Unbanked Rural Centres (URCs). As of 31 March 2020, 32.72%, 29.72% and 30.80% of its Gross Advances were from metropolitan, urban and semi-urban areas (based on branch locations as classified by the RBI), respectively.

Promoters of Suryoday SFB – Baskar Babu Ramachandran, P Surendra Pai, Ps Jagdish And Gv Alankara
Suryoday SFB IPO details
Subscription Dates 17 – 19 March 2021
Price Band INR303 – 305 per share
Fresh issue 8,150,000 shares (INR246.94 – 248.57 crore)  
Offer For Sale 10,943,070 shares (INR331.57 – 333.76 crore)
Total IPO size 19,093,070 shares (INR578.52 – 582.34 crore)
Minimum bid (lot size) 49 shares 
Face Value  INR10 per share
Retail Allocation 35%
Listing On NSE, BSE

Suryoday SFB’sfinancial performance (in INR crore)

  FY2018 FY2019 FY2020 9M FY2021
Revenue 324.9 597.0 854.1 689.3
Expenses 313.4 506.6 742.9 634.4
Net income 11.5 90.4 111.2 54.9
Net margin (%) 3.5 15.1 13.0 8.0

Registrar of Suryoday SFB IPO

KFin Technologies Private Limited
Selenium Tower B, Plot 31-32,
Gachibowli, Nanakramguda,
Hyderabad – 500 032, Telangana
Phone: +91 40 6716 2222 
Fax:
 +91 40 2343 1551 
Email: [email protected]
Website: www.kfintech.com

Suryoday SFB Contact Details

Suryoday Small Finance Bank Limited
Unit No. 1101, Sharda Terraces,
Plot No. 65, Sector 11,
CBD Belapur, Navi Mumbai 400 614
Phone: +91 22 4043 5800
Email: [email protected]
Website: www.suryodaybank.com

Valuation of Suryoday SFB (as of FY2020)

Earnings Per Share (EPS): INR13.3 
Price/Earnings (PE ratio): 22.78 – 22.93
Return on Net Worth (RONW): 10.43%
Net Asset Value (NAV): INR123.13 per share

Suryoday SFB IPO Subscription Details

Category Shares offered Subscription (no. of times, at 5 PM)
Day 1 Day 2 Day 3
QIB 37,18,614 0.00 0.00 2.19
NII 27,88,961 0.04 0.20 1.32
Retail 65,07,575 0.84 2.01 3.09
Employee 5,00,000 0.06 0.17 0.33
Total 1,35,15,150 0.42 1.02 2.37

Suryoday SFB IPO Analyst Reviews

Anand Rathi – Subscribe
Arihant Capital – Avoid
Choice Broking – Avoid
Elite Wealth – Avoid
GEPL Capital – Subscribe
ICICIdirect – Not Rated
LKP Securities – Subscribe
Samco Securities – Avoid
Ventura Securities – Not Rated

Suryoday SFB IPO Allotment Status

Suryoday SFB IPO allotment status is now available on KFin Technologies’ website. Click on this link to get allotment status. 

Listing Performance of Suryoday Small Finance Bank

IPO Opening Date: 17 March 2021
IPO Closing Date: 19 March 2021
Finalisation of Basis of Allotment: 24 March 2021
Initiation of refunds: 24 March 2021
Transfer of shares to demat accounts: 25 March 2021
Listing Date: 30 March 2021
Opening Price on NSE: INR292 per share (down 4.26% from IPO price) 
Closing Price on NSE: INR277.8 per share (down 8.92% from IPO price) 

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